Kesler Norman & Wride LLC Purchases Shares of 5,895 Minerals Technologies Inc. (NYSE:MTX)

Kesler Norman & Wride LLC purchased a new stake in Minerals Technologies Inc. (NYSE:MTX) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,895 shares of the basic materials company’s stock, valued at approximately $455,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Minerals Technologies by 0.7% in the first quarter. Vanguard Group Inc. now owns 3,738,256 shares of the basic materials company’s stock valued at $281,416,000 after purchasing an additional 25,056 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Minerals Technologies by 0.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,296,727 shares of the basic materials company’s stock worth $190,996,000 after acquiring an additional 15,563 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Minerals Technologies by 2.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 528,945 shares of the basic materials company’s stock worth $43,987,000 after acquiring an additional 14,909 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Minerals Technologies by 0.8% during the second quarter. Bank of New York Mellon Corp now owns 322,706 shares of the basic materials company’s stock worth $26,836,000 after acquiring an additional 2,715 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Minerals Technologies by 9.1% during the fourth quarter. Wellington Management Group LLP now owns 273,941 shares of the basic materials company’s stock worth $19,535,000 after acquiring an additional 22,857 shares during the last quarter. 97.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Minerals Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, October 3rd.

Minerals Technologies Price Performance

Shares of NYSE MTX opened at $75.39 on Wednesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.46 and a quick ratio of 1.72. The stock has a fifty day moving average price of $74.02 and a 200 day moving average price of $77.98. Minerals Technologies Inc. has a 1-year low of $48.61 and a 1-year high of $90.29. The company has a market cap of $2.43 billion, a PE ratio of 26.09 and a beta of 1.30.

Minerals Technologies (NYSE:MTX) last issued its quarterly earnings results on Thursday, July 25th. The basic materials company reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.05. Minerals Technologies had a return on equity of 11.46% and a net margin of 4.05%. The firm had revenue of $541.20 million during the quarter, compared to the consensus estimate of $561.60 million. During the same period last year, the company earned $1.31 earnings per share. The company’s revenue for the quarter was down 1.9% on a year-over-year basis. Sell-side analysts forecast that Minerals Technologies Inc. will post 6.22 EPS for the current year.

Minerals Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 16th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.53%. The ex-dividend date was Friday, August 16th. Minerals Technologies’s dividend payout ratio (DPR) is presently 13.84%.

Minerals Technologies Profile

Minerals Technologies Inc develops, produces, and markets various mineral, mineral-based, and related systems and services. The company operates through two segments, Consumer & Specialties, and Engineered Solutions segments. The Consumer & Specialties segment offers household and personal care products, such as pet litter, personal care, fabric care, edible oil and other fluid purification, animal health, and agricultural products; and specialty additives products, including precipitated calcium carbonate and ground calcium carbonate products that are used in the paper, paperboard, and fiber based packaging industries, as well as automotive, construction, and table and food applications.