Rhumbline Advisers Boosts Stake in Minerals Technologies Inc. (NYSE:MTX)

Rhumbline Advisers lifted its holdings in shares of Minerals Technologies Inc. (NYSE:MTX) by 1.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 99,525 shares of the basic materials company’s stock after buying an additional 1,877 shares during the period. Rhumbline Advisers owned approximately 0.31% of Minerals Technologies worth $7,585,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Blue Trust Inc. lifted its stake in Minerals Technologies by 2,418.2% during the 3rd quarter. Blue Trust Inc. now owns 831 shares of the basic materials company’s stock valued at $69,000 after acquiring an additional 798 shares during the period. KBC Group NV grew its stake in shares of Minerals Technologies by 43.9% in the fourth quarter. KBC Group NV now owns 1,478 shares of the basic materials company’s stock worth $113,000 after acquiring an additional 451 shares during the period. SG Americas Securities LLC purchased a new position in shares of Minerals Technologies during the fourth quarter valued at approximately $145,000. Paloma Partners Management Co bought a new position in Minerals Technologies during the third quarter valued at approximately $214,000. Finally, EP Wealth Advisors LLC purchased a new stake in Minerals Technologies in the third quarter worth approximately $269,000. 97.29% of the stock is owned by hedge funds and other institutional investors.

Minerals Technologies Price Performance

NYSE MTX opened at $70.74 on Wednesday. The company has a 50-day moving average price of $74.89 and a 200-day moving average price of $76.29. Minerals Technologies Inc. has a 52 week low of $69.43 and a 52 week high of $90.29. The company has a quick ratio of 1.98, a current ratio of 2.84 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $2.26 billion, a P/E ratio of 13.66 and a beta of 1.30.

Minerals Technologies (NYSE:MTX) last announced its earnings results on Thursday, February 6th. The basic materials company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.11. Minerals Technologies had a net margin of 7.89% and a return on equity of 11.49%. Equities research analysts anticipate that Minerals Technologies Inc. will post 6.62 earnings per share for the current year.

Minerals Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be issued a $0.11 dividend. The ex-dividend date is Friday, February 14th. This represents a $0.44 dividend on an annualized basis and a yield of 0.62%. Minerals Technologies’s dividend payout ratio is currently 8.49%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on MTX shares. Truist Financial decreased their target price on shares of Minerals Technologies from $103.00 to $101.00 and set a “buy” rating for the company in a research note on Monday, February 10th. StockNews.com lowered Minerals Technologies from a “buy” rating to a “hold” rating in a report on Tuesday.

Minerals Technologies Company 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.