CIBC Asset Management Inc Buys Shares of 3,170 Minerals Technologies Inc. (NYSE:MTX)

CIBC Asset Management Inc purchased a new stake in shares of Minerals Technologies Inc. (NYSE:MTX) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,170 shares of the basic materials company’s stock, valued at approximately $242,000.

Other institutional investors have also modified their holdings of the company. State Street Corp raised its stake in shares of Minerals Technologies by 2.6% during the 3rd quarter. State Street Corp now owns 1,268,792 shares of the basic materials company’s stock worth $97,989,000 after acquiring an additional 32,196 shares in the last quarter. FMR LLC increased its position in shares of Minerals Technologies by 64.2% during the third quarter. FMR LLC now owns 1,234,719 shares of the basic materials company’s stock worth $95,357,000 after purchasing an additional 482,674 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Minerals Technologies by 3.8% during the third quarter. Geode Capital Management LLC now owns 865,343 shares of the basic materials company’s stock worth $66,841,000 after purchasing an additional 31,616 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Minerals Technologies by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 552,510 shares of the basic materials company’s stock valued at $42,670,000 after purchasing an additional 7,593 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Minerals Technologies by 1.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 511,205 shares of the basic materials company’s stock worth $38,330,000 after purchasing an additional 7,488 shares in the last quarter. 97.29% of the stock is currently owned by institutional investors.

Minerals Technologies Price Performance

NYSE MTX opened at $70.74 on Wednesday. The stock’s fifty day moving average price is $74.89 and its 200 day moving average price is $76.29. Minerals Technologies Inc. has a 1 year low of $69.43 and a 1 year high of $90.29. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.84 and a quick ratio of 1.98. The company has a market cap of $2.26 billion, a price-to-earnings ratio of 13.66 and a beta of 1.30.

Minerals Technologies (NYSE:MTX) last announced its quarterly earnings data on Thursday, February 6th. The basic materials company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.11. Minerals Technologies had a return on equity of 11.49% and a net margin of 7.89%. As a group, equities research analysts forecast that Minerals Technologies Inc. will post 6.62 earnings per share for the current year.

Minerals Technologies Announces Dividend

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

Wall Street Analyst Weigh In

MTX has been the subject of a number of research analyst reports. Truist Financial decreased their price target on 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 cut shares of Minerals Technologies from a “buy” rating to a “hold” rating in a research note 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.