Pacer Advisors Inc. lessened its position in Minerals Technologies Inc (NYSE:MTX) by 7.0% in the third quarter, HoldingsChannel reports. The fund owned 13,036 shares of the basic materials company’s stock after selling 986 shares during the quarter. Pacer Advisors Inc.’s holdings in Minerals Technologies were worth $692,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the stock. Victory Capital Management Inc. boosted its position in shares of Minerals Technologies by 7.0% during the second quarter. Victory Capital Management Inc. now owns 1,275,542 shares of the basic materials company’s stock valued at $68,254,000 after buying an additional 83,476 shares during the last quarter. Macquarie Group Ltd. boosted its position in shares of Minerals Technologies by 7.1% during the second quarter. Macquarie Group Ltd. now owns 1,190,555 shares of the basic materials company’s stock valued at $63,706,000 after buying an additional 79,248 shares during the last quarter. Northern Trust Corp boosted its position in shares of Minerals Technologies by 6.4% during the second quarter. Northern Trust Corp now owns 1,107,178 shares of the basic materials company’s stock valued at $59,245,000 after buying an additional 66,156 shares during the last quarter. Nuveen Asset Management LLC boosted its position in shares of Minerals Technologies by 30.7% during the second quarter. Nuveen Asset Management LLC now owns 799,274 shares of the basic materials company’s stock valued at $42,769,000 after buying an additional 187,964 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Minerals Technologies by 1.1% during the second quarter. Bank of New York Mellon Corp now owns 462,063 shares of the basic materials company’s stock valued at $24,725,000 after buying an additional 5,115 shares during the last quarter. 94.44% of the stock is currently owned by institutional investors.
MTX has been the topic of several analyst reports. Morgan Stanley reaffirmed a “sell” rating and set a $165.00 target price on shares of Minerals Technologies in a research report on Friday. Zacks Investment Research cut Minerals Technologies from a “hold” rating to a “sell” rating in a research report on Tuesday, July 9th. Finally, ValuEngine raised Minerals Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, September 14th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $115.00.
In related news, SVP Thomas J. Meek sold 7,502 shares of Minerals Technologies stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $45.90, for a total transaction of $344,341.80. Following the sale, the senior vice president now directly owns 65,752 shares in the company, valued at $3,018,016.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Douglas T. Dietrich purchased 1,500 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were acquired at an average price of $47.99 per share, for a total transaction of $71,985.00. Following the completion of the acquisition, the chief executive officer now directly owns 71,841 shares of the company’s stock, valued at approximately $3,447,649.59. The disclosure for this purchase can be found here. Company insiders own 2.50% of the company’s stock.
Shares of NYSE:MTX opened at $51.79 on Monday. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 10.70, a PEG ratio of 3.51 and a beta of 1.88. The company has a quick ratio of 1.66, a current ratio of 2.30 and a debt-to-equity ratio of 0.61. Minerals Technologies Inc has a 12-month low of $45.26 and a 12-month high of $63.75. The business’s 50 day moving average is $51.42 and its 200 day moving average is $54.42.
Minerals Technologies (NYSE:MTX) last issued its quarterly earnings results on Thursday, August 1st. The basic materials company reported $1.11 EPS for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.05. The business had revenue of $463.80 million for the quarter, compared to analyst estimates of $458.47 million. Minerals Technologies had a return on equity of 11.82% and a net margin of 8.40%. Minerals Technologies’s quarterly revenue was down .2% compared to the same quarter last year. During the same period last year, the company posted $1.28 earnings per share. As a group, equities research analysts expect that Minerals Technologies Inc will post 4.26 earnings per share for the current year.
Minerals Technologies Company Profile
Minerals Technologies Inc develops, produces, and markets various specialty mineral, mineral-based, and synthetic mineral products, and supporting systems and services worldwide. The company's Specialty Minerals segment produces and sells precipitated calcium carbonate and quicklime; and provides natural mineral products comprising limestone and talc.
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