Minerals Technologies Inc. $MTX Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas lessened its position in shares of Minerals Technologies Inc. (NYSE:MTX) by 72.3% in the second quarter, Holdings Channel.com reports. The fund owned 4,835 shares of the basic materials company’s stock after selling 12,636 shares during the quarter. Teacher Retirement System of Texas’ holdings in Minerals Technologies were worth $266,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MTX. Nisa Investment Advisors LLC lifted its stake in shares of Minerals Technologies by 3.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 6,146 shares of the basic materials company’s stock valued at $338,000 after purchasing an additional 219 shares in the last quarter. State of Wyoming raised its holdings in Minerals Technologies by 11.5% in the first quarter. State of Wyoming now owns 2,684 shares of the basic materials company’s stock valued at $171,000 after buying an additional 277 shares during the period. Blue Trust Inc. lifted its position in Minerals Technologies by 44.6% during the second quarter. Blue Trust Inc. now owns 1,011 shares of the basic materials company’s stock valued at $56,000 after buying an additional 312 shares in the last quarter. Hsbc Holdings PLC grew its stake in Minerals Technologies by 9.2% during the first quarter. Hsbc Holdings PLC now owns 5,116 shares of the basic materials company’s stock worth $325,000 after buying an additional 431 shares during the period. Finally, EP Wealth Advisors LLC increased its position in shares of Minerals Technologies by 12.0% in the first quarter. EP Wealth Advisors LLC now owns 4,377 shares of the basic materials company’s stock worth $278,000 after acquiring an additional 470 shares in the last quarter. 97.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Wall Street Zen lowered shares of Minerals Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 18th. Truist Financial raised their price objective on Minerals Technologies from $80.00 to $84.00 and gave the company a “buy” rating in a research report on Monday, July 28th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Minerals Technologies in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Minerals Technologies has an average rating of “Hold” and an average price target of $84.00.

Minerals Technologies Stock Performance

Minerals Technologies stock opened at $57.24 on Wednesday. Minerals Technologies Inc. has a 12-month low of $49.54 and a 12-month high of $86.49. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.98 and a quick ratio of 1.37. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of -2,860.57 and a beta of 1.26. The firm’s fifty day moving average price is $60.49 and its 200 day moving average price is $58.96.

Minerals Technologies (NYSE:MTX) last posted its quarterly earnings data on Wednesday, March 15th. The basic materials company reported $1.50 earnings per share for the quarter. The company had revenue of $557.00 million during the quarter. Minerals Technologies had a negative net margin of 0.08% and a positive return on equity of 10.69%. On average, research analysts forecast that Minerals Technologies Inc. will post 6.62 EPS for the current fiscal year.

Minerals Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Thursday, October 30th will be paid a dividend of $0.12 per share. This is a boost from Minerals Technologies’s previous quarterly dividend of $0.11. The ex-dividend date is Thursday, October 30th. This represents a $0.48 dividend on an annualized basis and a yield of 0.8%. Minerals Technologies’s payout ratio is -2,400.00%.

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.