Ritholtz Wealth Management acquired a new stake in shares of Minerals Technologies Inc. (NYSE:MTX – Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,721 shares of the basic materials company’s stock, valued at approximately $689,000.
A number of other institutional investors also recently modified their holdings of the company. SG Capital Management LLC grew its stake in shares of Minerals Technologies by 137.1% in the fourth quarter. SG Capital Management LLC now owns 148,385 shares of the basic materials company’s stock worth $9,044,000 after purchasing an additional 548,385 shares during the last quarter. Caption Management LLC increased its holdings in Minerals Technologies by 102.7% during the 4th quarter. Caption Management LLC now owns 5,375 shares of the basic materials company’s stock valued at $328,000 after purchasing an additional 205,375 shares during the period. Brandes Investment Partners LP raised its position in Minerals Technologies by 22.9% during the 4th quarter. Brandes Investment Partners LP now owns 819,908 shares of the basic materials company’s stock valued at $49,973,000 after purchasing an additional 152,950 shares during the last quarter. Invenomic Capital Management LP bought a new position in Minerals Technologies during the 4th quarter valued at approximately $7,058,000. Finally, Ameriprise Financial Inc. lifted its holdings in Minerals Technologies by 26.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 496,215 shares of the basic materials company’s stock worth $27,327,000 after buying an additional 103,853 shares during the period. 97.29% of the stock is currently owned by hedge funds and other institutional investors.
Minerals Technologies Price Performance
MTX stock opened at $77.27 on Tuesday. Minerals Technologies Inc. has a 1 year low of $53.94 and a 1 year high of $84.34. The company has a market cap of $2.40 billion, a P/E ratio of 14.95 and a beta of 1.13. The firm has a 50-day moving average of $76.49 and a 200 day moving average of $70.86. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.13 and a quick ratio of 1.47.
Minerals Technologies Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Tuesday, June 2nd were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Tuesday, June 2nd. Minerals Technologies’s dividend payout ratio (DPR) is presently 9.28%.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on MTX shares. Weiss Ratings upgraded Minerals Technologies from a “sell (d+)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th. Wall Street Zen downgraded Minerals Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 13th. Seaport Research Partners reaffirmed a “buy” rating on shares of Minerals Technologies in a research note on Monday, May 4th. Finally, Truist Financial lifted their price target on shares of Minerals Technologies from $89.00 to $90.00 and gave the company a “buy” rating in a report on Monday, May 4th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Minerals Technologies has a consensus rating of “Hold” and a consensus price target of $90.00.
Check Out Our Latest Stock Report on Minerals Technologies
Insider Buying and Selling at Minerals Technologies
In related news, VP Timothy Jordan sold 6,000 shares of Minerals Technologies stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $80.27, for a total transaction of $481,620.00. Following the sale, the vice president directly owned 1,279 shares in the company, valued at $102,665.33. The trade was a 82.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.70% of the stock is owned by corporate insiders.
Minerals Technologies Company Profile
Minerals Technologies Inc develops, produces and processes a broad range of mineral-based products and solutions that serve a variety of industrial applications. Its offerings include bentonite, perlite, precipitated calcium carbonate (PCC), mineral sands, foundry additives, performance minerals and specialty chemicals designed to enhance performance in markets such as paper, steel, construction, oil and gas, environmental remediation and consumer products.
The company operates through several business segments, including Specialty Minerals, Refractory Minerals, Performance Materials and Recycled Materials.
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