Minerals Technologies Inc. (NYSE:MTX) Shares Sold by Graham Capital Management L.P.

Graham Capital Management L.P. lowered its position in shares of Minerals Technologies Inc. (NYSE:MTX) by 13.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,346 shares of the basic materials company’s stock after selling 2,231 shares during the period. Graham Capital Management L.P.’s holdings in Minerals Technologies were worth $1,093,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Smartleaf Asset Management LLC increased its holdings in shares of Minerals Technologies by 181.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 506 shares of the basic materials company’s stock worth $38,000 after buying an additional 326 shares during the last quarter. Quarry LP increased its holdings in shares of Minerals Technologies by 536.5% during the 4th quarter. Quarry LP now owns 732 shares of the basic materials company’s stock worth $56,000 after buying an additional 617 shares during the last quarter. Venturi Wealth Management LLC acquired a new stake in Minerals Technologies in the 4th quarter valued at approximately $78,000. Blue Trust Inc. raised its position in Minerals Technologies by 21.4% in the fourth quarter. Blue Trust Inc. now owns 1,009 shares of the basic materials company’s stock valued at $78,000 after purchasing an additional 178 shares during the period. Finally, KBC Group NV raised its position in Minerals Technologies by 43.9% in the fourth quarter. KBC Group NV now owns 1,478 shares of the basic materials company’s stock valued at $113,000 after purchasing an additional 451 shares during the period. Institutional investors and hedge funds own 97.29% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on MTX. StockNews.com lowered Minerals Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, April 9th. Truist Financial cut their target price on Minerals Technologies from $92.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, April 28th.

Minerals Technologies Stock Up 0.8%

Shares of NYSE MTX opened at $58.80 on Wednesday. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of 11.35 and a beta of 1.22. The company has a quick ratio of 1.98, a current ratio of 2.84 and a debt-to-equity ratio of 0.54. Minerals Technologies Inc. has a 52-week low of $49.54 and a 52-week high of $90.30. The business’s 50 day moving average is $59.40 and its two-hundred day moving average is $70.52.

Minerals Technologies (NYSE:MTX) last posted its quarterly earnings results on Thursday, April 24th. The basic materials company reported $1.14 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.02). The business had revenue of $491.80 million during the quarter, compared to analyst estimates of $502.03 million. Minerals Technologies had a return on equity of 11.49% and a net margin of 7.89%. The business’s revenue was down 8.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.49 EPS. Research analysts predict that Minerals Technologies Inc. will post 6.62 EPS for the current year.

Minerals Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 30th will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.75%. Minerals Technologies’s dividend payout ratio (DPR) is -57.14%.

Insiders Place Their Bets

In other Minerals Technologies news, Director Kristina M. Johnson purchased 1,000 shares of the company’s stock in a transaction on Friday, May 2nd. The stock was acquired at an average price of $53.79 per share, for a total transaction of $53,790.00. Following the completion of the purchase, the director now directly owns 1,400 shares in the company, valued at approximately $75,306. The trade was a 250.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.50% of the company’s stock.

Minerals Technologies 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.