MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Acquires 18,856 Shares of Minerals Technologies Inc. (NYSE:MTX)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Minerals Technologies Inc. (NYSE:MTX) by 5.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 364,408 shares of the basic materials company’s stock after purchasing an additional 18,856 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 1.14% of Minerals Technologies worth $27,771,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC boosted its position in shares of Minerals Technologies by 181.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 506 shares of the basic materials company’s stock valued at $38,000 after purchasing an additional 326 shares in the last quarter. Quarry LP boosted its position in shares of Minerals Technologies by 536.5% during the fourth quarter. Quarry LP now owns 732 shares of the basic materials company’s stock valued at $56,000 after purchasing an additional 617 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Minerals Technologies by 21.4% during 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 in the last quarter. Venturi Wealth Management LLC bought a new stake in shares of Minerals Technologies during the fourth quarter valued at approximately $78,000. Finally, KBC Group NV boosted its position in shares of Minerals Technologies by 43.9% during 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 in the last quarter. 97.29% of the stock is currently owned by institutional investors.

Insider Transactions at Minerals Technologies

In other Minerals Technologies news, Director Kristina M. Johnson purchased 1,000 shares of the firm’s stock in a transaction dated Friday, May 2nd. The stock was purchased 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 of the company’s stock, valued at $75,306. This trade represents a 250.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 3.50% of the company’s stock.

Minerals Technologies Stock Down 1.4%

Shares of NYSE:MTX opened at $57.97 on Thursday. The stock has a fifty day simple moving average of $59.20 and a two-hundred day simple moving average of $70.43. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of 11.19 and a beta of 1.22. Minerals Technologies Inc. has a 12-month low of $49.54 and a 12-month high of $90.30. The company has a current ratio of 2.84, a quick ratio of 1.98 and a debt-to-equity ratio of 0.54.

Minerals Technologies (NYSE:MTX) last announced its quarterly earnings data on Thursday, April 24th. The basic materials company reported $1.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.02). The company had revenue of $491.80 million for the quarter, compared to analysts’ expectations of $502.03 million. Minerals Technologies had a net margin of 7.89% and a return on equity of 11.49%. The firm’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.49 EPS. On average, research analysts anticipate that Minerals Technologies Inc. will post 6.62 earnings per share for the current fiscal year.

Minerals Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders 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 0.76%. The ex-dividend date of this dividend is Friday, May 30th. Minerals Technologies’s dividend payout ratio is currently -57.14%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Truist Financial dropped their price target 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. StockNews.com cut Minerals Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, April 9th.

About Minerals Technologies

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.