Geode Capital Management LLC Grows Stock Position in Minerals Technologies Inc. $MTX

Geode Capital Management LLC grew its stake in Minerals Technologies Inc. (NYSE:MTX) by 0.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 911,831 shares of the basic materials company’s stock after buying an additional 5,348 shares during the quarter. Geode Capital Management LLC owned 2.91% of Minerals Technologies worth $50,220,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MTX. PNC Financial Services Group Inc. lifted its holdings in Minerals Technologies by 17.3% in the second quarter. PNC Financial Services Group Inc. now owns 4,137 shares of the basic materials company’s stock valued at $228,000 after acquiring an additional 611 shares during the period. CSM Advisors LLC acquired a new stake in shares of Minerals Technologies during the 2nd quarter worth approximately $4,884,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Minerals Technologies by 1.2% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 27,833 shares of the basic materials company’s stock valued at $1,533,000 after purchasing an additional 325 shares in the last quarter. Savant Capital LLC acquired a new position in shares of Minerals Technologies in the 2nd quarter valued at $433,000. Finally, First Horizon Advisors Inc. lifted its stake in shares of Minerals Technologies by 161.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 590 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 364 shares during the period. 97.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on MTX. Truist Financial raised their price target on shares of Minerals Technologies from $80.00 to $84.00 and gave the company a “buy” rating in a research report on Monday, July 28th. Weiss Ratings reiterated a “sell (d)” rating on shares of Minerals Technologies in a research report on Wednesday, November 19th. Finally, Wall Street Zen cut Minerals Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 18th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $84.00.

Minerals Technologies Trading Down 1.9%

Shares of Minerals Technologies stock opened at $57.70 on Tuesday. The company has a current ratio of 1.98, a quick ratio of 1.37 and a debt-to-equity ratio of 0.56. Minerals Technologies Inc. has a twelve month low of $49.54 and a twelve month high of $86.49. The firm has a market capitalization of $1.80 billion, a PE ratio of -2,883.56 and a beta of 1.26. The firm’s 50-day moving average price is $59.35 and its 200 day moving average price is $59.28.

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

Minerals Technologies Increases Dividend

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

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.