GW&K Investment Management LLC decreased its position in shares of Minerals Technologies Inc. (NYSE:MTX – Free Report) by 27.9% during the 4th quarter, Holdings Channel reports. The fund owned 327,550 shares of the basic materials company’s stock after selling 126,586 shares during the quarter. GW&K Investment Management LLC’s holdings in Minerals Technologies were worth $19,965,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. ProShare Advisors LLC boosted its stake in Minerals Technologies by 3.2% during the 4th quarter. ProShare Advisors LLC now owns 6,139 shares of the basic materials company’s stock worth $374,000 after acquiring an additional 192 shares during the last quarter. California State Teachers Retirement System boosted its stake in Minerals Technologies by 1.0% during the 2nd quarter. California State Teachers Retirement System now owns 29,716 shares of the basic materials company’s stock worth $1,636,000 after acquiring an additional 304 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Minerals Technologies by 52.7% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 910 shares of the basic materials company’s stock worth $57,000 after acquiring an additional 314 shares during the last quarter. Guidance Capital Inc. boosted its stake in Minerals Technologies by 4.4% during the 4th quarter. Guidance Capital Inc. now owns 8,838 shares of the basic materials company’s stock worth $539,000 after acquiring an additional 370 shares during the last quarter. Finally, Sanctuary Advisors LLC boosted its stake in Minerals Technologies by 8.4% during the 4th quarter. Sanctuary Advisors LLC now owns 5,067 shares of the basic materials company’s stock worth $309,000 after acquiring an additional 394 shares during the last quarter. Institutional investors own 97.29% of the company’s stock.
Minerals Technologies Stock Performance
Shares of MTX stock opened at $76.32 on Thursday. The company’s fifty day simple moving average is $74.72 and its 200-day simple moving average is $69.09. The company has a quick ratio of 1.47, a current ratio of 2.13 and a debt-to-equity ratio of 0.54. The firm has a market cap of $2.37 billion, a PE ratio of 14.76 and a beta of 1.13. Minerals Technologies Inc. has a 12 month low of $53.10 and a 12 month high of $84.34.
Minerals Technologies Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Tuesday, June 2nd will be given 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 of this dividend is Tuesday, June 2nd. Minerals Technologies’s payout ratio is currently 9.28%.
Analysts Set New Price Targets
Several research analysts recently weighed in on the stock. Truist Financial lifted their price objective on shares of Minerals Technologies from $89.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Wall Street Zen raised shares of Minerals Technologies from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 2nd. Seaport Research Partners reissued a “buy” rating on shares of Minerals Technologies in a research note on Monday, May 4th. Finally, Weiss Ratings raised shares of Minerals Technologies from a “sell (d+)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Minerals Technologies has an average rating of “Hold” and an average price target of $90.00.
Read Our Latest Stock Report on MTX
Insider Activity at Minerals Technologies
In other news, VP Timothy Jordan sold 6,000 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $80.27, for a total value of $481,620.00. Following the sale, the vice president owned 1,279 shares of the company’s stock, valued at $102,665.33. The trade was a 82.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.70% of the stock is currently owned by corporate insiders.
Minerals Technologies 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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