Empowered Funds LLC lowered its holdings in Minerals Technologies Inc. (NYSE:MTX – Free Report) by 84.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,872 shares of the basic materials company’s stock after selling 15,110 shares during the quarter. Empowered Funds LLC’s holdings in Minerals Technologies were worth $204,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently modified their holdings of MTX. State Street Corp raised its holdings in Minerals Technologies by 0.5% in the 4th quarter. State Street Corp now owns 1,221,398 shares of the basic materials company’s stock worth $74,444,000 after purchasing an additional 6,458 shares during the period. Geode Capital Management LLC raised its stake in Minerals Technologies by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 897,850 shares of the basic materials company’s stock worth $54,732,000 after acquiring an additional 4,693 shares during the period. Brandes Investment Partners LP raised its stake 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 worth $49,973,000 after acquiring an additional 152,950 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Minerals Technologies by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 597,297 shares of the basic materials company’s stock valued at $36,405,000 after purchasing an additional 15,467 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in Minerals Technologies by 26.5% during the second quarter. Ameriprise Financial Inc. now owns 496,215 shares of the basic materials company’s stock valued at $27,327,000 after purchasing an additional 103,853 shares in the last quarter. 97.29% of the stock is owned by institutional investors.
Minerals Technologies Stock Performance
MTX stock opened at $72.89 on Friday. Minerals Technologies Inc. has a one year low of $53.94 and a one year high of $84.34. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of -33.59 and a beta of 1.14. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.00 and a current ratio of 1.43. The firm has a 50-day simple moving average of $75.11 and a two-hundred day simple moving average of $73.26.
Minerals Technologies Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Friday, August 14th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, August 14th. This represents a $0.48 dividend on an annualized basis and a yield of 0.7%. Minerals Technologies’s payout ratio is currently -22.12%.
Analysts Set New Price Targets
MTX has been the subject of a number of research analyst reports. Wall Street Zen lowered shares of Minerals Technologies from a “strong-buy” rating to a “hold” rating in a report on Saturday, August 8th. Truist Financial raised their target price on shares of Minerals Technologies from $89.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Seaport Research Partners reiterated a “buy” rating on shares of Minerals Technologies in a report on Monday, May 4th. Finally, Weiss Ratings lowered Minerals Technologies from a “hold (c+)” rating to a “sell (d+)” rating in a research report on Monday, August 3rd. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $90.00.
Read Our Latest Stock Analysis on MTX
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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