Dimensional Fund Advisors LP boosted its position in shares of Minerals Technologies Inc. (NYSE:MTX) by 9.7% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 1,490,246 shares of the company’s stock after buying an additional 131,414 shares during the period. Dimensional Fund Advisors LP owned 4.28% of Minerals Technologies worth $84,644,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in MTX. Acrospire Investment Management LLC boosted its stake in Minerals Technologies by 35.7% in the second quarter. Acrospire Investment Management LLC now owns 1,900 shares of the company’s stock worth $108,000 after buying an additional 500 shares during the last quarter. LS Investment Advisors LLC boosted its stake in Minerals Technologies by 69.7% in the second quarter. LS Investment Advisors LLC now owns 2,069 shares of the company’s stock worth $118,000 after buying an additional 850 shares during the last quarter. Strs Ohio boosted its stake in Minerals Technologies by 10.0% in the second quarter. Strs Ohio now owns 2,200 shares of the company’s stock worth $124,000 after buying an additional 200 shares during the last quarter. Huntington National Bank boosted its stake in Minerals Technologies by 2.4% in the second quarter. Huntington National Bank now owns 2,337 shares of the company’s stock worth $133,000 after buying an additional 54 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in Minerals Technologies by 64.8% in the first quarter. Envestnet Asset Management Inc. now owns 2,936 shares of the company’s stock worth $167,000 after buying an additional 1,154 shares during the last quarter. 95.57% of the stock is owned by hedge funds and other institutional investors.
Shares of Minerals Technologies Inc. (NYSE:MTX) opened at 67.86 on Friday. Minerals Technologies Inc. has a 12 month low of $35.89 and a 12 month high of $72.54. The firm has a market cap of $2.36 billion, a PE ratio of 23.48 and a beta of 1.85. The firm has a 50 day moving average price of $68.96 and a 200-day moving average price of $61.17.
Minerals Technologies (NYSE:MTX) last released its quarterly earnings data on Thursday, August 4th. The company reported $1.20 EPS for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.04. Minerals Technologies had a net margin of 5.89% and a return on equity of 15.64%. The business earned $427 million during the quarter, compared to analysts’ expectations of $437.20 million. During the same quarter in the prior year, the company earned $1.18 EPS. The firm’s quarterly revenue was down 7.9% on a year-over-year basis. On average, analysts predict that Minerals Technologies Inc. will post $4.48 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 8th. Investors of record on Friday, August 26th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date of this dividend was Wednesday, August 24th. Minerals Technologies’s dividend payout ratio is currently 6.94%.
Separately, Zacks Investment Research raised Minerals Technologies from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a research report on Wednesday, August 10th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Minerals Technologies has an average rating of “Buy” and an average target price of $69.50.
In other Minerals Technologies news, insider Jonathan J. Hastings sold 7,606 shares of the stock in a transaction dated Wednesday, August 31st. The stock was sold at an average price of $70.85, for a total transaction of $538,885.10. Following the completion of the transaction, the insider now owns 18,565 shares in the company, valued at approximately $1,315,330.25. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Douglas T. Dietrich sold 11,080 shares of the stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $69.21, for a total value of $766,846.80. Following the transaction, the chief financial officer now owns 46,779 shares of the company’s stock, valued at approximately $3,237,574.59. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by corporate insiders.
Minerals Technologies Company Profile
Minerals Technologies Inc is a resource-and technology-based company that develops, produces and markets worldwide a range of specialty mineral, mineral-based and synthetic mineral products and related systems and services. It has five segments. The Specialty Minerals, Performance Materials, and Construction Technologies segments produce and sell products and technologies based primarily upon the mineral products calcium carbonate, bentonite, talc, chromite and leonardite.
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