Jupiter Topco LLC Acquires New Position in Minerals Technologies Inc. $MTX

Jupiter Topco LLC bought a new position in Minerals Technologies Inc. (NYSE:MTX) in the second quarter, Holdings Channel reports. The institutional investor bought 14,325 shares of the basic materials company’s stock, valued at approximately $1,059,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Minerals Technologies in the 2nd quarter worth approximately $361,721,000. SG Capital Management LLC lifted its stake in Minerals Technologies by 137.1% in the fourth quarter. SG Capital Management LLC now owns 148,385 shares of the basic materials company’s stock worth $9,044,000 after purchasing an additional 548,385 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in Minerals Technologies during the second quarter valued at about $20,237,000. Caption Management LLC boosted its position in Minerals Technologies by 102.7% during the fourth quarter. Caption Management LLC now owns 5,375 shares of the basic materials company’s stock valued at $328,000 after buying an additional 205,375 shares during the period. Finally, Brandes Investment Partners LP grew its stake in shares of Minerals Technologies by 22.9% during the fourth quarter. Brandes Investment Partners LP now owns 819,908 shares of the basic materials company’s stock valued at $49,973,000 after buying an additional 152,950 shares during the last quarter. 97.29% of the stock is currently owned by institutional investors.

Minerals Technologies Price Performance

Shares of NYSE MTX opened at $71.91 on Friday. Minerals Technologies Inc. has a 1 year low of $53.94 and a 1 year high of $84.34. The stock has a market capitalization of $2.24 billion, a P/E ratio of -33.14 and a beta of 1.14. The company’s 50-day moving average is $73.26 and its 200 day moving average is $73.41. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.43 and a quick ratio of 1.00.

Minerals Technologies (NYSE:MTX) last issued its quarterly earnings results on Thursday, July 30th. The basic materials company reported $1.60 earnings per share for the quarter, missing the consensus estimate of $1.64 by ($0.04). The firm had revenue of $548.40 million during the quarter, compared to analysts’ expectations of $558.77 million. Minerals Technologies had a positive return on equity of 10.63% and a negative net margin of 3.13%.Minerals Technologies’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.55 earnings per share. On average, sell-side analysts expect that Minerals Technologies Inc. will post 6.03 earnings per share for the current year.

Minerals Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 4th. Stockholders of record on Friday, August 14th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Friday, August 14th. Minerals Technologies’s dividend payout ratio (DPR) is presently -22.12%.

Analyst Upgrades and Downgrades

MTX has been the topic of several analyst reports. Wall Street Zen downgraded Minerals Technologies from a “strong-buy” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings cut Minerals Technologies from a “hold (c+)” rating to a “sell (d+)” rating in a report on Monday, August 3rd. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $90.00.

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.