PharVision Advisers LLC Invests $236,000 in Minerals Technologies Inc. (NYSE:MTX)

PharVision Advisers LLC acquired a new stake in shares of Minerals Technologies Inc. (NYSE:MTX) during the 4th quarter, HoldingsChannel reports. The institutional investor acquired 3,101 shares of the basic materials company’s stock, valued at approximately $236,000.

Several other hedge funds have also recently modified their holdings of the stock. Principal Financial Group Inc. raised its position in shares of Minerals Technologies by 2.7% in the 4th quarter. Principal Financial Group Inc. now owns 166,647 shares of the basic materials company’s stock valued at $12,700,000 after purchasing an additional 4,356 shares during the last quarter. Y Intercept Hong Kong Ltd raised its position in shares of Minerals Technologies by 74.4% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 17,264 shares of the basic materials company’s stock valued at $1,316,000 after purchasing an additional 7,364 shares during the last quarter. M&T Bank Corp raised its position in shares of Minerals Technologies by 13.2% in the 4th quarter. M&T Bank Corp now owns 37,770 shares of the basic materials company’s stock valued at $2,878,000 after purchasing an additional 4,402 shares during the last quarter. KBC Group NV raised its position in shares of Minerals Technologies by 43.9% in the 4th quarter. KBC Group NV now owns 1,478 shares of the basic materials company’s stock valued at $113,000 after purchasing an additional 451 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Minerals Technologies by 1.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 511,205 shares of the basic materials company’s stock valued at $38,330,000 after purchasing an additional 7,488 shares during the last quarter. Institutional investors and hedge funds own 97.29% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on MTX shares. Truist Financial decreased their price objective on shares of Minerals Technologies from $92.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, April 28th. Wall Street Zen downgraded shares of Minerals Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, April 9th.

Insider Buying and Selling

In other news, CFO Erik Aldag acquired 1,000 shares of the company’s stock in a transaction dated Wednesday, April 30th. The shares were acquired at an average price of $50.37 per share, with a total value of $50,370.00. Following the purchase, the chief financial officer now directly owns 4,245 shares of the company’s stock, valued at $213,820.65. This trade represents a 30.82% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.30% of the stock is owned by corporate insiders.

Minerals Technologies Price Performance

Shares of NYSE:MTX opened at $58.82 on Friday. Minerals Technologies Inc. has a twelve month low of $49.54 and a twelve month high of $90.30. The company’s 50 day moving average is $58.21 and its 200 day moving average is $69.73. The company has a current ratio of 2.84, a quick ratio of 1.98 and a debt-to-equity ratio of 0.54. The company has a market cap of $1.87 billion, a PE ratio of 11.35 and a beta of 1.22.

Minerals Technologies (NYSE:MTX) last issued its quarterly earnings results on Thursday, April 24th. The basic materials company reported $1.14 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.02). Minerals Technologies had a return on equity of 11.49% and a net margin of 7.89%. The business had revenue of $491.80 million during the quarter, compared to analyst estimates of $502.03 million. During the same quarter last year, the company posted $1.49 EPS. Minerals Technologies’s quarterly revenue was down 8.0% compared to the same quarter last year. On average, sell-side analysts forecast that Minerals Technologies Inc. will post 6.62 EPS for the current year.

Minerals Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 30th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.44 annualized dividend and a yield of 0.75%. Minerals Technologies’s dividend payout ratio (DPR) is presently -57.14%.

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.