Minerals Technologies Inc. $MTX Shares Sold by Snyder Capital Management L P

Snyder Capital Management L P trimmed its holdings in shares of Minerals Technologies Inc. (NYSE:MTX) by 1.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 564,234 shares of the basic materials company’s stock after selling 8,987 shares during the quarter. Snyder Capital Management L P’s holdings in Minerals Technologies were worth $35,050,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. First Horizon Corp purchased a new stake in Minerals Technologies in the 3rd quarter worth $35,000. First Horizon Advisors Inc. increased its stake in shares of Minerals Technologies by 161.1% during the second quarter. First Horizon Advisors Inc. now owns 590 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 364 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Minerals Technologies by 626.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 596 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 514 shares during the last quarter. Strs Ohio purchased a new position in Minerals Technologies in the 1st quarter valued at about $70,000. Finally, Smartleaf Asset Management LLC boosted its holdings in Minerals Technologies by 136.2% in the 2nd quarter. Smartleaf Asset Management LLC now owns 1,278 shares of the basic materials company’s stock worth $71,000 after buying an additional 737 shares during the last quarter. Institutional investors and hedge funds own 97.29% of the company’s stock.

Analyst Ratings Changes

MTX has been the topic of several research reports. Truist Financial raised their target price on Minerals Technologies from $84.00 to $89.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Zacks Research upgraded Minerals Technologies from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 14th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Minerals Technologies in a research note on Monday, December 22nd. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $89.00.

Minerals Technologies Price Performance

NYSE:MTX opened at $71.70 on Thursday. The stock has a 50 day moving average price of $68.07 and a 200 day moving average price of $63.13. The stock has a market cap of $2.23 billion, a PE ratio of -140.59 and a beta of 1.24. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.45 and a current ratio of 2.08. Minerals Technologies Inc. has a one year low of $49.54 and a one year high of $75.29.

Minerals Technologies (NYSE:MTX) last issued its earnings results on Thursday, January 29th. The basic materials company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.01). Minerals Technologies had a negative net margin of 0.89% and a positive return on equity of 10.22%. The company had revenue of $519.50 million during the quarter, compared to analysts’ expectations of $517.83 million. During the same quarter in the previous year, the company earned $1.28 earnings per share. The firm’s quarterly revenue was up .3% compared to the same quarter last year. Equities research analysts expect that Minerals Technologies Inc. will post 6.62 EPS for the current fiscal year.

Minerals Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 13th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $0.48 dividend on an annualized basis and a yield of 0.7%. Minerals Technologies’s payout ratio is -94.12%.

Insiders Place Their Bets

In other Minerals Technologies news, insider Dj Monagle III sold 23,093 shares of the business’s stock in a transaction dated Monday, December 29th. The shares were sold at an average price of $61.90, for a total value of $1,429,456.70. Following the transaction, the insider directly owned 84,349 shares in the company, valued at $5,221,203.10. The trade was a 21.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 3.30% of the stock is owned by 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.