Sei Investments Co. Boosts Holdings in Minerals Technologies Inc. $MTX

Sei Investments Co. grew its stake in Minerals Technologies Inc. (NYSE:MTX) by 39.9% during the 1st quarter, Holdings Channel reports. The firm owned 40,049 shares of the basic materials company’s stock after purchasing an additional 11,427 shares during the quarter. Sei Investments Co.’s holdings in Minerals Technologies were worth $2,840,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. 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. Parallel Advisors LLC increased its stake in Minerals Technologies by 36.0% during the 1st quarter. Parallel Advisors LLC now owns 552 shares of the basic materials company’s stock worth $39,000 after buying an additional 146 shares in the last quarter. Torren Management LLC purchased a new stake in Minerals Technologies during the 4th quarter worth approximately $50,000. Danske Bank A S acquired a new position in shares of Minerals Technologies during the third quarter valued at approximately $56,000. Finally, Strs Ohio acquired a new position in shares of Minerals Technologies during the first quarter valued at approximately $70,000. Hedge funds and other institutional investors own 97.29% of the company’s stock.

Minerals Technologies Stock Down 0.2%

MTX stock opened at $75.15 on Friday. The company has a market cap of $2.34 billion, a price-to-earnings ratio of -34.63 and a beta of 1.14. The company has a current ratio of 1.43, a quick ratio of 1.00 and a debt-to-equity ratio of 0.60. Minerals Technologies Inc. has a 12 month low of $53.94 and a 12 month high of $84.34. The firm has a 50-day moving average of $75.40 and a two-hundred day moving average of $73.06.

Minerals Technologies (NYSE:MTX) last issued its 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 company had revenue of $548.40 million for the quarter, compared to analyst estimates of $558.77 million. Minerals Technologies had a positive return on equity of 10.63% and a negative net margin of 3.13%.The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.55 earnings per share. As a group, analysts forecast that Minerals Technologies Inc. will post 6.03 earnings per share for the current fiscal year.

Minerals Technologies Dividend Announcement

The business also recently disclosed 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 0.6%. Minerals Technologies’s dividend payout ratio (DPR) is presently -22.12%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on MTX shares. Wall Street Zen downgraded Minerals Technologies from a “strong-buy” rating to a “hold” rating in a research report on Saturday. Truist Financial increased their price objective on 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 restated a “buy” rating on shares of Minerals Technologies in a report on Monday, May 4th. Finally, Weiss Ratings cut shares of Minerals Technologies from a “hold (c+)” rating to a “sell (d+)” rating in a research note on Monday. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Minerals Technologies currently has a consensus rating of “Hold” and an average target price of $90.00.

Insiders Place Their Bets

In other Minerals Technologies news, VP Timothy Jordan sold 6,000 shares of the business’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $80.27, for a total transaction of $481,620.00. Following the transaction, the vice president owned 1,279 shares of the company’s stock, valued at approximately $102,665.33. The trade was a 82.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 3.70% of the company’s stock.

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.