Kennedy Capital Management Inc. bought a new position in shares of Minerals Technologies Inc (NYSE:MTX) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 56,404 shares of the basic materials company’s stock, valued at approximately $3,883,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. raised its stake in Minerals Technologies by 0.5% in the 4th quarter. BlackRock Inc. now owns 3,683,524 shares of the basic materials company’s stock valued at $253,611,000 after acquiring an additional 17,944 shares during the period. Royce & Associates LP raised its stake in Minerals Technologies by 12.1% in the 4th quarter. Royce & Associates LP now owns 1,263,881 shares of the basic materials company’s stock valued at $87,018,000 after acquiring an additional 136,595 shares during the period. Macquarie Group Ltd. raised its stake in Minerals Technologies by 13.6% in the 3rd quarter. Macquarie Group Ltd. now owns 1,229,195 shares of the basic materials company’s stock valued at $86,843,000 after acquiring an additional 146,972 shares during the period. American Century Companies Inc. raised its stake in Minerals Technologies by 3.1% in the 4th quarter. American Century Companies Inc. now owns 628,478 shares of the basic materials company’s stock valued at $43,271,000 after acquiring an additional 18,889 shares during the period. Finally, Boston Partners raised its stake in Minerals Technologies by 10.2% in the 4th quarter. Boston Partners now owns 570,774 shares of the basic materials company’s stock valued at $39,298,000 after acquiring an additional 52,839 shares during the period. Institutional investors own 96.01% of the company’s stock.
Minerals Technologies Inc (MTX) opened at $73.90 on Tuesday. The company has a current ratio of 2.75, a quick ratio of 2.04 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $2,623.93, a PE ratio of 16.13 and a beta of 2.28. Minerals Technologies Inc has a twelve month low of $62.55 and a twelve month high of $80.50.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 8th. Shareholders of record on Friday, February 16th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date was Thursday, February 15th. Minerals Technologies’s payout ratio is presently 3.66%.
A number of equities research analysts recently issued reports on the company. Zacks Investment Research upgraded Minerals Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, January 18th. ValuEngine cut Minerals Technologies from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $80.00.
In related news, Director Joseph C. Breunig bought 800 shares of Minerals Technologies stock in a transaction on Wednesday, February 7th. The stock was acquired at an average price of $69.36 per share, with a total value of $55,488.00. Following the acquisition, the director now directly owns 1,200 shares of the company’s stock, valued at $83,232. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.20% of the stock is owned by insiders.
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Minerals Technologies Profile
Minerals Technologies Inc is a resource- and technology-based company that develops, produces and markets a range of specialty mineral, mineral-based and synthetic mineral products and related systems and services around the world. It operates through four segments. The Specialty Minerals segment produces and sells the synthetic mineral product precipitated calcium carbonate (PCC), mines mineral ores, and processes and sells natural mineral products, primarily limestone and talc.
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