Franklin Resources Inc. Acquires 327,918 Shares of Minerals Technologies Inc. (NYSE:MTX)

Franklin Resources Inc. increased its holdings in shares of Minerals Technologies Inc. (NYSE:MTXGet Rating) by 19.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,045,335 shares of the basic materials company’s stock after acquiring an additional 327,918 shares during the period. Franklin Resources Inc. owned approximately 0.06% of Minerals Technologies worth $125,460,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Ellevest Inc. raised its holdings in shares of Minerals Technologies by 74.9% during the second quarter. Ellevest Inc. now owns 488 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 209 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Minerals Technologies by 3.3% during the second quarter. Bank of Montreal Can now owns 6,827 shares of the basic materials company’s stock valued at $423,000 after purchasing an additional 219 shares during the last quarter. Texas Permanent School Fund raised its holdings in shares of Minerals Technologies by 1.0% during the second quarter. Texas Permanent School Fund now owns 23,828 shares of the basic materials company’s stock valued at $1,462,000 after purchasing an additional 225 shares during the last quarter. Xponance Inc. raised its holdings in shares of Minerals Technologies by 4.9% during the second quarter. Xponance Inc. now owns 5,109 shares of the basic materials company’s stock valued at $313,000 after purchasing an additional 240 shares during the last quarter. Finally, Comerica Bank raised its holdings in shares of Minerals Technologies by 1.9% during the first quarter. Comerica Bank now owns 15,933 shares of the basic materials company’s stock valued at $1,039,000 after purchasing an additional 295 shares during the last quarter. Institutional investors own 96.13% of the company’s stock.

Minerals Technologies Stock Up 0.5 %

Shares of MTX stock opened at $57.24 on Thursday. The company has a 50 day simple moving average of $54.14 and a two-hundred day simple moving average of $59.94. The company has a current ratio of 2.18, a quick ratio of 1.48 and a debt-to-equity ratio of 0.62. The stock has a market cap of $1.86 billion, a P/E ratio of 13.22 and a beta of 1.30. Minerals Technologies Inc. has a 12 month low of $49.38 and a 12 month high of $75.65.

Minerals Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 8th. Stockholders of record on Wednesday, November 2nd will be paid a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, November 1st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.35%. Minerals Technologies’s dividend payout ratio (DPR) is presently 4.62%.

Insider Transactions at Minerals Technologies

In other news, CEO Douglas T. Dietrich sold 16,299 shares of the stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $60.06, for a total value of $978,917.94. Following the completion of the sale, the chief executive officer now directly owns 118,265 shares of the company’s stock, valued at $7,102,995.90. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Dj Monagle III sold 19,673 shares of the stock in a transaction on Monday, September 12th. The shares were sold at an average price of $63.36, for a total value of $1,246,481.28. Following the completion of the sale, the insider now directly owns 72,402 shares of the company’s stock, valued at $4,587,390.72. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Douglas T. Dietrich sold 16,299 shares of the stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $60.06, for a total transaction of $978,917.94. Following the completion of the sale, the chief executive officer now directly owns 118,265 shares of the company’s stock, valued at $7,102,995.90. The disclosure for this sale can be found here. Corporate insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

MTX has been the subject of a number of research reports. Seaport Res Ptn cut shares of Minerals Technologies from a “buy” rating to a “neutral” rating in a report on Thursday, October 13th. TheStreet cut shares of Minerals Technologies from a “b-” rating to a “c+” rating in a report on Monday, October 10th. StockNews.com initiated coverage on shares of Minerals Technologies in a report on Wednesday, October 12th. They set a “hold” rating for the company. Finally, CL King cut shares of Minerals Technologies from a “buy” rating to a “neutral” rating in a report on Tuesday, August 30th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $81.00.

Minerals Technologies Profile

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Minerals Technologies Inc develops, produces, and markets various specialty mineral, mineral-based, and synthetic mineral products, and supporting systems and services. The company operates through three segments: Performance Materials, Specialty Minerals and Refractories. The Performance Materials segment supplies bentonite and bentonite-related products, as well as leonardite.

See Also

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Institutional Ownership by Quarter for Minerals Technologies (NYSE:MTX)

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