Russell Investments Group Ltd. decreased its stake in shares of Minerals Technologies Inc. (NYSE:MTX – Get Rating) by 42.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,304 shares of the basic materials company’s stock after selling 13,367 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.06% of Minerals Technologies worth $1,210,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Minerals Technologies by 45.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,902 shares of the basic materials company’s stock worth $359,000 after buying an additional 1,531 shares during the last quarter. Mutual of America Capital Management LLC lifted its holdings in Minerals Technologies by 0.5% during the 4th quarter. Mutual of America Capital Management LLC now owns 29,784 shares of the basic materials company’s stock worth $2,179,000 after buying an additional 160 shares during the last quarter. Advisor Group Holdings Inc. lifted its holdings in Minerals Technologies by 24.9% during the 4th quarter. Advisor Group Holdings Inc. now owns 2,075 shares of the basic materials company’s stock worth $151,000 after buying an additional 414 shares during the last quarter. American Century Companies Inc. lifted its holdings in Minerals Technologies by 6.6% during the 4th quarter. American Century Companies Inc. now owns 1,017,929 shares of the basic materials company’s stock worth $74,462,000 after buying an additional 63,170 shares during the last quarter. Finally, ProShare Advisors LLC lifted its holdings in Minerals Technologies by 54.6% during the 4th quarter. ProShare Advisors LLC now owns 10,256 shares of the basic materials company’s stock worth $750,000 after buying an additional 3,624 shares during the last quarter. Hedge funds and other institutional investors own 94.87% of the company’s stock.
Analysts Set New Price Targets
Separately, StockNews.com downgraded Minerals Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, June 28th.
Insider Transactions at Minerals Technologies
In other news, VP Michael Cipolla sold 6,356 shares of Minerals Technologies stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $64.27, for a total transaction of $408,500.12. Following the sale, the vice president now owns 32,286 shares in the company, valued at $2,075,021.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.20% of the company’s stock.
Minerals Technologies Stock Up 1.1 %
MTX opened at $65.96 on Friday. The business’s 50-day simple moving average is $62.54 and its 200-day simple moving average is $64.97. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.56 and a current ratio of 2.29. Minerals Technologies Inc. has a one year low of $57.52 and a one year high of $79.89. The stock has a market capitalization of $2.15 billion, a P/E ratio of 12.70 and a beta of 1.27.
Minerals Technologies (NYSE:MTX – Get Rating) last posted its earnings results on Thursday, July 28th. The basic materials company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.04. Minerals Technologies had a return on equity of 11.44% and a net margin of 8.46%. The business had revenue of $577.00 million for the quarter, compared to analysts’ expectations of $533.65 million. During the same quarter in the previous year, the firm earned $1.29 earnings per share. The business’s revenue was up 26.5% compared to the same quarter last year. Analysts anticipate that Minerals Technologies Inc. will post 5.6 EPS for the current year.
Minerals Technologies Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 9th. Stockholders of record on Friday, August 19th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date of this dividend is Thursday, August 18th. Minerals Technologies’s dividend payout ratio (DPR) is currently 3.89%.
Minerals Technologies Profile
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.
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