Edgestream Partners L.P. Makes New Investment in Minerals Technologies Inc. (NYSE:MTX)

Edgestream Partners L.P. acquired a new position in shares of Minerals Technologies Inc. (NYSE:MTX - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 52,428 shares of the basic materials company's stock, valued at approximately $4,049,000. Edgestream Partners L.P. owned about 0.16% of Minerals Technologies at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in MTX. Picton Mahoney Asset Management acquired a new stake in shares of Minerals Technologies during the 2nd quarter worth approximately $52,000. Blue Trust Inc. increased its position in Minerals Technologies by 2,418.2% in the third quarter. Blue Trust Inc. now owns 831 shares of the basic materials company's stock worth $69,000 after buying an additional 798 shares during the period. Innealta Capital LLC bought a new stake in Minerals Technologies in the second quarter valued at $76,000. Quarry LP boosted its holdings in shares of Minerals Technologies by 1,857.4% during the second quarter. Quarry LP now owns 920 shares of the basic materials company's stock valued at $77,000 after acquiring an additional 873 shares during the period. Finally, CWM LLC grew its position in shares of Minerals Technologies by 585.6% during the second quarter. CWM LLC now owns 1,330 shares of the basic materials company's stock worth $111,000 after acquiring an additional 1,136 shares during the last quarter. Institutional investors and hedge funds own 97.29% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Minerals Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday, October 30th.

Minerals Technologies Stock Performance

MTX stock traded up $0.44 on Friday, reaching $81.57. The company's stock had a trading volume of 79,802 shares, compared to its average volume of 141,984. The firm has a fifty day moving average of $78.44 and a two-hundred day moving average of $79.22. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.46 and a quick ratio of 1.72. The company has a market capitalization of $2.60 billion, a P/E ratio of 17.28 and a beta of 1.31. Minerals Technologies Inc. has a 52 week low of $61.46 and a 52 week high of $90.29.

Minerals Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.54%. This is a positive change from Minerals Technologies's previous quarterly dividend of $0.10. The ex-dividend date is Thursday, October 31st. Minerals Technologies's dividend payout ratio (DPR) is 9.32%.

About Minerals Technologies

Minerals Technologies Inc develops, produces, and markets various mineral, mineral-based, and related systems and services. The company operates through two segments, Consumer & Specialties, and Engineered Solutions segments. The Consumer & Specialties segment offers household and personal care products, such as pet litter, personal care, fabric care, edible oil and other fluid purification, animal health, and agricultural products; and specialty additives products, including precipitated calcium carbonate and ground calcium carbonate products that are used in the paper, paperboard, and fiber based packaging industries, as well as automotive, construction, and table and food applications.