Brandes Investment Partners LP Invests $3.65 Million in Minerals Technologies Inc. (NYSE:MTX)

Brandes Investment Partners LP purchased a new position in shares of Minerals Technologies Inc. (NYSE:MTX - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 47,864 shares of the basic materials company's stock, valued at approximately $3,648,000. Brandes Investment Partners LP owned about 0.15% of Minerals Technologies at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Picton Mahoney Asset Management raised its holdings in Minerals Technologies by 1,347.0% in the 4th quarter. Picton Mahoney Asset Management now owns 7,105 shares of the basic materials company's stock valued at $542,000 after acquiring an additional 6,614 shares in the last quarter. Vestcor Inc acquired a new position in Minerals Technologies in the 4th quarter valued at $185,000. Swiss National Bank raised its holdings in Minerals Technologies by 0.6% in the 4th quarter. Swiss National Bank now owns 63,300 shares of the basic materials company's stock valued at $4,824,000 after acquiring an additional 400 shares in the last quarter. Great Lakes Advisors LLC raised its holdings in Minerals Technologies by 4.4% in the 4th quarter. Great Lakes Advisors LLC now owns 55,553 shares of the basic materials company's stock valued at $4,234,000 after acquiring an additional 2,332 shares in the last quarter. Finally, HighTower Advisors LLC raised its holdings in Minerals Technologies by 602.4% in the 4th quarter. HighTower Advisors LLC now owns 27,877 shares of the basic materials company's stock valued at $2,125,000 after acquiring an additional 23,908 shares in the last quarter. 97.29% of the stock is owned by institutional investors and hedge funds.

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Minerals Technologies Trading Down 1.4 %

Shares of NYSE:MTX traded down $0.94 during trading on Thursday, reaching $67.07. The stock had a trading volume of 172,414 shares, compared to its average volume of 151,997. The firm's fifty day moving average is $72.19 and its 200 day moving average is $75.52. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.98 and a current ratio of 2.84. Minerals Technologies Inc. has a 52 week low of $65.64 and a 52 week high of $90.30. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of 12.95 and a beta of 1.28.

Minerals Technologies (NYSE:MTX - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The basic materials company reported $1.50 earnings per share for the quarter, beating analysts' consensus estimates of $1.39 by $0.11. Minerals Technologies had a net margin of 7.89% and a return on equity of 11.49%. As a group, equities analysts forecast that Minerals Technologies Inc. will post 6.62 EPS for the current fiscal year.

Minerals Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 14th were paid a $0.11 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.44 annualized dividend and a dividend yield of 0.66%. Minerals Technologies's payout ratio is 8.49%.

Analysts Set New Price Targets

MTX has been the subject of several analyst reports. Truist Financial dropped their price objective on Minerals Technologies from $103.00 to $101.00 and set a "buy" rating for the company in a report on Monday, February 10th. StockNews.com cut Minerals Technologies from a "buy" rating to a "hold" rating in a report on Wednesday.

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.