Connor Clark & Lunn Investment Management Ltd. Lowers Stock Position in Minerals Technologies Inc. (NYSE:MTX)

Connor Clark & Lunn Investment Management Ltd. reduced its holdings in shares of Minerals Technologies Inc. (NYSE:MTX - Free Report) by 31.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,440 shares of the basic materials company's stock after selling 6,149 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Minerals Technologies were worth $1,024,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Blue Trust Inc. boosted its holdings in Minerals Technologies by 21.4% in the fourth quarter. Blue Trust Inc. now owns 1,009 shares of the basic materials company's stock valued at $78,000 after purchasing an additional 178 shares in the last quarter. Savant Capital LLC boosted its holdings in shares of Minerals Technologies by 7.4% in the 4th quarter. Savant Capital LLC now owns 3,783 shares of the basic materials company's stock valued at $288,000 after buying an additional 260 shares in the last quarter. QRG Capital Management Inc. grew its position in shares of Minerals Technologies by 4.5% in the 4th quarter. QRG Capital Management Inc. now owns 6,481 shares of the basic materials company's stock valued at $494,000 after buying an additional 280 shares during the last quarter. Smartleaf Asset Management LLC grew its position in shares of Minerals Technologies by 181.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 506 shares of the basic materials company's stock valued at $38,000 after buying an additional 326 shares during the last quarter. Finally, Quantinno Capital Management LP raised its stake in Minerals Technologies by 9.6% during the 3rd quarter. Quantinno Capital Management LP now owns 4,178 shares of the basic materials company's stock worth $323,000 after acquiring an additional 366 shares in the last quarter. Hedge funds and other institutional investors own 97.29% of the company's stock.

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Analyst Upgrades and Downgrades

MTX has been the topic of several research reports. Truist Financial dropped their price objective on Minerals Technologies from $103.00 to $101.00 and set a "buy" rating on the stock in a report on Monday, February 10th. StockNews.com downgraded Minerals Technologies from a "buy" rating to a "hold" rating in a research note on Wednesday, March 19th.

Minerals Technologies Stock Performance

Shares of MTX traded up $1.07 during mid-day trading on Monday, hitting $66.20. 150,727 shares of the company's stock were exchanged, compared to its average volume of 156,046. The company has a current ratio of 2.84, a quick ratio of 1.98 and a debt-to-equity ratio of 0.54. Minerals Technologies Inc. has a fifty-two week low of $64.30 and a fifty-two week high of $90.30. The business's 50 day moving average is $71.92 and its two-hundred day moving average is $75.39. The firm has a market capitalization of $2.11 billion, a P/E ratio of 12.78 and a beta of 1.28.

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

Minerals Technologies Announces Dividend

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

Minerals Technologies Profile

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.