First Eagle Investment Management LLC Lowers Holdings in Minerals Technologies Inc. (NYSE:MTX)

First Eagle Investment Management LLC cut its stake in shares of Minerals Technologies Inc. (NYSE:MTX - Free Report) by 62.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,631 shares of the basic materials company's stock after selling 29,900 shares during the period. First Eagle Investment Management LLC owned about 0.06% of Minerals Technologies worth $1,344,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of MTX. Smartleaf Asset Management LLC raised its holdings in Minerals Technologies by 181.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 506 shares of the basic materials company's stock valued at $38,000 after acquiring an additional 326 shares during the period. Blue Trust Inc. raised its holdings in Minerals Technologies by 21.4% during the fourth quarter. Blue Trust Inc. now owns 1,009 shares of the basic materials company's stock valued at $78,000 after acquiring an additional 178 shares during the period. Venturi Wealth Management LLC bought a new stake in Minerals Technologies during the fourth quarter valued at about $78,000. KBC Group NV increased its holdings in shares of Minerals Technologies by 43.9% in the fourth quarter. KBC Group NV now owns 1,478 shares of the basic materials company's stock worth $113,000 after purchasing an additional 451 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Minerals Technologies in the fourth quarter worth about $145,000. 97.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MTX has been the topic of several research reports. Truist Financial reduced their target price 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 raised Minerals Technologies from a "hold" rating to a "buy" rating in a report on Tuesday, March 11th.

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Minerals Technologies Price Performance

Shares of MTX stock traded up $0.73 during trading hours on Monday, hitting $68.15. The stock had a trading volume of 263,755 shares, compared to its average volume of 150,531. Minerals Technologies Inc. has a one year low of $65.64 and a one year high of $90.30. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.84 and a quick ratio of 1.98. The stock's 50-day moving average price is $72.53 and its two-hundred day moving average price is $75.69. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of 13.16 and a beta of 1.28.

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

Minerals Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 14th were given a dividend of $0.11 per share. The ex-dividend date was Friday, February 14th. This represents a $0.44 annualized dividend and a dividend yield of 0.65%. Minerals Technologies's dividend payout ratio (DPR) is presently 8.49%.

Minerals Technologies Company 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.