Franklin Resources Inc. Has $3.73 Million Position in Minerals Technologies Inc. (NYSE:MTX)

Franklin Resources Inc. boosted its stake in Minerals Technologies Inc. (NYSE:MTX - Free Report) by 21.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,847 shares of the basic materials company's stock after purchasing an additional 8,335 shares during the quarter. Franklin Resources Inc. owned about 0.15% of Minerals Technologies worth $3,728,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. 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 stake in shares of Minerals Technologies by 2,418.2% in the 3rd quarter. Blue Trust Inc. now owns 831 shares of the basic materials company's stock valued at $69,000 after purchasing an additional 798 shares during the last quarter. Innealta Capital LLC acquired a new position in shares of Minerals Technologies during the 2nd quarter worth $76,000. Quarry LP lifted its position in shares of Minerals Technologies by 1,857.4% during the 2nd quarter. Quarry LP now owns 920 shares of the basic materials company's stock worth $77,000 after buying an additional 873 shares during the last quarter. Finally, Wolverine Asset Management LLC boosted its stake in Minerals Technologies by 128.5% in the second quarter. Wolverine Asset Management LLC now owns 1,705 shares of the basic materials company's stock valued at $142,000 after buying an additional 7,693 shares in the last quarter. Institutional investors own 97.29% of the company's stock.

Minerals Technologies Price Performance

NYSE:MTX traded up $0.68 on Wednesday, hitting $76.73. The company had a trading volume of 50,828 shares, compared to its average volume of 160,547. Minerals Technologies Inc. has a 52 week low of $64.79 and a 52 week high of $90.29. The company has a current ratio of 2.46, a quick ratio of 1.72 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of 16.26 and a beta of 1.30. The firm has a 50 day moving average of $79.54 and a two-hundred day moving average of $78.57.

Minerals Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Thursday, October 31st were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.57%. This is a boost from Minerals Technologies's previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Thursday, October 31st. Minerals Technologies's dividend payout ratio is presently 9.32%.

Wall Street Analyst Weigh In

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

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.