JPMorgan Chase & Co. Raises Stake in Minerals Technologies Inc. (NYSE:MTX)

JPMorgan Chase & Co. lifted its holdings in Minerals Technologies Inc. (NYSE:MTX - Free Report) by 9.7% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 115,887 shares of the basic materials company's stock after purchasing an additional 10,284 shares during the period. JPMorgan Chase & Co. owned approximately 0.36% of Minerals Technologies worth $8,950,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its position in shares of Minerals Technologies by 2,418.2% during 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 in the last quarter. Quarry LP lifted its stake in Minerals Technologies by 1,857.4% in the second quarter. Quarry LP now owns 920 shares of the basic materials company's stock worth $77,000 after acquiring an additional 873 shares during the last quarter. CWM LLC grew its holdings in Minerals Technologies by 40.6% during the 3rd quarter. CWM LLC now owns 1,870 shares of the basic materials company's stock worth $144,000 after acquiring an additional 540 shares in the last quarter. Paloma Partners Management Co purchased a new stake in shares of Minerals Technologies in the 3rd quarter valued at approximately $214,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Minerals Technologies in the 2nd quarter valued at approximately $223,000. 97.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Minerals Technologies Stock Up 2.8 %

Shares of NYSE MTX traded up $2.09 during midday trading on Tuesday, hitting $75.63. 126,587 shares of the company's stock were exchanged, compared to its average volume of 156,336. The firm's fifty day simple moving average is $78.86 and its 200-day simple moving average is $77.67. The company has a market cap of $2.41 billion, a PE ratio of 16.02 and a beta of 1.31. Minerals Technologies Inc. has a twelve month low of $64.79 and a twelve month high of $90.29. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.46 and a quick ratio of 1.72.

Minerals Technologies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Thursday, October 31st were given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.58%. This is an increase from Minerals Technologies's previous quarterly dividend of $0.10. The ex-dividend date was Thursday, October 31st. Minerals Technologies's dividend payout ratio (DPR) is 9.32%.

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.