Fmr LLC Acquires 482,674 Shares of Minerals Technologies Inc. (NYSE:MTX)

FMR LLC raised its holdings in Minerals Technologies Inc. (NYSE:MTX - Free Report) by 64.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,234,719 shares of the basic materials company's stock after purchasing an additional 482,674 shares during the quarter. FMR LLC owned 3.87% of Minerals Technologies worth $95,357,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of MTX. Diversified Trust Co increased its stake in shares of Minerals Technologies by 4.0% in the third quarter. Diversified Trust Co now owns 10,933 shares of the basic materials company's stock valued at $844,000 after buying an additional 419 shares during the period. Summit Global Investments boosted its position in Minerals Technologies by 2.6% during the second quarter. Summit Global Investments now owns 18,799 shares of the basic materials company's stock valued at $1,563,000 after acquiring an additional 480 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Minerals Technologies by 3.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,522 shares of the basic materials company's stock worth $1,457,000 after acquiring an additional 526 shares in the last quarter. CWM LLC boosted its position in shares of Minerals Technologies by 40.6% during the 3rd quarter. CWM LLC now owns 1,870 shares of the basic materials company's stock valued at $144,000 after purchasing an additional 540 shares in the last quarter. Finally, Picton Mahoney Asset Management bought a new stake in shares of Minerals Technologies in the 2nd quarter valued at $52,000. Institutional investors own 97.29% of the company's stock.

Analyst Upgrades and Downgrades

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

Minerals Technologies Price Performance

Shares of MTX traded down $0.47 during mid-day trading on Friday, reaching $79.74. 88,092 shares of the stock traded hands, compared to its average volume of 159,205. Minerals Technologies Inc. has a 1 year low of $63.01 and a 1 year high of $90.29. The firm has a fifty day moving average price of $79.02 and a 200 day moving average price of $79.25. 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 company has a market cap of $2.54 billion, a price-to-earnings ratio of 16.99 and a beta of 1.30.

Minerals Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Thursday, October 31st were issued a dividend of $0.11 per share. This is a positive change from Minerals Technologies's previous quarterly dividend of $0.10. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date was Thursday, October 31st. Minerals Technologies's dividend payout ratio is currently 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.