Bridgewater Associates LP Sells 27,982 Shares of Minerals Technologies Inc. (NYSE:MTX)

Bridgewater Associates LP cut its stake in shares of Minerals Technologies Inc. (NYSE:MTX - Free Report) by 77.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,956 shares of the basic materials company's stock after selling 27,982 shares during the period. Bridgewater Associates LP's holdings in Minerals Technologies were worth $606,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. FMR LLC boosted its stake in Minerals Technologies by 42.7% in the 4th quarter. FMR LLC now owns 1,761,925 shares of the basic materials company's stock valued at $134,276,000 after purchasing an additional 527,206 shares during the period. Norges Bank acquired a new stake in shares of Minerals Technologies during the fourth quarter worth $16,360,000. American Century Companies Inc. boosted its position in shares of Minerals Technologies by 31.1% in the fourth quarter. American Century Companies Inc. now owns 861,173 shares of the basic materials company's stock valued at $65,630,000 after acquiring an additional 204,371 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Minerals Technologies in the fourth quarter valued at about $10,797,000. Finally, Foundry Partners LLC bought a new position in Minerals Technologies during the fourth quarter worth about $7,735,000. Institutional investors own 97.29% of the company's stock.

Minerals Technologies Price Performance

MTX traded up $0.34 on Wednesday, hitting $57.57. 237,989 shares of the stock were exchanged, compared to its average volume of 172,953. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.84 and a quick ratio of 1.98. Minerals Technologies Inc. has a 12 month low of $52.40 and a 12 month high of $90.30. The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of 11.11 and a beta of 1.25. The business has a 50-day moving average of $64.01 and a two-hundred day moving average of $72.92.

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

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. StockNews.com lowered shares of Minerals Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday, April 9th. Truist Financial reduced their price target on Minerals Technologies from $101.00 to $92.00 and set a "buy" rating on the stock in a research report on Monday, April 14th.

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.