New York State Teachers Retirement System lessened its stake in Minerals Technologies Inc. (NYSE:MTX - Free Report) by 11.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 37,309 shares of the basic materials company's stock after selling 4,911 shares during the quarter. New York State Teachers Retirement System owned approximately 0.12% of Minerals Technologies worth $2,843,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. State Street Corp lifted its stake in Minerals Technologies by 2.6% in the 3rd quarter. State Street Corp now owns 1,268,792 shares of the basic materials company's stock valued at $97,989,000 after buying an additional 32,196 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Minerals Technologies by 9.7% during the third quarter. JPMorgan Chase & Co. now owns 115,887 shares of the basic materials company's stock valued at $8,950,000 after acquiring an additional 10,284 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Minerals Technologies by 21.1% in the third quarter. Franklin Resources Inc. now owns 47,847 shares of the basic materials company's stock valued at $3,728,000 after acquiring an additional 8,335 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in Minerals Technologies by 42.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 64,110 shares of the basic materials company's stock valued at $4,951,000 after purchasing an additional 19,037 shares during the last quarter. Finally, Verition Fund Management LLC lifted its holdings in Minerals Technologies by 161.2% in the 3rd quarter. Verition Fund Management LLC now owns 10,332 shares of the basic materials company's stock valued at $798,000 after purchasing an additional 6,377 shares in the last quarter. 97.29% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
MTX has been the subject of a number of research reports. StockNews.com lowered shares of Minerals Technologies from a "buy" rating to a "hold" rating in a report on Tuesday. Truist Financial dropped their price objective on shares of Minerals Technologies from $103.00 to $101.00 and set a "buy" rating for the company in a research note on Monday, February 10th.
Check Out Our Latest Stock Report on Minerals Technologies
Minerals Technologies Trading Up 1.4 %
Minerals Technologies stock traded up $1.00 during trading on Tuesday, reaching $70.74. 272,260 shares of the company were exchanged, compared to its average volume of 173,193. The stock's 50 day simple moving average is $74.89 and its two-hundred day simple moving average is $76.29. The company has a market capitalization of $2.26 billion, a P/E ratio of 13.66 and a beta of 1.30. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.84 and a quick ratio of 1.98. Minerals Technologies Inc. has a 52-week low of $69.43 and a 52-week high of $90.29.
Minerals Technologies (NYSE:MTX - Get Free Report) last posted 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%. On average, equities research analysts expect that Minerals Technologies Inc. will post 6.62 earnings per share for the current fiscal year.
Minerals Technologies Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be issued a $0.11 dividend. The ex-dividend date is Friday, February 14th. This represents a $0.44 annualized dividend and a yield of 0.62%. Minerals Technologies's payout ratio is 8.49%.
About Minerals Technologies
(
Free Report)
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.
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