M&T Bank Corp Increases Holdings in Minerals Technologies Inc. (NYSE:MTX)

M&T Bank Corp lifted its stake in Minerals Technologies Inc. (NYSE:MTX - Free Report) by 13.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,770 shares of the basic materials company's stock after buying an additional 4,402 shares during the period. M&T Bank Corp owned approximately 0.12% of Minerals Technologies worth $2,878,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Principal Financial Group Inc. increased its holdings in Minerals Technologies by 2.0% during the 3rd quarter. Principal Financial Group Inc. now owns 162,291 shares of the basic materials company's stock valued at $12,534,000 after purchasing an additional 3,230 shares during the period. MQS Management LLC purchased a new position in Minerals Technologies during the 3rd quarter valued at about $343,000. Chesapeake Capital Corp IL increased its holdings in Minerals Technologies by 27.9% during the 3rd quarter. Chesapeake Capital Corp IL now owns 6,653 shares of the basic materials company's stock valued at $504,000 after purchasing an additional 1,451 shares during the period. Thrivent Financial for Lutherans increased its holdings in Minerals Technologies by 42.2% during 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 period. Finally, Corbyn Investment Management Inc. MD increased its holdings in Minerals Technologies by 9.8% during the 3rd quarter. Corbyn Investment Management Inc. MD now owns 30,438 shares of the basic materials company's stock valued at $2,351,000 after purchasing an additional 2,710 shares during the period. Hedge funds and other institutional investors own 97.29% of the company's stock.

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Minerals Technologies Stock Down 0.3 %

Shares of MTX stock traded down $0.20 during midday trading on Friday, reaching $67.91. 198,847 shares of the stock were exchanged, compared to its average volume of 175,949. The company has a current ratio of 2.84, a quick ratio of 1.98 and a debt-to-equity ratio of 0.54. The company's 50 day moving average is $73.40 and its two-hundred day moving average is $75.99. Minerals Technologies Inc. has a 1 year low of $66.33 and a 1 year high of $90.29. The firm has a market cap of $2.17 billion, a PE ratio of 13.11 and a beta of 1.28.

Minerals Technologies (NYSE:MTX - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The basic materials company reported $1.50 EPS for the quarter, topping analysts' consensus estimates 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 predict that Minerals Technologies Inc. will post 6.62 EPS for the current year.

Minerals Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 14th were given a $0.11 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.65%. Minerals Technologies's dividend payout ratio is currently 8.49%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on MTX shares. StockNews.com downgraded Minerals Technologies from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Truist Financial reduced their target price on Minerals Technologies from $103.00 to $101.00 and set a "buy" rating on the stock in a report on Monday, February 10th.

About Minerals Technologies

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.