Norges Bank Makes New $16.36 Million Investment in Minerals Technologies Inc. (NYSE:MTX)

Norges Bank purchased a new stake in shares of Minerals Technologies Inc. (NYSE:MTX - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 214,676 shares of the basic materials company's stock, valued at approximately $16,360,000. Norges Bank owned 0.67% of Minerals Technologies at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Smartleaf Asset Management LLC increased its holdings in shares of Minerals Technologies by 181.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 506 shares of the basic materials company's stock valued at $38,000 after purchasing an additional 326 shares during the period. Blue Trust Inc. grew its position in Minerals Technologies by 21.4% during the fourth quarter. Blue Trust Inc. now owns 1,009 shares of the basic materials company's stock valued at $78,000 after purchasing an additional 178 shares in the last quarter. Venturi Wealth Management LLC acquired a new position in Minerals Technologies in the 4th quarter valued at approximately $78,000. KBC Group NV lifted its position in Minerals Technologies by 43.9% in the 4th quarter. KBC Group NV now owns 1,478 shares of the basic materials company's stock worth $113,000 after buying an additional 451 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Minerals Technologies during the 4th quarter valued at $145,000. 97.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Truist Financial cut their price objective on Minerals Technologies from $103.00 to $101.00 and set a "buy" rating for the company in a report on Monday, February 10th. StockNews.com downgraded Minerals Technologies from a "buy" rating to a "hold" rating in a research note on Wednesday.

Minerals Technologies Stock Up 0.6 %

MTX stock traded up $0.34 during trading hours on Friday, hitting $56.19. The company's stock had a trading volume of 187,930 shares, compared to its average volume of 171,006. The stock has a 50 day moving average price of $66.45 and a two-hundred day moving average price of $73.86. Minerals Technologies Inc. has a 12 month low of $52.40 and a 12 month high of $90.30. The company has a market capitalization of $1.79 billion, a PE ratio of 10.85 and a beta of 1.25. The company has a quick ratio of 1.98, a current ratio of 2.84 and a debt-to-equity ratio of 0.54.

Minerals Technologies (NYSE:MTX - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The basic materials company reported $1.50 earnings per share (EPS) for the quarter, beating 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%. On average, equities research analysts expect that Minerals Technologies Inc. will post 6.62 earnings per share for the current year.

Minerals Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 14th were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend was Friday, February 14th. Minerals Technologies's dividend payout ratio is 8.49%.

Minerals Technologies Company 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.