Cubist Systematic Strategies LLC Has $8.98 Million Stock Holdings in Minerals Technologies Inc. (NYSE:MTX)

Cubist Systematic Strategies LLC increased its position in shares of Minerals Technologies Inc. (NYSE:MTX - Free Report) by 42.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 108,026 shares of the basic materials company's stock after purchasing an additional 32,178 shares during the quarter. Cubist Systematic Strategies LLC owned 0.33% of Minerals Technologies worth $8,983,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of MTX. UniSuper Management Pty Ltd acquired a new position in shares of Minerals Technologies during the 1st quarter worth approximately $628,000. Panagora Asset Management Inc. lifted its position in Minerals Technologies by 13.9% during the second quarter. Panagora Asset Management Inc. now owns 211,382 shares of the basic materials company's stock valued at $17,579,000 after buying an additional 25,831 shares in the last quarter. Norges Bank acquired a new stake in shares of Minerals Technologies in the fourth quarter worth $19,192,000. BNP Paribas Financial Markets raised its position in Minerals Technologies by 27.6% in the first quarter. BNP Paribas Financial Markets now owns 44,236 shares of the basic materials company's stock valued at $3,330,000 after purchasing an additional 9,580 shares during the period. Finally, Boston Partners purchased a new stake in shares of Minerals Technologies during the first quarter valued at approximately $1,058,000. 97.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Minerals Technologies from a "hold" rating to a "buy" rating in a research note on Wednesday.

Minerals Technologies Price Performance

Shares of MTX stock traded down $0.18 during midday trading on Friday, reaching $75.69. 128,753 shares of the company were exchanged, compared to its average volume of 163,234. The company's 50 day moving average price is $75.32 and its two-hundred day moving average price is $77.76. The company has a market cap of $2.44 billion, a P/E ratio of 26.61 and a beta of 1.30. Minerals Technologies Inc. has a 12 month low of $48.61 and a 12 month high of $90.29. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.72 and a current ratio of 2.46.

Minerals Technologies (NYSE:MTX - Get Free Report) last posted its quarterly earnings data on Thursday, July 25th. The basic materials company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.05. Minerals Technologies had a net margin of 4.05% and a return on equity of 11.46%. The company had revenue of $541.20 million during the quarter, compared to analyst estimates of $561.60 million. During the same quarter last year, the firm posted $1.31 EPS. The business's revenue for the quarter was down 1.9% on a year-over-year basis. On average, sell-side analysts expect that Minerals Technologies Inc. will post 6.22 earnings per share for the current year.

Minerals Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 16th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.40 dividend on an annualized basis and a yield of 0.53%. Minerals Technologies's dividend payout ratio is currently 13.84%.

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.