Principal Financial Group Inc. increased its position in shares of Minerals Technologies Inc. (NYSE:MTX - Free Report) by 2.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 166,647 shares of the basic materials company's stock after buying an additional 4,356 shares during the period. Principal Financial Group Inc. owned about 0.52% of Minerals Technologies worth $12,700,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the company. Rhumbline Advisers lifted its stake in shares of Minerals Technologies by 1.9% in the fourth quarter. Rhumbline Advisers now owns 99,525 shares of the basic materials company's stock worth $7,585,000 after acquiring an additional 1,877 shares in the last quarter. Legato Capital Management LLC purchased a new stake in Minerals Technologies during the 4th quarter worth approximately $1,725,000. Allspring Global Investments Holdings LLC raised its position in shares of Minerals Technologies by 1.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 511,205 shares of the basic materials company's stock valued at $38,330,000 after purchasing an additional 7,488 shares in the last quarter. Savant Capital LLC boosted its stake in shares of Minerals Technologies by 7.4% during the 4th quarter. Savant Capital LLC now owns 3,783 shares of the basic materials company's stock valued at $288,000 after buying an additional 260 shares during the last quarter. Finally, Guidance Capital Inc. acquired a new stake in shares of Minerals Technologies during the fourth quarter worth approximately $462,000. Institutional investors and hedge funds own 97.29% of the company's stock.
Analyst Ratings Changes
A number of research analysts have commented on the stock. Truist Financial reduced their price objective on shares of Minerals Technologies from $103.00 to $101.00 and set a "buy" rating on the stock in a research note on Monday, February 10th. StockNews.com cut shares of Minerals Technologies from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th.
View Our Latest Stock Report on MTX
Minerals Technologies Stock Performance
Shares of NYSE MTX traded down $1.27 during trading on Monday, reaching $67.48. The stock had a trading volume of 101,642 shares, compared to its average volume of 173,798. The firm's 50 day moving average price is $74.32 and its two-hundred day moving average price is $76.23. Minerals Technologies Inc. has a one year low of $67.22 and a one year high of $90.29. The stock has a market cap of $2.15 billion, a PE ratio of 13.03 and a beta of 1.30. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.98 and a current ratio of 2.84.
Minerals Technologies (NYSE:MTX - Get Free Report) last issued its earnings results on Thursday, February 6th. The basic materials company reported $1.50 earnings per share for the quarter, topping analysts' consensus estimates 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, research analysts forecast that Minerals Technologies Inc. will post 6.62 earnings per share for the current fiscal year.
Minerals Technologies Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.44 dividend on an annualized basis and a yield of 0.65%. Minerals Technologies's payout ratio is currently 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.
Featured Articles
Before you consider Minerals Technologies, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Minerals Technologies wasn't on the list.
While Minerals Technologies currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
