Summit Global Investments Sells 4,963 Shares of Minerals Technologies Inc. (NYSE:MTX)

Summit Global Investments reduced its holdings in Minerals Technologies Inc. (NYSE:MTX - Free Report) by 43.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,473 shares of the basic materials company's stock after selling 4,963 shares during the quarter. Summit Global Investments' holdings in Minerals Technologies were worth $493,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Teacher Retirement System of Texas boosted its holdings in shares of Minerals Technologies by 42.3% in the 4th quarter. Teacher Retirement System of Texas now owns 47,929 shares of the basic materials company's stock valued at $3,653,000 after buying an additional 14,253 shares during the last quarter. Cibc World Markets Corp bought a new position in Minerals Technologies in the 4th quarter valued at approximately $226,000. Brandes Investment Partners LP acquired a new position in Minerals Technologies in the fourth quarter valued at approximately $3,648,000. Picton Mahoney Asset Management grew its holdings in Minerals Technologies by 1,347.0% in the fourth quarter. Picton Mahoney Asset Management now owns 7,105 shares of the basic materials company's stock worth $542,000 after purchasing an additional 6,614 shares during the period. Finally, Vestcor Inc acquired a new stake in shares of Minerals Technologies in the 4th quarter valued at about $185,000. Institutional investors own 97.29% of the company's stock.

Analysts Set New Price Targets

MTX has been the topic of several recent research reports. StockNews.com cut shares of Minerals Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday, March 19th. Truist Financial dropped their target price 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.

Minerals Technologies Price Performance

Shares of NYSE MTX traded down $1.12 during mid-day trading on Friday, reaching $63.77. 173,565 shares of the company were exchanged, compared to its average volume of 167,828. The company has a quick ratio of 1.98, a current ratio of 2.84 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $2.03 billion, a PE ratio of 12.31 and a beta of 1.28. The company's 50 day moving average price is $71.15 and its 200 day moving average price is $75.16. Minerals Technologies Inc. has a 52 week low of $62.77 and a 52 week high of $90.30.

Minerals Technologies (NYSE:MTX - Get Free Report) last issued its 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 net margin of 7.89% and a return on equity of 11.49%. Sell-side analysts forecast that Minerals Technologies Inc. will post 6.62 earnings per share for the current fiscal year.

Minerals Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 14th were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend was Friday, February 14th. Minerals Technologies's payout ratio is 8.49%.

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.