Summit Global Investments lowered its position in shares of Minerals Technologies Inc. (NYSE:MTX - Free Report) by 43.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund 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 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Intech Investment Management LLC acquired a new stake in shares of Minerals Technologies during the third quarter worth $441,000. Charles Schwab Investment Management Inc. lifted its position in Minerals Technologies by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 552,510 shares of the basic materials company's stock worth $42,670,000 after buying an additional 7,593 shares during the period. Algert Global LLC boosted its stake in Minerals Technologies by 8.7% in the 3rd quarter. Algert Global LLC now owns 44,512 shares of the basic materials company's stock worth $3,438,000 after buying an additional 3,556 shares during the last quarter. FMR LLC grew its holdings in Minerals Technologies by 64.2% in the 3rd quarter. FMR LLC now owns 1,234,719 shares of the basic materials company's stock valued at $95,357,000 after buying an additional 482,674 shares during the period. Finally, Quantbot Technologies LP acquired a new position in shares of Minerals Technologies during the 3rd quarter valued at about $656,000. 97.29% of the stock is owned by hedge funds and other institutional investors.
Minerals Technologies Trading Down 1.5 %
MTX stock traded down $1.02 during trading on Tuesday, reaching $65.18. 129,691 shares of the stock traded hands, compared to its average volume of 156,250. The business's 50 day moving average price is $71.78 and its 200-day moving average price is $75.34. The firm has a market capitalization of $2.08 billion, a PE ratio of 12.58 and a beta of 1.28. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.84 and a quick ratio of 1.98. Minerals Technologies Inc. has a 52-week low of $64.30 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 earnings per share (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%. As a group, sell-side analysts forecast that Minerals Technologies Inc. will post 6.62 earnings per share for the current year.
Minerals Technologies Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 14th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date was Friday, February 14th. Minerals Technologies's dividend payout ratio is presently 8.49%.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on the stock. Truist Financial decreased 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 report on Monday, February 10th. StockNews.com lowered shares of Minerals Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, March 19th.
View Our Latest Stock Report on Minerals Technologies
Minerals Technologies Company Profile
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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.
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