Summit Global Investments Sells 7,363 Shares of Minerals Technologies Inc. (NYSE:MTX)

Summit Global Investments decreased its position in shares of Minerals Technologies Inc. (NYSE:MTX - Free Report) by 39.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,436 shares of the basic materials company's stock after selling 7,363 shares during the quarter. Summit Global Investments' holdings in Minerals Technologies were worth $883,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. UniSuper Management Pty Ltd purchased a new stake in Minerals Technologies during the 1st quarter worth about $628,000. Panagora Asset Management Inc. boosted 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 worth $17,579,000 after acquiring an additional 25,831 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Minerals Technologies by 27.6% during the 1st quarter. BNP Paribas Financial Markets now owns 44,236 shares of the basic materials company's stock worth $3,330,000 after acquiring an additional 9,580 shares during the period. Boston Partners acquired a new position in Minerals Technologies in the first quarter valued at $1,058,000. Finally, Acadian Asset Management LLC boosted its position in Minerals Technologies by 100.1% during the 1st quarter. Acadian Asset Management LLC now owns 42,500 shares of the basic materials company's stock worth $3,197,000 after purchasing an additional 21,259 shares during the period. 97.29% of the stock is currently owned by hedge funds and other institutional investors.

Minerals Technologies Stock Performance

MTX traded up $0.87 during midday trading on Friday, reaching $82.49. The company's stock had a trading volume of 152,642 shares, compared to its average volume of 159,937. Minerals Technologies Inc. has a twelve month low of $57.93 and a twelve month high of $90.29. The stock has a market cap of $2.63 billion, a P/E ratio of 17.48 and a beta of 1.31. The company has a fifty day simple moving average of $75.78 and a 200 day simple moving average of $78.69. The company has a current ratio of 2.46, a quick ratio of 1.72 and a debt-to-equity ratio of 0.51.

Minerals Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend is Thursday, October 31st. This is a boost from Minerals Technologies's previous quarterly dividend of $0.10. Minerals Technologies's dividend payout ratio (DPR) is currently 9.32%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Minerals Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday, October 30th.

About Minerals Technologies

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.