Empowered Funds LLC Sells 15,110 Shares of Minerals Technologies Inc. $MTX

Empowered Funds LLC trimmed its holdings in shares of Minerals Technologies Inc. (NYSE:MTX) by 84.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,872 shares of the basic materials company’s stock after selling 15,110 shares during the quarter. Empowered Funds LLC’s holdings in Minerals Technologies were worth $204,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. EverSource Wealth Advisors LLC raised its holdings in shares of Minerals Technologies by 626.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 596 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 514 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Minerals Technologies by 36.0% during the first quarter. Parallel Advisors LLC now owns 552 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 146 shares in the last quarter. Torren Management LLC purchased a new position in shares of Minerals Technologies during the fourth quarter worth about $50,000. Danske Bank A S bought a new position in shares of Minerals Technologies in the third quarter worth approximately $56,000. Finally, Strs Ohio bought a new position in shares of Minerals Technologies in the first quarter worth approximately $70,000. 97.29% of the stock is currently owned by institutional investors.

Minerals Technologies Price Performance

Shares of NYSE:MTX opened at $70.41 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.43 and a debt-to-equity ratio of 0.60. The stock has a market cap of $2.19 billion, a PE ratio of -32.45 and a beta of 1.14. The company’s fifty day moving average is $74.71 and its 200 day moving average is $73.44. Minerals Technologies Inc. has a 52 week low of $53.94 and a 52 week high of $84.34.

Minerals Technologies (NYSE:MTX) last posted its quarterly earnings results on Thursday, July 30th. The basic materials company reported $1.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.64 by ($0.04). Minerals Technologies had a negative net margin of 3.13% and a positive return on equity of 10.63%. The business had revenue of $548.40 million for the quarter, compared to analysts’ expectations of $558.77 million. During the same quarter in the previous year, the company earned $1.55 earnings per share. The business’s quarterly revenue was up 3.7% on a year-over-year basis. Research analysts anticipate that Minerals Technologies Inc. will post 6.03 earnings per share for the current year.

Minerals Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Friday, August 14th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, August 14th. Minerals Technologies’s payout ratio is -22.12%.

Wall Street Analyst Weigh In

MTX has been the subject of several research analyst reports. Truist Financial lifted their target price on shares of Minerals Technologies from $89.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Weiss Ratings lowered shares of Minerals Technologies from a “hold (c+)” rating to a “sell (d+)” rating in a report on Monday, August 3rd. Wall Street Zen cut shares of Minerals Technologies from a “strong-buy” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Seaport Research Partners reaffirmed a “buy” rating on shares of Minerals Technologies in a report on Monday, May 4th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Minerals Technologies currently has an average rating of “Hold” and a consensus price target of $90.00.

About Minerals Technologies

Minerals Technologies Inc develops, produces and processes a broad range of mineral-based products and solutions that serve a variety of industrial applications. Its offerings include bentonite, perlite, precipitated calcium carbonate (PCC), mineral sands, foundry additives, performance minerals and specialty chemicals designed to enhance performance in markets such as paper, steel, construction, oil and gas, environmental remediation and consumer products.

The company operates through several business segments, including Specialty Minerals, Refractory Minerals, Performance Materials and Recycled Materials.