21,532 Shares in Minerals Technologies Inc. $MTX Purchased by Kimelman & Baird LLC

Kimelman & Baird LLC purchased a new stake in shares of Minerals Technologies Inc. (NYSE:MTX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 21,532 shares of the basic materials company’s stock, valued at approximately $1,593,000.

Other hedge funds have also recently made changes to their positions in the company. Royal Bank of Canada raised its holdings in shares of Minerals Technologies by 28.4% in the first quarter. Royal Bank of Canada now owns 19,629 shares of the basic materials company’s stock worth $1,249,000 after buying an additional 4,337 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Minerals Technologies by 9.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 110,044 shares of the basic materials company’s stock valued at $6,995,000 after acquiring an additional 9,363 shares in the last quarter. Jane Street Group LLC boosted its position in Minerals Technologies by 177.6% during the first quarter. Jane Street Group LLC now owns 68,156 shares of the basic materials company’s stock worth $4,333,000 after acquiring an additional 43,604 shares during the last quarter. Intech Investment Management LLC grew its holdings in Minerals Technologies by 30.5% in the 1st quarter. Intech Investment Management LLC now owns 18,504 shares of the basic materials company’s stock valued at $1,176,000 after buying an additional 4,322 shares in the last quarter. Finally, Strs Ohio acquired a new stake in shares of Minerals Technologies during the 1st quarter worth approximately $70,000. 97.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Minerals Technologies Price Performance

Shares of NYSE:MTX opened at $72.06 on Friday. Minerals Technologies Inc. has a one year low of $53.94 and a one year high of $84.34. The company has a 50-day simple moving average of $73.97 and a 200-day simple moving average of $73.48. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.00 and a current ratio of 1.43. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of -33.21 and a beta of 1.14.

Minerals Technologies (NYSE:MTX) last released its earnings results on Thursday, July 30th. The basic materials company reported $1.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $548.40 million during the quarter, compared to analyst estimates of $558.77 million. During the same period in the previous year, the firm posted $1.55 EPS. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, analysts predict that Minerals Technologies Inc. will post 6.03 EPS for the current year.

Minerals Technologies Dividend Announcement

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

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.