Blue Trust Inc. Grows Stake in Minerals Technologies Inc. $MTX

Blue Trust Inc. lifted its stake in shares of Minerals Technologies Inc. (NYSE:MTX) by 44.6% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,011 shares of the basic materials company’s stock after acquiring an additional 312 shares during the period. Blue Trust Inc.’s holdings in Minerals Technologies were worth $56,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. American Century Companies Inc. lifted its holdings in shares of Minerals Technologies by 24.0% during the 1st quarter. American Century Companies Inc. now owns 1,068,079 shares of the basic materials company’s stock worth $67,898,000 after acquiring an additional 206,906 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Minerals Technologies by 6.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 543,547 shares of the basic materials company’s stock worth $33,879,000 after acquiring an additional 32,342 shares during the last quarter. Nuveen LLC bought a new stake in shares of Minerals Technologies during the 1st quarter worth $33,177,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Minerals Technologies by 7.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 393,285 shares of the basic materials company’s stock worth $25,001,000 after acquiring an additional 28,877 shares during the last quarter. Finally, Gamco Investors INC. ET AL lifted its holdings in shares of Minerals Technologies by 0.8% during the 1st quarter. Gamco Investors INC. ET AL now owns 240,100 shares of the basic materials company’s stock worth $15,263,000 after acquiring an additional 1,800 shares during the last quarter. 97.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on MTX. Wall Street Zen downgraded shares of Minerals Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday. Truist Financial boosted their price target on shares of Minerals Technologies from $80.00 to $84.00 and gave the stock a “buy” rating in a research note on Monday, July 28th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Minerals Technologies in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $84.00.

Minerals Technologies Stock Performance

Shares of NYSE:MTX opened at $59.32 on Friday. The company has a market cap of $1.86 billion, a price-to-earnings ratio of 988.86 and a beta of 1.23. The company has a 50-day moving average price of $62.23 and a 200-day moving average price of $58.79. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.57. Minerals Technologies Inc. has a 12 month low of $49.54 and a 12 month high of $86.49.

Minerals Technologies (NYSE:MTX) last issued its quarterly earnings data on Wednesday, March 15th. The basic materials company reported $1.50 EPS for the quarter. The firm had revenue of $557.00 million during the quarter. Minerals Technologies had a net margin of 0.10% and a return on equity of 10.64%. As a group, equities analysts anticipate that Minerals Technologies Inc. will post 6.62 EPS for the current year.

Minerals Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Stockholders of record on Thursday, October 30th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.8%. This is a positive change from Minerals Technologies’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Thursday, October 30th. Minerals Technologies’s payout ratio is currently 733.33%.

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.