Legato Capital Management LLC Takes Position in Minerals Technologies Inc. (NYSE:MTX)

Legato Capital Management LLC bought a new stake in Minerals Technologies Inc. (NYSE:MTX) in the fourth quarter, HoldingsChannel.com reports. The firm bought 22,638 shares of the basic materials company’s stock, valued at approximately $1,725,000.

A number of other institutional investors also recently bought and sold shares of MTX. Blue Trust Inc. increased its position in shares of Minerals Technologies by 2,418.2% during the third quarter. Blue Trust Inc. now owns 831 shares of the basic materials company’s stock worth $69,000 after purchasing an additional 798 shares in the last quarter. KBC Group NV increased its position in Minerals Technologies by 43.9% during the 4th quarter. KBC Group NV now owns 1,478 shares of the basic materials company’s stock worth $113,000 after purchasing an additional 451 shares during the period. CWM LLC increased its position in Minerals Technologies by 40.6% during the 3rd quarter. CWM LLC now owns 1,870 shares of the basic materials company’s stock worth $144,000 after purchasing an additional 540 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Minerals Technologies during the 4th quarter worth approximately $145,000. Finally, Paloma Partners Management Co purchased a new stake in shares of Minerals Technologies during the 3rd quarter worth approximately $214,000. 97.29% of the stock is owned by hedge funds and other institutional investors.

Minerals Technologies Price Performance

Shares of NYSE:MTX opened at $73.58 on Wednesday. Minerals Technologies Inc. has a 52 week low of $68.29 and a 52 week high of $90.29. The company has a current ratio of 2.46, a quick ratio of 1.72 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $2.35 billion, a P/E ratio of 14.20 and a beta of 1.30. The firm’s 50 day moving average is $76.58 and its two-hundred day moving average is $76.50.

Minerals Technologies (NYSE:MTX) last posted its quarterly earnings data on Thursday, February 6th. The basic materials company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.11. Minerals Technologies had a net margin of 7.89% and a return on equity of 11.61%. Analysts anticipate that Minerals Technologies Inc. will post 6.81 earnings per share for the current year.

Minerals Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date is Friday, February 14th. Minerals Technologies’s dividend payout ratio is currently 8.49%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Truist Financial reduced their price target on Minerals Technologies from $103.00 to $101.00 and set a “buy” rating on the stock in a research note on Monday. StockNews.com upgraded Minerals Technologies from a “hold” rating to a “buy” rating in a report on Thursday, February 6th.

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.