Minerals Technologies Inc. (NYSE:MTX) Shares Sold by Gotham Asset Management LLC

Gotham Asset Management LLC cut its stake in Minerals Technologies Inc. (NYSE:MTX) by 30.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,917 shares of the basic materials company’s stock after selling 6,537 shares during the period. Gotham Asset Management LLC’s holdings in Minerals Technologies were worth $1,137,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Smartleaf Asset Management LLC increased its holdings in shares of Minerals Technologies by 181.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 506 shares of the basic materials company’s stock valued at $38,000 after purchasing an additional 326 shares in the last quarter. Quarry LP increased its holdings in shares of Minerals Technologies by 536.5% during the 4th quarter. Quarry LP now owns 732 shares of the basic materials company’s stock valued at $56,000 after purchasing an additional 617 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Minerals Technologies by 21.4% during the 4th quarter. Blue Trust Inc. now owns 1,009 shares of the basic materials company’s stock valued at $78,000 after purchasing an additional 178 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in shares of Minerals Technologies during the 4th quarter valued at approximately $78,000. Finally, KBC Group NV increased its holdings in shares of Minerals Technologies by 43.9% during the 4th quarter. KBC Group NV now owns 1,478 shares of the basic materials company’s stock valued at $113,000 after purchasing an additional 451 shares in the last quarter. 97.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Kristina M. Johnson purchased 1,000 shares of the company’s stock in a transaction that occurred on Friday, May 2nd. The shares were purchased at an average price of $53.79 per share, for a total transaction of $53,790.00. Following the purchase, the director now directly owns 1,400 shares of the company’s stock, valued at $75,306. This represents a 250.00% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Truist Financial cut their target price on shares of Minerals Technologies from $92.00 to $80.00 and set a “buy” rating for the company in a report on Monday, April 28th. StockNews.com lowered shares of Minerals Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, April 9th.

Minerals Technologies Price Performance

Minerals Technologies stock opened at $59.43 on Friday. Minerals Technologies Inc. has a 52-week low of $49.54 and a 52-week high of $90.30. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of 11.47 and a beta of 1.22. The company has a fifty day simple moving average of $58.89 and a 200-day simple moving average of $70.15. The company has a quick ratio of 1.98, a current ratio of 2.84 and a debt-to-equity ratio of 0.54.

Minerals Technologies (NYSE:MTX) last announced its quarterly earnings results on Thursday, April 24th. The basic materials company reported $1.14 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.02). Minerals Technologies had a net margin of 7.89% and a return on equity of 11.49%. The firm had revenue of $491.80 million for the quarter, compared to analyst estimates of $502.03 million. During the same period in the previous year, the firm posted $1.49 EPS. The company’s revenue was down 8.0% compared to the same quarter last year. On average, equities analysts anticipate that Minerals Technologies Inc. will post 6.62 EPS for the current fiscal year.

Minerals Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 30th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.74%. Minerals Technologies’s payout ratio is -57.14%.

Minerals Technologies Company Profile

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.