Princeton Global Asset Management LLC Sells 2,600 Shares of Minerals Technologies Inc. $MTX

Princeton Global Asset Management LLC lessened its stake in shares of Minerals Technologies Inc. (NYSE:MTX) by 72.2% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,000 shares of the basic materials company’s stock after selling 2,600 shares during the period. Princeton Global Asset Management LLC’s holdings in Minerals Technologies were worth $55,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. QRG Capital Management Inc. boosted its position in Minerals Technologies by 7.3% during the first quarter. QRG Capital Management Inc. now owns 6,955 shares of the basic materials company’s stock worth $442,000 after purchasing an additional 474 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Minerals Technologies in the second quarter worth $212,000. SG Americas Securities LLC boosted its holdings in shares of Minerals Technologies by 341.8% during the 1st quarter. SG Americas Securities LLC now owns 8,394 shares of the basic materials company’s stock worth $534,000 after buying an additional 6,494 shares during the period. Principal Financial Group Inc. grew its stake in Minerals Technologies by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 171,008 shares of the basic materials company’s stock valued at $10,871,000 after buying an additional 4,361 shares during the last quarter. Finally, Isthmus Partners LLC bought a new position in Minerals Technologies in the 1st quarter worth $1,279,000. 97.29% of the stock is owned by institutional investors.

Minerals Technologies Stock Performance

Shares of NYSE MTX opened at $60.91 on Tuesday. The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of 1,015.30 and a beta of 1.23. Minerals Technologies Inc. has a one year low of $49.54 and a one year high of $86.49. The business has a fifty day simple moving average of $62.28 and a 200 day simple moving average of $58.83. 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 (NYSE:MTX) last posted its quarterly earnings results on Wednesday, March 15th. The basic materials company reported $1.50 earnings per share for the quarter. Minerals Technologies had a net margin of 0.10% and a return on equity of 10.64%. The firm had revenue of $557.00 million for the quarter. Sell-side analysts expect that Minerals Technologies Inc. will post 6.62 EPS for the current year.

Minerals Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Thursday, October 30th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.8%. This is a boost from Minerals Technologies’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Thursday, October 30th. Minerals Technologies’s dividend payout ratio (DPR) is currently 733.33%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of Minerals Technologies in a report on Wednesday, October 8th. Truist Financial boosted their price objective on Minerals Technologies from $80.00 to $84.00 and gave the stock a “buy” rating in a research report on Monday, July 28th. Finally, Wall Street Zen lowered Minerals Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $84.00.

Minerals Technologies 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.