Raymond James & Associates Buys 2,619 Shares of Minerals Technologies Inc. (NYSE:MTX)

Raymond James & Associates grew its stake in Minerals Technologies Inc. (NYSE:MTX) by 10.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,894 shares of the basic materials company’s stock after purchasing an additional 2,619 shares during the period. Raymond James & Associates owned approximately 0.09% of Minerals Technologies worth $2,018,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in MTX. FMR LLC grew its stake in shares of Minerals Technologies by 426,500.0% in the 1st quarter. FMR LLC now owns 8,532 shares of the basic materials company’s stock valued at $501,000 after purchasing an additional 8,530 shares during the period. First Trust Advisors LP grew its stake in shares of Minerals Technologies by 4.2% in the 1st quarter. First Trust Advisors LP now owns 33,348 shares of the basic materials company’s stock valued at $1,961,000 after purchasing an additional 1,348 shares during the period. Advisor Group Holdings Inc. grew its position in Minerals Technologies by 21.4% during the 2nd quarter. Advisor Group Holdings Inc. now owns 1,616 shares of the basic materials company’s stock worth $128,000 after acquiring an additional 285 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Minerals Technologies by 3.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 22,263 shares of the basic materials company’s stock worth $1,751,000 after acquiring an additional 744 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in Minerals Technologies by 8.7% during the 2nd quarter. Principal Financial Group Inc. now owns 144,660 shares of the basic materials company’s stock worth $11,381,000 after acquiring an additional 11,524 shares during the last quarter. Institutional investors own 94.29% of the company’s stock.

NYSE MTX opened at $73.79 on Friday. The firm has a market cap of $2.46 billion, a PE ratio of 16.29 and a beta of 1.43. Minerals Technologies Inc. has a one year low of $61.59 and a one year high of $88.62. The stock’s 50 day simple moving average is $72.18 and its 200 day simple moving average is $74.52. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.43 and a quick ratio of 1.77.

Minerals Technologies (NYSE:MTX) last released its quarterly earnings results on Thursday, November 4th. The basic materials company reported $1.30 EPS for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.06. Minerals Technologies had a return on equity of 10.83% and a net margin of 8.51%. The business had revenue of $473.20 million for the quarter, compared to analyst estimates of $473.24 million. During the same period in the prior year, the company earned $0.92 EPS. Minerals Technologies’s revenue for the quarter was up 21.9% on a year-over-year basis. As a group, equities analysts expect that Minerals Technologies Inc. will post 4.95 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 9th. Shareholders of record on Wednesday, November 3rd were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.27%. The ex-dividend date of this dividend was Tuesday, November 2nd. Minerals Technologies’s dividend payout ratio is 4.42%.

Separately, Zacks Investment Research lowered Minerals Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday.

In other Minerals Technologies news, SVP Thomas J. Meek sold 16,814 shares of the company’s stock in a transaction on Wednesday, December 15th. The stock was sold at an average price of $71.05, for a total transaction of $1,194,634.70. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Dj Monagle III sold 8,600 shares of the company’s stock in a transaction on Wednesday, November 17th. The stock was sold at an average price of $74.29, for a total value of $638,894.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,754 shares of company stock worth $2,510,492. Company insiders own 3.20% of the company’s stock.

Minerals Technologies Profile

Minerals Technologies, Inc is a resource and technology-based company. It develops, produces, and markets a range of mineral, mineral-based, and synthetic mineral products. It operates through the following four segments: Performance Materials, Specialty Minerals, Refractories and Energy Services. The Performance Materials segment supplies bentonite and bentonite-related products, chromite and leonardite.

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Institutional Ownership by Quarter for Minerals Technologies (NYSE:MTX)

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