Summit Global Investments Sells 4,963 Shares of Minerals Technologies Inc. (NYSE:MTX)

Summit Global Investments cut its holdings in Minerals Technologies Inc. (NYSE:MTX) by 43.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,473 shares of the basic materials company’s stock after selling 4,963 shares during the quarter. Summit Global Investments’ holdings in Minerals Technologies were worth $493,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of MTX. Intech Investment Management LLC purchased a new position in shares of Minerals Technologies in the 3rd quarter worth $441,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Minerals Technologies by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 552,510 shares of the basic materials company’s stock valued at $42,670,000 after acquiring an additional 7,593 shares during the last quarter. Algert Global LLC grew its position in Minerals Technologies by 8.7% in the third quarter. Algert Global LLC now owns 44,512 shares of the basic materials company’s stock worth $3,438,000 after acquiring an additional 3,556 shares in the last quarter. FMR LLC increased its stake in Minerals Technologies by 64.2% during the third quarter. FMR LLC now owns 1,234,719 shares of the basic materials company’s stock worth $95,357,000 after acquiring an additional 482,674 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in Minerals Technologies during the third quarter valued at approximately $656,000. Institutional investors own 97.29% of the company’s stock.

Minerals Technologies Stock Performance

Minerals Technologies stock opened at $66.20 on Tuesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.84 and a quick ratio of 1.98. The firm has a market capitalization of $2.11 billion, a P/E ratio of 12.78 and a beta of 1.28. Minerals Technologies Inc. has a 1-year low of $64.30 and a 1-year high of $90.30. The company’s 50-day moving average is $71.78 and its 200 day moving average is $75.34.

Minerals Technologies (NYSE:MTX) last issued its quarterly earnings results on Thursday, February 6th. The basic materials company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.11. Minerals Technologies had a return on equity of 11.49% and a net margin of 7.89%. Research analysts forecast that Minerals Technologies Inc. will post 6.62 EPS for the current year.

Minerals Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 14th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.44 annualized dividend and a dividend yield of 0.66%. Minerals Technologies’s dividend payout ratio (DPR) is 8.49%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MTX. StockNews.com cut Minerals Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, March 19th. Truist Financial dropped their price objective on shares of Minerals Technologies from $103.00 to $101.00 and set a “buy” rating for the company in a research note on Monday, February 10th.

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.