Brandes Investment Partners LP Has $49.97 Million Stock Position in Minerals Technologies Inc. $MTX

Brandes Investment Partners LP lifted its position in shares of Minerals Technologies Inc. (NYSE:MTX) by 22.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 819,908 shares of the basic materials company’s stock after acquiring an additional 152,950 shares during the period. Brandes Investment Partners LP’s holdings in Minerals Technologies were worth $49,973,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of MTX. Royal Bank of Canada lifted its holdings in shares of Minerals Technologies by 28.4% during the first quarter. Royal Bank of Canada now owns 19,629 shares of the basic materials company’s stock worth $1,249,000 after buying an additional 4,337 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Minerals Technologies by 9.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 110,044 shares of the basic materials company’s stock worth $6,995,000 after buying an additional 9,363 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of Minerals Technologies by 177.6% during the first quarter. Jane Street Group LLC now owns 68,156 shares of the basic materials company’s stock worth $4,333,000 after buying an additional 43,604 shares in the last quarter. Intech Investment Management LLC lifted its holdings in shares of Minerals Technologies by 30.5% during the first quarter. Intech Investment Management LLC now owns 18,504 shares of the basic materials company’s stock worth $1,176,000 after buying an additional 4,322 shares in the last quarter. Finally, Strs Ohio acquired a new stake in shares of Minerals Technologies during the first quarter worth $70,000. Institutional investors and hedge funds own 97.29% of the company’s stock.

Insider Transactions at Minerals Technologies

In other Minerals Technologies news, VP Timothy Jordan sold 6,000 shares of Minerals Technologies stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $80.27, for a total value of $481,620.00. Following the transaction, the vice president owned 1,279 shares in the company, valued at $102,665.33. The trade was a 82.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.70% of the stock is currently owned by corporate insiders.

Minerals Technologies Stock Performance

Minerals Technologies stock opened at $76.48 on Wednesday. Minerals Technologies Inc. has a 12-month low of $53.10 and a 12-month high of $84.34. The company has a quick ratio of 1.47, a current ratio of 2.13 and a debt-to-equity ratio of 0.54. The business’s 50-day moving average price is $74.60 and its two-hundred day moving average price is $68.95. The stock has a market cap of $2.37 billion, a PE ratio of 14.79 and a beta of 1.13.

Minerals Technologies (NYSE:MTX) last released its earnings results on Thursday, April 30th. The basic materials company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.12. Minerals Technologies had a return on equity of 10.40% and a net margin of 7.60%.The firm had revenue of $546.90 million for the quarter, compared to analysts’ expectations of $516.39 million. During the same quarter in the previous year, the business posted $1.14 earnings per share. The business’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, analysts expect that Minerals Technologies Inc. will post 6.33 earnings per share for the current fiscal year.

Minerals Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Tuesday, June 2nd will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Tuesday, June 2nd. Minerals Technologies’s payout ratio is currently 9.28%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Wall Street Zen raised Minerals Technologies from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 2nd. Seaport Research Partners reissued a “buy” rating on shares of Minerals Technologies in a report on Monday, May 4th. Truist Financial lifted their target price on Minerals Technologies from $89.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Finally, Weiss Ratings raised Minerals Technologies from a “sell (d+)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $90.00.

About Minerals Technologies

Minerals Technologies Inc develops, produces and processes a broad range of mineral-based products and solutions that serve a variety of industrial applications. Its offerings include bentonite, perlite, precipitated calcium carbonate (PCC), mineral sands, foundry additives, performance minerals and specialty chemicals designed to enhance performance in markets such as paper, steel, construction, oil and gas, environmental remediation and consumer products.

The company operates through several business segments, including Specialty Minerals, Refractory Minerals, Performance Materials and Recycled Materials.