State of Alaska Department of Revenue Grows Position in Minerals Technologies Inc. (NYSE:MTX)

State of Alaska Department of Revenue boosted its stake in shares of Minerals Technologies Inc. (NYSE:MTXGet Rating) by 374.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 22,579 shares of the basic materials company’s stock after buying an additional 17,823 shares during the quarter. State of Alaska Department of Revenue’s holdings in Minerals Technologies were worth $1,115,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of MTX. PNC Financial Services Group Inc. lifted its position in Minerals Technologies by 114.3% during the first quarter. PNC Financial Services Group Inc. now owns 10,205 shares of the basic materials company’s stock valued at $675,000 after purchasing an additional 5,442 shares in the last quarter. MetLife Investment Management LLC lifted its position in shares of Minerals Technologies by 40.2% in the first quarter. MetLife Investment Management LLC now owns 38,222 shares of the basic materials company’s stock valued at $2,528,000 after acquiring an additional 10,965 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Minerals Technologies by 10.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,202 shares of the basic materials company’s stock valued at $807,000 after acquiring an additional 1,164 shares in the last quarter. Great West Life Assurance Co. Can lifted its position in shares of Minerals Technologies by 8.3% in the first quarter. Great West Life Assurance Co. Can now owns 17,655 shares of the basic materials company’s stock valued at $1,200,000 after acquiring an additional 1,348 shares in the last quarter. Finally, Yousif Capital Management LLC lifted its position in shares of Minerals Technologies by 1.7% in the first quarter. Yousif Capital Management LLC now owns 17,936 shares of the basic materials company’s stock valued at $1,186,000 after acquiring an additional 295 shares in the last quarter. 96.57% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Minerals Technologies

In other news, SVP Thomas J. Meek sold 16,795 shares of Minerals Technologies stock in a transaction on Friday, December 2nd. The shares were sold at an average price of $62.52, for a total transaction of $1,050,023.40. Following the completion of the sale, the senior vice president now directly owns 83,852 shares of the company’s stock, valued at approximately $5,242,427.04. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Minerals Technologies news, SVP Thomas J. Meek sold 16,795 shares of Minerals Technologies stock in a transaction on Friday, December 2nd. The shares were sold at an average price of $62.52, for a total value of $1,050,023.40. Following the transaction, the senior vice president now directly owns 83,852 shares in the company, valued at $5,242,427.04. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Brett Argirakis sold 927 shares of the business’s stock in a transaction dated Tuesday, December 20th. The stock was sold at an average price of $60.03, for a total transaction of $55,647.81. Following the sale, the senior vice president now directly owns 15,694 shares in the company, valued at approximately $942,110.82. The disclosure for this sale can be found here. 3.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Seaport Res Ptn downgraded Minerals Technologies from a “buy” rating to a “neutral” rating in a research report on Thursday, October 13th. TheStreet downgraded Minerals Technologies from a “b-” rating to a “c+” rating in a research report on Monday, October 10th. Finally, StockNews.com assumed coverage on Minerals Technologies in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $81.00.

Minerals Technologies Trading Up 3.5 %

Shares of MTX stock opened at $63.98 on Friday. The stock’s 50-day moving average price is $58.44 and its 200-day moving average price is $58.95. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 14.78 and a beta of 1.28. The company has a current ratio of 2.18, a quick ratio of 1.48 and a debt-to-equity ratio of 0.62. Minerals Technologies Inc. has a 12-month low of $49.38 and a 12-month high of $74.82.

Minerals Technologies (NYSE:MTXGet Rating) last posted its earnings results on Thursday, October 27th. The basic materials company reported $1.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.03). The firm had revenue of $541.90 million for the quarter, compared to analysts’ expectations of $531.20 million. Minerals Technologies had a return on equity of 11.46% and a net margin of 6.85%. Equities research analysts predict that Minerals Technologies Inc. will post 5.41 EPS for the current fiscal year.

Minerals Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 8th. Investors of record on Wednesday, November 2nd were issued a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, November 1st. This represents a $0.20 annualized dividend and a yield of 0.31%. Minerals Technologies’s dividend payout ratio (DPR) is presently 4.62%.

Minerals Technologies Profile

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Minerals Technologies Inc develops, produces, and markets various specialty mineral, mineral-based, and synthetic mineral products, and supporting systems and services. The company operates through three segments: Performance Materials, Specialty Minerals and Refractories. The Performance Materials segment supplies bentonite and bentonite-related products, as well as leonardite.

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

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