Minerals Technologies Inc. (NYSE:MTX) Stake Reduced by FourThought Financial LLC

FourThought Financial LLC reduced its stake in shares of Minerals Technologies Inc. (NYSE:MTX – Get Rating) by 52.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 1,423 shares of the basic materials company’s stock after selling 1,599 shares during the period. FourThought Financial LLC’s holdings in Minerals Technologies were worth $70,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in MTX. BlackRock Inc. grew its stake in Minerals Technologies by 40.1% during the 3rd quarter. BlackRock Inc. now owns 5,188,420 shares of the basic materials company’s stock worth $256,360,000 after buying an additional 1,483,760 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Minerals Technologies by 10.5% in the third quarter. Vanguard Group Inc. now owns 3,585,400 shares of the basic materials company’s stock worth $177,155,000 after purchasing an additional 341,092 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Minerals Technologies by 19.1% in the second quarter. Franklin Resources Inc. now owns 2,045,335 shares of the basic materials company’s stock worth $125,460,000 after purchasing an additional 327,918 shares in the last quarter. Eaton Vance Management grew its stake in shares of Minerals Technologies by 21.2% in the first quarter. Eaton Vance Management now owns 994,955 shares of the basic materials company’s stock worth $65,816,000 after purchasing an additional 174,127 shares in the last quarter. Finally, Millennium Management LLC grew its stake in shares of Minerals Technologies by 324.6% in the second quarter. Millennium Management LLC now owns 189,173 shares of the basic materials company’s stock worth $11,604,000 after purchasing an additional 144,616 shares in the last quarter. 96.57% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MTX has been the subject of several recent analyst reports. Sidoti cut Minerals Technologies from a “buy” rating to a “neutral” rating and set a $70.00 price target for the company. in a research note on Friday, February 3rd. StockNews.com initiated coverage on Minerals Technologies in a report on Thursday. They issued a “hold” rating for the company. Four analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $70.00.

Minerals Technologies Trading Down 2.8 %

Shares of Minerals Technologies stock opened at $55.85 on Friday. The company has a quick ratio of 1.44, a current ratio of 2.13 and a debt-to-equity ratio of 0.58. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of 15.01 and a beta of 1.30. The business has a fifty day simple moving average of $63.31 and a 200-day simple moving average of $59.10. Minerals Technologies Inc. has a fifty-two week low of $49.38 and a fifty-two week high of $73.57.

Minerals Technologies (NYSE:MTX – Get Rating) last announced its quarterly earnings data on Friday, February 3rd. The basic materials company reported $0.67 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.52). The firm had revenue of $507.60 million during the quarter, compared to analyst estimates of $516.83 million. Minerals Technologies had a net margin of 5.76% and a return on equity of 10.13%. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.25 EPS. On average, equities analysts forecast that Minerals Technologies Inc. will post 5.23 EPS for the current fiscal year.

Minerals Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 9th. Stockholders of record on Thursday, February 16th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.36%. The ex-dividend date was Wednesday, February 15th. Minerals Technologies’s dividend payout ratio is 5.38%.

Insider Activity

In other news, SVP Brett Argirakis sold 927 shares of the company’s stock in a transaction on Tuesday, December 20th. The stock was sold at an average price of $60.03, for a total transaction of $55,647.81. Following the completion of the sale, the senior vice president now directly owns 15,694 shares of the company’s stock, valued at $942,110.82. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, SVP Brett Argirakis sold 927 shares of the company’s stock in a transaction on Tuesday, December 20th. The stock was sold at an average price of $60.03, for a total transaction of $55,647.81. Following the completion of the sale, the senior vice president now directly owns 15,694 shares of the company’s stock, valued at $942,110.82. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Rocky Motwani bought 822 shares of Minerals Technologies stock in a transaction dated Monday, March 6th. The shares were bought at an average cost of $60.82 per share, with a total value of $49,994.04. Following the completion of the acquisition, the director now owns 822 shares of the company’s stock, valued at $49,994.04. The disclosure for this purchase can be found here. 3.20% of the stock is currently owned by company insiders.

Minerals Technologies Company Profile

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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.