Louisiana State Employees Retirement System Takes Position in Minerals Technologies Inc. (NYSE:MTX)

Louisiana State Employees Retirement System bought a new stake in shares of Minerals Technologies Inc. (NYSE:MTX) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 16,300 shares of the basic materials company’s stock, valued at approximately $1,162,000. Louisiana State Employees Retirement System owned 0.05% of Minerals Technologies as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of MTX. Skandinaviska Enskilda Banken AB publ bought a new position in Minerals Technologies in the 3rd quarter worth approximately $44,000. Acadian Asset Management LLC bought a new position in Minerals Technologies in the 3rd quarter worth approximately $58,000. International Assets Investment Management LLC boosted its holdings in Minerals Technologies by 1,266.0% in the 4th quarter. International Assets Investment Management LLC now owns 1,284 shares of the basic materials company’s stock worth $92,000 after buying an additional 1,190 shares during the period. SG Americas Securities LLC bought a new position in Minerals Technologies in the 4th quarter worth approximately $158,000. Finally, Washington Trust Advisors Inc. boosted its holdings in Minerals Technologies by 825.0% in the 3rd quarter. Washington Trust Advisors Inc. now owns 3,700 shares of the basic materials company’s stock worth $203,000 after buying an additional 3,300 shares during the period. 97.29% of the stock is owned by institutional investors.

Minerals Technologies Stock Performance

NYSE MTX opened at $72.21 on Wednesday. The company’s 50 day simple moving average is $72.76 and its two-hundred day simple moving average is $66.25. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.40 and a quick ratio of 1.69. The stock has a market capitalization of $2.33 billion, a PE ratio of 27.88 and a beta of 1.33. Minerals Technologies Inc. has a 1 year low of $48.61 and a 1 year high of $76.80.

Minerals Technologies (NYSE:MTX) last posted its quarterly earnings data on Friday, February 2nd. The basic materials company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.03. The firm had revenue of $524.50 million for the quarter, compared to analysts’ expectations of $506.67 million. Minerals Technologies had a net margin of 3.88% and a return on equity of 10.26%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the company posted $0.67 EPS. Analysts predict that Minerals Technologies Inc. will post 5.9 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Jonathan J. Hastings sold 12,922 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $71.48, for a total transaction of $923,664.56. Following the sale, the senior vice president now owns 53,862 shares in the company, valued at approximately $3,850,055.76. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Dj Monagle III sold 1,180 shares of the stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $74.12, for a total transaction of $87,461.60. Following the transaction, the insider now owns 81,031 shares of the company’s stock, valued at approximately $6,006,017.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Jonathan J. Hastings sold 12,922 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $71.48, for a total transaction of $923,664.56. Following the transaction, the senior vice president now directly owns 53,862 shares in the company, valued at approximately $3,850,055.76. The disclosure for this sale can be found here. Corporate insiders own 3.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on MTX. TheStreet raised shares of Minerals Technologies from a “c+” rating to a “b” rating in a report on Friday, February 2nd. StockNews.com upgraded shares of Minerals Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, February 8th. Finally, Seaport Res Ptn upgraded shares of Minerals Technologies from a “neutral” rating to a “buy” rating in a research note on Monday, February 5th. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $68.50.

Minerals Technologies Profile

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.