Blue Trust Inc. Raises Stock Position in Minerals Technologies Inc. (NYSE:MTX)

Blue Trust Inc. lifted its holdings in Minerals Technologies Inc. (NYSE:MTX) by 21.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,009 shares of the basic materials company’s stock after buying an additional 178 shares during the period. Blue Trust Inc.’s holdings in Minerals Technologies were worth $78,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in MTX. SG Americas Securities LLC bought a new stake in Minerals Technologies during the fourth quarter worth approximately $145,000. Diversified Trust Co boosted its holdings in shares of Minerals Technologies by 7.7% in the 4th quarter. Diversified Trust Co now owns 11,774 shares of the basic materials company’s stock worth $897,000 after purchasing an additional 841 shares during the period. JPMorgan Chase & Co. increased its position in shares of Minerals Technologies by 9.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 115,887 shares of the basic materials company’s stock valued at $8,950,000 after purchasing an additional 10,284 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Minerals Technologies by 2.0% during the 3rd quarter. Principal Financial Group Inc. now owns 162,291 shares of the basic materials company’s stock valued at $12,534,000 after buying an additional 3,230 shares during the period. Finally, Franklin Resources Inc. lifted its position in Minerals Technologies by 21.1% in the third quarter. Franklin Resources Inc. now owns 47,847 shares of the basic materials company’s stock worth $3,728,000 after buying an additional 8,335 shares during the last quarter. 97.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. StockNews.com upgraded shares of Minerals Technologies from a “hold” rating to a “buy” rating in a research report on Thursday. Truist Financial initiated coverage on shares of Minerals Technologies in a report on Tuesday, January 28th. They set a “buy” rating and a $103.00 price target on the stock.

Minerals Technologies Trading Down 3.0 %

Shares of NYSE MTX opened at $73.92 on Friday. Minerals Technologies Inc. has a fifty-two week low of $67.92 and a fifty-two week high of $90.29. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.72 and a current ratio of 2.46. The company has a market cap of $2.36 billion, a price-to-earnings ratio of 15.66 and a beta of 1.30. The business’s 50 day moving average price is $76.95 and its 200-day moving average price is $76.87.

Minerals Technologies (NYSE:MTX) last released its earnings results on Thursday, February 6th. The basic materials company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.11. Minerals Technologies had a return on equity of 11.27% and a net margin of 7.20%. On average, sell-side analysts expect that Minerals Technologies Inc. will post 6.05 earnings per share for the current year.

Minerals Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be given a $0.11 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.44 annualized dividend and a yield of 0.60%. Minerals Technologies’s dividend payout ratio (DPR) is 8.49%.

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.