Dupont Capital Management Corp Decreases Stake in Minerals Technologies Inc. (NYSE:MTX)

Dupont Capital Management Corp lowered its position in shares of Minerals Technologies Inc. (NYSE:MTXGet Rating) by 76.8% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 4,028 shares of the basic materials company’s stock after selling 13,334 shares during the quarter. Dupont Capital Management Corp’s holdings in Minerals Technologies were worth $199,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of MTX. Wipfli Financial Advisors LLC purchased a new stake in shares of Minerals Technologies during the 3rd quarter worth about $25,000. Ellevest Inc. grew its holdings in shares of Minerals Technologies by 74.9% during the 2nd quarter. Ellevest Inc. now owns 488 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 209 shares during the period. Pinebridge Investments L.P. grew its holdings in shares of Minerals Technologies by 389.0% during the 2nd quarter. Pinebridge Investments L.P. now owns 489 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 389 shares during the period. Lazard Asset Management LLC purchased a new position in Minerals Technologies in the 2nd quarter worth approximately $37,000. Finally, Washington Trust Advisors Inc. purchased a new position in Minerals Technologies in the 2nd quarter worth approximately $49,000. Hedge funds and other institutional investors own 96.57% of the company’s stock.

Insider Activity at Minerals Technologies

In related news, SVP Thomas J. Meek sold 16,795 shares of the company’s stock in a transaction that occurred on Friday, December 2nd. The stock was sold at an average price of $62.52, for a total transaction of $1,050,023.40. Following 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 accessible through this hyperlink. In related news, SVP Brett Argirakis sold 927 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 15,694 shares of the company’s stock, valued at approximately $942,110.82. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Thomas J. Meek sold 16,795 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 83,852 shares in the company, valued at $5,242,427.04. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company’s stock.

Minerals Technologies Stock Performance

Minerals Technologies stock opened at $66.92 on Tuesday. The stock has a market cap of $2.17 billion, a P/E ratio of 15.46 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. The stock has a 50 day moving average of $59.91 and a 200-day moving average of $59.17. Minerals Technologies Inc. has a 52 week low of $49.38 and a 52 week high of $73.83.

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

Minerals Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 8th. Stockholders of record on Wednesday, November 2nd were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.30%. The ex-dividend date of this dividend was Tuesday, November 1st. Minerals Technologies’s dividend payout ratio (DPR) is currently 4.62%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MTX. Seaport Res Ptn cut Minerals Technologies from a “buy” rating to a “neutral” rating in a report on Thursday, October 13th. StockNews.com began coverage on Minerals Technologies in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, TheStreet cut Minerals Technologies from a “b-” rating to a “c+” rating in a report on Monday, October 10th. Three research 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 stock presently has a consensus rating of “Hold” and an average price target of $81.00.

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.

Further Reading

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

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