Russell Investments Group Ltd. boosted its stake in shares of Minerals Technologies Inc. (NYSE:MTX – Get Rating) by 2.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,695 shares of the basic materials company’s stock after acquiring an additional 391 shares during the period. Russell Investments Group Ltd. owned 0.06% of Minerals Technologies worth $1,135,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Arizona State Retirement System raised its holdings in shares of Minerals Technologies by 2.7% during the 4th quarter. Arizona State Retirement System now owns 9,197 shares of the basic materials company’s stock worth $558,000 after buying an additional 239 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its stake in Minerals Technologies by 1.3% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 20,953 shares of the basic materials company’s stock valued at $1,272,000 after buying an additional 260 shares during the period. FourThought Financial Partners LLC bought a new position in Minerals Technologies during the fourth quarter worth $205,000. Cable Hill Partners LLC bought a new position in shares of Minerals Technologies during the 4th quarter worth about $203,000. Finally, Ellevest Inc. grew its stake in Minerals Technologies by 308.9% in the fourth quarter. Ellevest Inc. now owns 691 shares of the basic materials company’s stock valued at $42,000 after acquiring an additional 522 shares during the period. Institutional investors own 96.57% of the company’s stock.
Insider Transactions at Minerals Technologies
In other news, Director Rocky Motwani purchased 822 shares of Minerals Technologies stock in a transaction that occurred on 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 purchase, the director now directly owns 822 shares in the company, valued at $49,994.04. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.86% of the company’s stock.
Analysts Set New Price Targets
Minerals Technologies Price Performance
Shares of NYSE MTX opened at $58.54 on Thursday. Minerals Technologies Inc. has a twelve month low of $49.38 and a twelve month high of $73.57. The company has a quick ratio of 1.45, a current ratio of 2.17 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $1.91 billion, a P/E ratio of 16.58 and a beta of 1.30. The stock’s 50-day simple moving average is $58.89 and its two-hundred day simple moving average is $60.49.
Minerals Technologies (NYSE:MTX – Get Rating) last released its earnings results on Thursday, April 27th. The basic materials company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.05 by $0.09. Minerals Technologies had a net margin of 5.36% and a return on equity of 9.53%. The company had revenue of $546.00 million for the quarter, compared to analyst estimates of $527.73 million. During the same quarter last year, the firm earned $1.36 EPS. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, equities analysts anticipate that Minerals Technologies Inc. will post 5.2 EPS for the current fiscal year.
Minerals Technologies Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, June 1st will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend is Wednesday, May 31st. Minerals Technologies’s payout ratio is 5.67%.
Minerals Technologies Company Profile
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.
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