Sterling Capital Management LLC Boosts Stake in Minerals Technologies Inc. (NYSE:MTX)

Sterling Capital Management LLC lifted its holdings in shares of Minerals Technologies Inc. (NYSE:MTX) by 32.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,589 shares of the basic materials company’s stock after purchasing an additional 888 shares during the quarter. Sterling Capital Management LLC’s holdings in Minerals Technologies were worth $274,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Smartleaf Asset Management LLC boosted its stake in Minerals Technologies by 181.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 506 shares of the basic materials company’s stock worth $38,000 after buying an additional 326 shares during the period. Blue Trust Inc. increased its holdings in Minerals Technologies by 21.4% in the 4th quarter. Blue Trust Inc. now owns 1,009 shares of the basic materials company’s stock valued at $78,000 after purchasing an additional 178 shares during the last quarter. Venturi Wealth Management LLC purchased a new stake in Minerals Technologies in the fourth quarter valued at approximately $78,000. KBC Group NV lifted its stake in Minerals Technologies by 43.9% during the fourth quarter. KBC Group NV now owns 1,478 shares of the basic materials company’s stock worth $113,000 after purchasing an additional 451 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Minerals Technologies during the fourth quarter worth $145,000. 97.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MTX. StockNews.com cut shares of Minerals Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, April 9th. Truist Financial reduced their price target on Minerals Technologies from $101.00 to $92.00 and set a “buy” rating on the stock in a research report on Monday, April 14th.

Minerals Technologies Trading Up 0.9 %

Shares of NYSE:MTX opened at $56.73 on Monday. The company has a market cap of $1.81 billion, a PE ratio of 10.95 and a beta of 1.25. The company’s 50 day moving average is $64.68 and its two-hundred day moving average is $73.17. Minerals Technologies Inc. has a 52 week low of $52.40 and a 52 week high of $90.30. The company has a current ratio of 2.84, a quick ratio of 1.98 and a debt-to-equity ratio of 0.54.

Minerals Technologies (NYSE:MTX) last posted its quarterly earnings results on Thursday, February 6th. The basic materials company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.11. Minerals Technologies had a return on equity of 11.49% and a net margin of 7.89%. Equities analysts predict that Minerals Technologies Inc. will post 6.62 earnings per share for the current fiscal year.

Minerals Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 14th were paid a $0.11 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.44 annualized dividend and a yield of 0.78%. Minerals Technologies’s dividend payout ratio is currently 8.49%.

Minerals Technologies Company 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.