Envestnet Asset Management Inc. Has $1.38 Million Stake in Minerals Technologies Inc. (NYSE:MTX)

Envestnet Asset Management Inc. raised its stake in Minerals Technologies Inc. (NYSE:MTX) by 5.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,125 shares of the basic materials company’s stock after buying an additional 973 shares during the period. Envestnet Asset Management Inc. owned 0.06% of Minerals Technologies worth $1,381,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Barclays PLC grew its stake in shares of Minerals Technologies by 210.1% in the 3rd quarter. Barclays PLC now owns 111,526 shares of the basic materials company’s stock valued at $8,615,000 after buying an additional 75,565 shares during the period. Tidal Investments LLC boosted its holdings in shares of Minerals Technologies by 14.6% in the third quarter. Tidal Investments LLC now owns 7,454 shares of the basic materials company’s stock worth $576,000 after acquiring an additional 948 shares during the period. Franklin Resources Inc. lifted its stake in Minerals Technologies by 21.1% in the 3rd quarter. Franklin Resources Inc. now owns 47,847 shares of the basic materials company’s stock worth $3,728,000 after purchasing an additional 8,335 shares in the last quarter. Principal Financial Group Inc. raised its stake in Minerals Technologies by 2.0% in the third quarter. Principal Financial Group Inc. now owns 162,291 shares of the basic materials company’s stock valued at $12,534,000 after purchasing an additional 3,230 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Minerals Technologies by 9.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 115,887 shares of the basic materials company’s stock worth $8,950,000 after purchasing an additional 10,284 shares in the last quarter. Institutional investors own 97.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. StockNews.com lowered Minerals Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, April 9th. Truist Financial lowered their price target on Minerals Technologies from $92.00 to $80.00 and set a “buy” rating on the stock in a report on Monday.

Minerals Technologies Price Performance

NYSE:MTX opened at $50.99 on Wednesday. The stock has a market cap of $1.62 billion, a PE ratio of 9.84 and a beta of 1.25. The company has a quick ratio of 1.98, a current ratio of 2.84 and a debt-to-equity ratio of 0.54. Minerals Technologies Inc. has a 52 week low of $50.45 and a 52 week high of $90.30. The business’s 50-day simple moving average is $62.28 and its two-hundred day simple moving average is $72.17.

Minerals Technologies (NYSE:MTX) last issued its quarterly earnings data on Thursday, April 24th. The basic materials company reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.02). Minerals Technologies had a return on equity of 11.49% and a net margin of 7.89%. The business had revenue of $491.80 million during the quarter, compared to analysts’ expectations of $502.03 million. During the same period in the previous year, the business earned $1.49 earnings per share. The business’s quarterly revenue was down 8.0% on a year-over-year basis. As a group, analysts forecast that Minerals Technologies Inc. will post 6.62 EPS for the current fiscal year.

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.