Minerals Technologies Inc. (NYSE:MTX) Shares Sold by Jane Street Group LLC

Jane Street Group LLC cut its stake in shares of Minerals Technologies Inc. (NYSE:MTX) by 8.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 24,552 shares of the basic materials company’s stock after selling 2,182 shares during the quarter. Jane Street Group LLC owned about 0.08% of Minerals Technologies worth $1,871,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. AQR Capital Management LLC grew its stake in Minerals Technologies by 5.3% in the 4th quarter. AQR Capital Management LLC now owns 99,468 shares of the basic materials company’s stock valued at $7,580,000 after acquiring an additional 5,051 shares during the last quarter. Lido Advisors LLC grew its stake in Minerals Technologies by 39.2% in the 4th quarter. Lido Advisors LLC now owns 3,660 shares of the basic materials company’s stock valued at $279,000 after acquiring an additional 1,030 shares during the last quarter. Northern Trust Corp grew its stake in Minerals Technologies by 9.6% in the 4th quarter. Northern Trust Corp now owns 498,929 shares of the basic materials company’s stock valued at $38,023,000 after acquiring an additional 43,546 shares during the last quarter. Quarry LP grew its stake in Minerals Technologies by 536.5% in the 4th quarter. Quarry LP now owns 732 shares of the basic materials company’s stock valued at $56,000 after acquiring an additional 617 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Minerals Technologies in the 4th quarter valued at about $683,000. 97.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MTX has been the topic of a number of research reports. StockNews.com cut shares of Minerals Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, April 9th. Truist Financial reduced their target price on shares of Minerals Technologies from $92.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, April 28th.

Insider Transactions at Minerals Technologies

In related news, CFO Erik Aldag acquired 1,000 shares of the business’s stock in a transaction dated Wednesday, April 30th. The shares were acquired at an average cost of $50.37 per share, for a total transaction of $50,370.00. Following the acquisition, the chief financial officer now directly owns 4,245 shares in the company, valued at approximately $213,820.65. The trade was a 30.82% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 3.50% of the company’s stock.

Minerals Technologies Price Performance

NYSE:MTX opened at $59.43 on Friday. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of 11.47 and a beta of 1.22. The company has a current ratio of 2.84, a quick ratio of 1.98 and a debt-to-equity ratio of 0.54. The company’s 50-day moving average is $58.89 and its two-hundred day moving average is $70.15. Minerals Technologies Inc. has a 12-month low of $49.54 and a 12-month high of $90.30.

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

Minerals Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 30th will be issued a $0.11 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.44 dividend on an annualized basis and a yield of 0.74%. Minerals Technologies’s dividend payout ratio (DPR) is -57.14%.

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.