Deutsche Bank AG Decreases Stock Position in Minerals Technologies Inc. (NYSE:MTX)

Deutsche Bank AG cut its holdings in Minerals Technologies Inc. (NYSE:MTX) by 46.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,475 shares of the basic materials company’s stock after selling 24,545 shares during the quarter. Deutsche Bank AG owned 0.09% of Minerals Technologies worth $2,170,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MTX. Barclays PLC raised its stake in shares of Minerals Technologies by 210.1% in the third quarter. Barclays PLC now owns 111,526 shares of the basic materials company’s stock worth $8,615,000 after purchasing an additional 75,565 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Minerals Technologies during the 4th quarter valued at about $145,000. Blue Trust Inc. grew its stake in shares of Minerals Technologies by 21.4% in the fourth quarter. Blue Trust Inc. now owns 1,009 shares of the basic materials company’s stock worth $78,000 after acquiring an additional 178 shares during the period. KBC Group NV lifted its position 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 valued at $113,000 after purchasing an additional 451 shares during the period. Finally, Guidance Capital Inc. purchased a new stake in Minerals Technologies in the fourth quarter worth approximately $462,000. 97.29% of the stock is currently owned by hedge funds and other institutional investors.

Minerals Technologies Price Performance

NYSE MTX opened at $58.82 on Friday. The business’s fifty day moving average is $58.21 and its 200 day moving average is $69.73. Minerals Technologies Inc. has a fifty-two week low of $49.54 and a fifty-two week high of $90.30. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.98 and a current ratio of 2.84. The company has a market capitalization of $1.87 billion, a PE ratio of 11.35 and a beta of 1.22.

Minerals Technologies (NYSE:MTX) last issued its quarterly earnings results 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 company had revenue of $491.80 million during the quarter, compared to analysts’ expectations of $502.03 million. During the same quarter in the previous year, the company earned $1.49 EPS. The business’s quarterly revenue was down 8.0% compared to the same quarter last year. Sell-side analysts predict that Minerals Technologies Inc. will post 6.62 earnings per share for the current year.

Minerals Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 30th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.75%. The ex-dividend date is Friday, May 30th. Minerals Technologies’s dividend payout ratio is -57.14%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Truist Financial cut their price objective on Minerals Technologies from $92.00 to $80.00 and set a “buy” rating for the company in a report on Monday, April 28th. Wall Street Zen cut shares of Minerals Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, April 9th.

Insiders Place Their Bets

In other news, Director Kristina M. Johnson bought 1,000 shares of the company’s stock in a transaction that occurred on Friday, May 2nd. The stock was bought at an average price of $53.79 per share, with a total value of $53,790.00. Following the acquisition, the director now owns 1,400 shares of the company’s stock, valued at approximately $75,306. This represents a 250.00% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.30% of the stock is owned by company insiders.

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.