Yousif Capital Management LLC Decreases Stake in Minerals Technologies Inc. (NYSE:MTX)

Yousif Capital Management LLC decreased its position in Minerals Technologies Inc. (NYSE:MTX) by 2.7% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 11,758 shares of the basic materials company’s stock after selling 332 shares during the period. Yousif Capital Management LLC’s holdings in Minerals Technologies were worth $747,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC raised its position in shares of Minerals Technologies by 181.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 506 shares of the basic materials company’s stock valued at $38,000 after buying an additional 326 shares during the last quarter. Quarry LP raised its stake in shares of Minerals Technologies by 536.5% during the fourth quarter. Quarry LP now owns 732 shares of the basic materials company’s stock valued at $56,000 after purchasing an additional 617 shares during the period. Venturi Wealth Management LLC acquired a new position in Minerals Technologies in the 4th quarter worth $78,000. Vestcor Inc acquired a new stake in Minerals Technologies during the 4th quarter valued at approximately $185,000. Finally, Inspire Advisors LLC bought a new stake in shares of Minerals Technologies in the fourth quarter worth $207,000. Institutional investors and hedge funds own 97.29% of the company’s stock.

Insider Activity

In related news, CFO Erik Aldag purchased 1,000 shares of the stock in a transaction on Wednesday, April 30th. The shares were bought at an average price of $50.37 per share, for a total transaction of $50,370.00. Following the completion of the acquisition, the chief financial officer now directly owns 4,245 shares in the company, valued at approximately $213,820.65. This trade represents a 30.82% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders bought a total of 2,370 shares of company stock worth $124,255 in the last three months. 3.30% of the stock is owned by insiders.

Minerals Technologies Stock Down 0.4%

NYSE MTX opened at $53.77 on Friday. The company has a market capitalization of $1.71 billion, a P/E ratio of -69.83 and a beta of 1.22. Minerals Technologies Inc. has a 12 month low of $49.54 and a 12 month high of $90.30. The company’s 50 day simple moving average is $56.39 and its 200 day simple moving average is $66.32. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.89 and a quick ratio of 1.31.

Minerals Technologies (NYSE:MTX) last released its earnings results on Thursday, April 24th. The basic materials company reported $1.14 earnings per share for the quarter, missing the consensus estimate 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 positive return on equity of 10.90% and a negative net margin of 1.14%. The business’s revenue was down 8.0% on a year-over-year basis. During the same period last year, the business earned $1.49 earnings per share. Equities research analysts expect that Minerals Technologies Inc. will post 6.62 earnings per share for the current fiscal year.

Minerals Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 30th were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date was Friday, May 30th. Minerals Technologies’s dividend payout ratio (DPR) is currently -57.14%.

Wall Street Analyst Weigh In

MTX has been the subject of several research reports. Wall Street Zen 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, April 28th.

About Minerals Technologies

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.