Arizona State Retirement System Sells 189 Shares of Minerals Technologies Inc. (NYSE:MTX)

Arizona State Retirement System lessened its stake in Minerals Technologies Inc. (NYSE:MTX) by 2.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,148 shares of the basic materials company’s stock after selling 189 shares during the quarter. Arizona State Retirement System’s holdings in Minerals Technologies were worth $582,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of MTX. Blair William & Co. IL grew its holdings in Minerals Technologies by 3.2% during the 4th quarter. Blair William & Co. IL now owns 5,657 shares of the basic materials company’s stock worth $431,000 after acquiring an additional 177 shares during the last quarter. Balyasny Asset Management L.P. lifted its holdings in shares of Minerals Technologies by 4.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 5,312 shares of the basic materials company’s stock valued at $405,000 after purchasing an additional 235 shares in the last quarter. Bank of Montreal Can boosted its holdings in Minerals Technologies by 4.5% during the fourth quarter. Bank of Montreal Can now owns 7,309 shares of the basic materials company’s stock worth $557,000 after purchasing an additional 312 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in Minerals Technologies by 5.1% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 8,021 shares of the basic materials company’s stock worth $611,000 after purchasing an additional 389 shares during the last quarter. Finally, Swiss National Bank grew its stake in Minerals Technologies by 0.6% in the 4th quarter. Swiss National Bank now owns 63,300 shares of the basic materials company’s stock valued at $4,824,000 after purchasing an additional 400 shares during the period. 97.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Minerals Technologies Trading Up 3.5%

Shares of MTX stock opened at $59.02 on Tuesday. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of 9.83 and a beta of 1.20. The stock has a 50-day moving average of $57.38 and a 200-day moving average of $63.08. Minerals Technologies Inc. has a 1-year low of $49.54 and a 1-year high of $90.30. The company has a current ratio of 1.89, a quick ratio of 1.31 and a debt-to-equity ratio of 0.59.

Minerals Technologies (NYSE:MTX) last released 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). The business had revenue of $491.80 million for the quarter, compared to the consensus estimate of $502.03 million. Minerals Technologies had a negative net margin of 1.14% and a positive return on equity of 10.90%. The company’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.49 EPS. On average, equities research analysts forecast that Minerals Technologies Inc. will post 6.62 earnings per share for the current year.

Minerals Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.75%. The ex-dividend date is Friday, August 15th. Minerals Technologies’s payout ratio is currently -57.14%.

Insider Activity

In other Minerals Technologies news, CFO Erik Aldag acquired 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 30th. The shares were purchased at an average cost of $50.37 per share, for a total transaction of $50,370.00. Following the completion of the acquisition, the chief financial officer owned 4,245 shares of the company’s stock, valued at approximately $213,820.65. The trade was a 30.82% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kristina M. Johnson purchased 1,000 shares of the company’s stock in a transaction on Friday, May 2nd. The stock was acquired at an average price of $53.79 per share, with a total value of $53,790.00. Following the purchase, the director owned 1,400 shares of the company’s stock, valued at approximately $75,306. This represents a 250.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 2,370 shares of company stock worth $124,255. Corporate insiders own 3.50% of the company’s stock.

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.