Alberta Investment Management Corp Purchases Shares of 29,500 Minerals Technologies Inc. (NYSE:MTX)

Alberta Investment Management Corp acquired a new position in shares of Minerals Technologies Inc. (NYSE:MTX) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 29,500 shares of the basic materials company’s stock, valued at approximately $1,875,000. Alberta Investment Management Corp owned about 0.09% of Minerals Technologies as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. FMR LLC lifted its position in Minerals Technologies by 42.7% in the fourth quarter. FMR LLC now owns 1,761,925 shares of the basic materials company’s stock valued at $134,276,000 after purchasing an additional 527,206 shares during the period. Norges Bank acquired a new position in shares of Minerals Technologies in the 4th quarter valued at $16,360,000. JPMorgan Chase & Co. lifted its holdings in shares of Minerals Technologies by 78.7% during the 4th quarter. JPMorgan Chase & Co. now owns 207,033 shares of the basic materials company’s stock valued at $15,778,000 after acquiring an additional 91,146 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Minerals Technologies in the 1st quarter worth $4,429,000. Finally, Invesco Ltd. lifted its holdings in Minerals Technologies by 36.8% in the 4th quarter. Invesco Ltd. now owns 256,211 shares of the basic materials company’s stock worth $19,526,000 after buying an additional 68,873 shares in the last quarter. Institutional investors and hedge funds own 97.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on MTX shares. Truist Financial upped their target price on shares of Minerals Technologies from $80.00 to $84.00 and gave the company a “buy” rating in a research note on Monday, July 28th. Wall Street Zen upgraded shares of Minerals Technologies from a “hold” rating to a “buy” rating in a research note on Saturday.

Minerals Technologies Trading Down 2.9%

Shares of NYSE:MTX opened at $56.44 on Monday. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of 940.74 and a beta of 1.22. Minerals Technologies Inc. has a 1-year low of $49.54 and a 1-year high of $86.49. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.35 and a current ratio of 1.95. The company has a 50 day moving average price of $57.60 and a 200 day moving average price of $62.08.

Minerals Technologies (NYSE:MTX) last posted its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.12. The firm had revenue of $528.90 million during the quarter, compared to analyst estimates of $529.13 million. Minerals Technologies had a net margin of 0.10% and a return on equity of 10.64%. The company’s revenue was down 2.3% on a year-over-year basis. During the same quarter last year, the business posted $1.65 EPS. On average, research analysts anticipate that Minerals Technologies Inc. will post 6.62 EPS for the current fiscal year.

Minerals Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.11 per share. The ex-dividend date is Friday, August 15th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.8%. Minerals Technologies’s dividend payout ratio (DPR) is currently 733.33%.

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.