Deutsche Bank AG Reduces Stock Position in Minerals Technologies Inc. $MTX

Deutsche Bank AG reduced its holdings in shares of Minerals Technologies Inc. (NYSE:MTX) by 9.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,706 shares of the basic materials company’s stock after selling 2,769 shares during the quarter. Deutsche Bank AG owned about 0.08% of Minerals Technologies worth $1,634,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. QRG Capital Management Inc. lifted its stake in shares of Minerals Technologies by 7.3% during the 1st quarter. QRG Capital Management Inc. now owns 6,955 shares of the basic materials company’s stock valued at $442,000 after buying an additional 474 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Minerals Technologies by 15,381.2% during the 1st quarter. GAMMA Investing LLC now owns 13,159 shares of the basic materials company’s stock valued at $837,000 after buying an additional 13,074 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of Minerals Technologies by 341.8% during the 1st quarter. SG Americas Securities LLC now owns 8,394 shares of the basic materials company’s stock valued at $534,000 after buying an additional 6,494 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Minerals Technologies by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 171,008 shares of the basic materials company’s stock worth $10,871,000 after purchasing an additional 4,361 shares in the last quarter. Finally, Isthmus Partners LLC purchased a new stake in Minerals Technologies in the 1st quarter worth approximately $1,279,000. 97.29% of the stock is currently owned by hedge funds and other institutional investors.

Minerals Technologies Price Performance

Shares of NYSE:MTX opened at $63.8180 on Friday. The company’s fifty day moving average price is $58.26 and its 200-day moving average price is $60.57. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 1,063.81 and a beta of 1.22. Minerals Technologies Inc. has a one year low of $49.54 and a one year high of $86.49. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.95 and a quick ratio of 1.35.

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

Minerals Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 15th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.44 annualized dividend and a dividend yield of 0.7%. Minerals Technologies’s dividend payout ratio (DPR) is currently 733.33%.

Wall Street Analyst Weigh In

Several research firms have issued reports on MTX. Truist Financial increased their target price on shares of Minerals Technologies from $80.00 to $84.00 and gave the stock 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, August 2nd. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $84.00.

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.