Invesco Ltd. Trims Stock Holdings in Minerals Technologies Inc. $MTX

Invesco Ltd. decreased its position in Minerals Technologies Inc. (NYSE:MTX) by 6.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 239,100 shares of the basic materials company’s stock after selling 17,111 shares during the quarter. Invesco Ltd. owned approximately 0.75% of Minerals Technologies worth $15,200,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Snyder Capital Management L P boosted its holdings in shares of Minerals Technologies by 8.5% during the 4th quarter. Snyder Capital Management L P now owns 630,381 shares of the basic materials company’s stock valued at $48,041,000 after buying an additional 49,376 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in Minerals Technologies by 6.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 543,547 shares of the basic materials company’s stock valued at $33,879,000 after acquiring an additional 32,342 shares during the period. Northern Trust Corp boosted its stake in Minerals Technologies by 9.6% during the fourth quarter. Northern Trust Corp now owns 498,929 shares of the basic materials company’s stock worth $38,023,000 after acquiring an additional 43,546 shares in the last quarter. Bank of America Corp DE boosted its stake in Minerals Technologies by 4.0% during the fourth quarter. Bank of America Corp DE now owns 434,789 shares of the basic materials company’s stock worth $33,135,000 after acquiring an additional 16,683 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Minerals Technologies by 5.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 364,408 shares of the basic materials company’s stock worth $27,771,000 after purchasing an additional 18,856 shares during the period. Hedge funds and other institutional investors own 97.29% of the company’s stock.

Minerals Technologies Stock Up 4.4%

Shares of Minerals Technologies stock opened at $63.8180 on Friday. The company has a 50-day simple moving average of $58.26 and a two-hundred day simple moving average of $60.57. The stock has a market capitalization of $2.00 billion, a PE ratio of 1,063.81 and a beta of 1.22. Minerals Technologies Inc. has a 52-week low of $49.54 and a 52-week 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.

Minerals Technologies (NYSE:MTX) last announced its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.55 earnings per share 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 during the quarter, compared to the consensus estimate of $529.13 million. During the same quarter last year, the firm earned $1.65 earnings per share. The firm’s quarterly revenue was down 2.3% compared to the same quarter last year. On average, analysts anticipate that Minerals Technologies Inc. will post 6.62 EPS for the current fiscal year.

Minerals Technologies Dividend Announcement

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 paid a $0.11 dividend. The ex-dividend date is Friday, August 15th. This represents a $0.44 annualized dividend and a dividend yield of 0.7%. Minerals Technologies’s payout ratio is currently 733.33%.

Analyst Upgrades and Downgrades

MTX has been the subject of several recent research reports. Truist Financial lifted their target price on shares of Minerals Technologies from $80.00 to $84.00 and gave the company a “buy” rating in a report on Monday, July 28th. Wall Street Zen upgraded 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, the company currently has a consensus rating of “Buy” and an average price target 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.