Voya Investment Management LLC Buys 9,238 Shares of Minerals Technologies Inc. $MTX

Voya Investment Management LLC raised its stake in shares of Minerals Technologies Inc. (NYSE:MTX) by 36.6% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 34,511 shares of the basic materials company’s stock after acquiring an additional 9,238 shares during the period. Voya Investment Management LLC owned approximately 0.11% of Minerals Technologies worth $2,194,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MTX. Strs Ohio purchased a new stake in shares of Minerals Technologies during the 1st quarter valued at about $70,000. Quarry LP increased its position in shares of Minerals Technologies by 105.3% during the 1st quarter. Quarry LP now owns 1,503 shares of the basic materials company’s stock valued at $96,000 after purchasing an additional 771 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Minerals Technologies during the 1st quarter valued at about $124,000. State of Wyoming increased its position in shares of Minerals Technologies by 11.5% during the 1st quarter. State of Wyoming now owns 2,684 shares of the basic materials company’s stock valued at $171,000 after purchasing an additional 277 shares during the last quarter. Finally, EP Wealth Advisors LLC increased its position in shares of Minerals Technologies by 12.0% during the 1st quarter. EP Wealth Advisors LLC now owns 4,377 shares of the basic materials company’s stock valued at $278,000 after purchasing an additional 470 shares during the last quarter. Hedge funds and other institutional investors own 97.29% of the company’s stock.

Minerals Technologies Trading Down 2.7%

MTX stock opened at $62.93 on Monday. 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 current ratio of 1.95 and a quick ratio of 1.35. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of 1,049.01 and a beta of 1.22. The business has a 50 day simple moving average of $61.33 and a two-hundred day simple moving average of $59.45.

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

Minerals Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 15th were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Friday, August 15th. Minerals Technologies’s dividend payout ratio is currently 733.33%.

Wall Street Analyst Weigh In

Several research firms have recently commented on MTX. Truist Financial upped their price target on shares of Minerals Technologies from $80.00 to $84.00 and gave the company a “buy” rating in a research report on Monday, July 28th. Wall Street Zen lowered shares of Minerals Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 13th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $84.00.

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.