Blue Trust Inc. Boosts Stake in Minerals Technologies Inc. $MTX

Blue Trust Inc. raised its position in Minerals Technologies Inc. (NYSE:MTX) by 44.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,011 shares of the basic materials company’s stock after buying an additional 312 shares during the period. Blue Trust Inc.’s holdings in Minerals Technologies were worth $56,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Strs Ohio purchased a new stake in Minerals Technologies in the 1st quarter valued at about $70,000. Quarry LP grew 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 acquiring an additional 771 shares during the period. Quantbot Technologies LP bought a new position in shares of Minerals Technologies during the 1st quarter valued at approximately $124,000. State of Wyoming grew 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 acquiring an additional 277 shares during the period. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of Minerals Technologies during the 2nd quarter valued at approximately $212,000. Hedge funds and other institutional investors own 97.29% of the company’s stock.

Analyst Upgrades and Downgrades

MTX has been the subject of a number of research reports. Wall Street Zen downgraded shares of Minerals Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Weiss Ratings reissued a “sell (d+)” rating on shares of Minerals Technologies in a research report on Wednesday, October 8th. Finally, Truist Financial increased their target price 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. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Minerals Technologies presently has an average rating of “Hold” and a consensus price target of $84.00.

Minerals Technologies Stock Down 0.4%

MTX opened at $59.32 on Friday. The company has a 50 day moving average of $62.23 and a 200 day moving average of $58.79. The company has a market cap of $1.86 billion, a PE ratio of 988.86 and a beta of 1.23. Minerals Technologies Inc. has a 12 month low of $49.54 and a 12 month high of $86.49. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.57.

Minerals Technologies (NYSE:MTX) last released its quarterly earnings results on Wednesday, March 15th. The basic materials company reported $1.50 EPS for the quarter. The firm had revenue of $557.00 million during the quarter. Minerals Technologies had a net margin of 0.10% and a return on equity of 10.64%. On average, sell-side analysts expect that Minerals Technologies Inc. will post 6.62 EPS for the current year.

Minerals Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 4th. Stockholders of record on Thursday, October 30th will be given a dividend of $0.12 per share. This is an increase from Minerals Technologies’s previous quarterly dividend of $0.11. The ex-dividend date is Thursday, October 30th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.8%. Minerals Technologies’s dividend payout ratio (DPR) is presently 733.33%.

Minerals Technologies 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.