Y Intercept Hong Kong Ltd Invests $1.45 Million in Minerals Technologies Inc. $MTX

Y Intercept Hong Kong Ltd purchased a new position in Minerals Technologies Inc. (NYSE:MTX) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 26,324 shares of the basic materials company’s stock, valued at approximately $1,450,000. Y Intercept Hong Kong Ltd owned about 0.08% of Minerals Technologies as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in MTX. Blue Trust Inc. raised its holdings in shares of Minerals Technologies by 44.6% in the second quarter. Blue Trust Inc. now owns 1,011 shares of the basic materials company’s stock worth $56,000 after acquiring an additional 312 shares during the last quarter. Strs Ohio acquired a new position in shares of Minerals Technologies in the first quarter worth $70,000. Quarry LP raised its holdings in shares of Minerals Technologies by 105.3% in the first quarter. Quarry LP now owns 1,503 shares of the basic materials company’s stock worth $96,000 after acquiring an additional 771 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Minerals Technologies in the first quarter worth $124,000. Finally, State of Wyoming raised its holdings in shares of Minerals Technologies by 11.5% in the first quarter. State of Wyoming now owns 2,684 shares of the basic materials company’s stock worth $171,000 after acquiring an additional 277 shares during the last quarter. 97.29% of the stock is owned by institutional investors and hedge funds.

Minerals Technologies Stock Performance

Minerals Technologies stock opened at $56.72 on Monday. The firm has a market capitalization of $1.77 billion, a P/E ratio of -2,834.33 and a beta of 1.23. The stock has a fifty day moving average price of $61.70 and a 200 day moving average price of $58.98. Minerals Technologies Inc. has a 52 week low of $49.54 and a 52 week high of $86.49. The company has a current ratio of 1.98, a quick ratio of 1.37 and a debt-to-equity ratio of 0.56.

Minerals Technologies (NYSE:MTX) last released its 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 positive return on equity of 10.69% and a negative net margin of 0.08%. Equities research analysts anticipate that Minerals Technologies Inc. will post 6.62 earnings per share for the current year.

Minerals Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Thursday, October 30th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.8%. This is a boost from Minerals Technologies’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Thursday, October 30th. Minerals Technologies’s dividend payout ratio (DPR) is presently -2,400.00%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Truist Financial boosted their price target on Minerals Technologies from $80.00 to $84.00 and gave the stock a “buy” rating in a report on Monday, July 28th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Minerals Technologies in a research note on Wednesday, October 8th. Finally, Wall Street Zen lowered Minerals Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 18th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $84.00.

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.