Dimensional Fund Advisors LP Sells 30,686 Shares of Minerals Technologies Inc. $MTX

Dimensional Fund Advisors LP reduced its holdings in Minerals Technologies Inc. (NYSE:MTX) by 1.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,041,248 shares of the basic materials company’s stock after selling 30,686 shares during the period. Dimensional Fund Advisors LP owned approximately 6.56% of Minerals Technologies worth $126,800,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MTX. Victory Capital Management Inc. grew its holdings in Minerals Technologies by 3.3% during the 3rd quarter. Victory Capital Management Inc. now owns 295,972 shares of the basic materials company’s stock worth $18,386,000 after acquiring an additional 9,395 shares during the period. Royce & Associates LP lifted its stake in shares of Minerals Technologies by 1.2% in the 3rd quarter. Royce & Associates LP now owns 158,769 shares of the basic materials company’s stock valued at $9,863,000 after purchasing an additional 1,931 shares during the period. American Century Companies Inc. lifted its stake in shares of Minerals Technologies by 3.1% in the 3rd quarter. American Century Companies Inc. now owns 1,324,392 shares of the basic materials company’s stock valued at $82,271,000 after purchasing an additional 39,860 shares during the period. Handelsbanken Fonder AB boosted its position in shares of Minerals Technologies by 47.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 6,537 shares of the basic materials company’s stock worth $406,000 after purchasing an additional 2,100 shares during the last quarter. Finally, Hohimer Wealth Management LLC bought a new position in shares of Minerals Technologies in the 3rd quarter worth $216,000. 97.29% of the stock is owned by institutional investors.

Minerals Technologies Stock Up 0.7%

MTX stock opened at $68.07 on Thursday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.08 and a quick ratio of 1.45. The stock has a market capitalization of $2.11 billion, a P/E ratio of -133.46 and a beta of 1.24. Minerals Technologies Inc. has a fifty-two week low of $49.54 and a fifty-two week high of $75.29. The business has a 50-day moving average of $68.72 and a 200-day moving average of $63.37.

Minerals Technologies (NYSE:MTX) last announced its earnings results on Thursday, January 29th. The basic materials company reported $1.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.01). Minerals Technologies had a negative net margin of 0.89% and a positive return on equity of 10.22%. The firm had revenue of $519.50 million during the quarter, compared to analyst estimates of $517.83 million. During the same period in the prior year, the business posted $1.28 EPS. The firm’s quarterly revenue was up .3% compared to the same quarter last year. On average, sell-side analysts anticipate that Minerals Technologies Inc. will post 6.62 earnings per share for the current fiscal year.

Minerals Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Friday, February 13th were issued a $0.12 dividend. The ex-dividend date was Friday, February 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.7%. Minerals Technologies’s dividend payout ratio (DPR) is -94.12%.

Insider Activity at Minerals Technologies

In related news, insider Dj Monagle III sold 23,093 shares of the stock in a transaction on Monday, December 29th. The shares were sold at an average price of $61.90, for a total transaction of $1,429,456.70. Following the completion of the transaction, the insider owned 84,349 shares in the company, valued at approximately $5,221,203.10. This represents a 21.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of Minerals Technologies in a report on Monday, December 22nd. Zacks Research upgraded Minerals Technologies from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 14th. Finally, Truist Financial boosted their target price on Minerals Technologies from $84.00 to $89.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $89.00.

Minerals Technologies Profile

Minerals Technologies Inc develops, produces and processes a broad range of mineral-based products and solutions that serve a variety of industrial applications. Its offerings include bentonite, perlite, precipitated calcium carbonate (PCC), mineral sands, foundry additives, performance minerals and specialty chemicals designed to enhance performance in markets such as paper, steel, construction, oil and gas, environmental remediation and consumer products.

The company operates through several business segments, including Specialty Minerals, Refractory Minerals, Performance Materials and Recycled Materials.