Allspring Global Investments Holdings LLC Decreases Stock Holdings in Minerals Technologies Inc. $MTX

Allspring Global Investments Holdings LLC lowered its holdings in shares of Minerals Technologies Inc. (NYSE:MTX) by 17.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 409,734 shares of the basic materials company’s stock after selling 83,698 shares during the quarter. Allspring Global Investments Holdings LLC owned 1.32% of Minerals Technologies worth $25,055,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Wedge Capital Management L L P NC lifted its stake in shares of Minerals Technologies by 8.5% in the 4th quarter. Wedge Capital Management L L P NC now owns 24,278 shares of the basic materials company’s stock valued at $1,480,000 after purchasing an additional 1,905 shares during the last quarter. SG Americas Securities LLC lifted its position in Minerals Technologies by 42.8% in the fourth quarter. SG Americas Securities LLC now owns 11,088 shares of the basic materials company’s stock worth $676,000 after buying an additional 3,321 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Minerals Technologies by 24.1% during the third quarter. JPMorgan Chase & Co. now owns 156,584 shares of the basic materials company’s stock worth $9,727,000 after buying an additional 30,443 shares during the period. CIBC Bancorp USA Inc. bought a new position in Minerals Technologies during the third quarter valued at $209,000. Finally, Danske Bank A S bought a new position in Minerals Technologies during the third quarter valued at $56,000. 97.29% of the stock is owned by hedge funds and other institutional investors.

Minerals Technologies Trading Down 0.0%

Shares of NYSE MTX opened at $69.29 on Friday. Minerals Technologies Inc. has a 1-year low of $49.54 and a 1-year high of $75.29. The business has a fifty day moving average price of $69.87 and a 200 day moving average price of $63.94. The stock has a market capitalization of $2.15 billion, a P/E ratio of -135.86 and a beta of 1.19. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.08 and a quick ratio of 1.45.

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

Minerals Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Friday, February 13th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a $0.48 dividend on an annualized basis and a yield of 0.7%. Minerals Technologies’s dividend payout ratio is presently -94.12%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on MTX shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Minerals Technologies in a research note on Monday, December 22nd. Truist Financial increased their price objective on shares of Minerals Technologies from $84.00 to $89.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Wall Street Zen upgraded Minerals Technologies from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, Zacks Research raised Minerals Technologies from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 14th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently 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.