American Century Companies Inc. Boosts Stock Position in Minerals Technologies Inc. $MTX

American Century Companies Inc. boosted its position in shares of Minerals Technologies Inc. (NYSE:MTX) by 3.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,324,392 shares of the basic materials company’s stock after acquiring an additional 39,860 shares during the quarter. American Century Companies Inc. owned 4.25% of Minerals Technologies worth $82,271,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Aristides Capital LLC boosted its stake in shares of Minerals Technologies by 4.9% in the second quarter. Aristides Capital LLC now owns 4,182 shares of the basic materials company’s stock valued at $230,000 after purchasing an additional 195 shares during the period. Bank of Montreal Can lifted its holdings in Minerals Technologies by 3.4% during the 2nd quarter. Bank of Montreal Can now owns 8,814 shares of the basic materials company’s stock worth $485,000 after buying an additional 287 shares in the last quarter. California State Teachers Retirement System boosted its position in Minerals Technologies by 1.0% in the 2nd quarter. California State Teachers Retirement System now owns 29,716 shares of the basic materials company’s stock valued at $1,636,000 after buying an additional 304 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Minerals Technologies by 52.7% in the third quarter. EverSource Wealth Advisors LLC now owns 910 shares of the basic materials company’s stock worth $57,000 after acquiring an additional 314 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Minerals Technologies by 1.2% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 27,833 shares of the basic materials company’s stock worth $1,533,000 after acquiring an additional 325 shares in the last quarter. 97.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MTX has been the topic of several analyst reports. Truist Financial increased their price objective on Minerals Technologies from $84.00 to $89.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Zacks Research raised Minerals Technologies from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 14th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Minerals Technologies in a research report on Monday, December 22nd. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $89.00.

Minerals Technologies Stock Performance

Shares of MTX opened at $70.95 on Wednesday. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of -139.11 and a beta of 1.24. Minerals Technologies Inc. has a 52-week low of $49.54 and a 52-week high of $75.29. The company has a quick ratio of 1.45, a current ratio of 2.08 and a debt-to-equity ratio of 0.55. The stock has a 50 day moving average price of $67.88 and a 200 day moving average price of $63.07.

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

Minerals Technologies Dividend Announcement

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

Insider Transactions at Minerals Technologies

In other Minerals Technologies news, insider Dj Monagle III sold 23,093 shares of the company’s stock in a transaction on Monday, December 29th. The shares were sold at an average price of $61.90, for a total value of $1,429,456.70. Following the completion of the transaction, the insider owned 84,349 shares in the company, valued at $5,221,203.10. This represents a 21.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.50% of the stock is owned by corporate insiders.

Minerals Technologies Company 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.