Acrospire Investment Management LLC Has $108,000 Position in Minerals Technologies Inc. (MTX)
Acrospire Investment Management LLC boosted its position in shares of Minerals Technologies Inc. (NYSE:MTX) by 35.7% during the second quarter, Holdings Channel reports. The institutional investor owned 1,900 shares of the company’s stock after buying an additional 500 shares during the period. Acrospire Investment Management LLC’s holdings in Minerals Technologies were worth $108,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of the stock. LS Investment Advisors LLC raised its stake in Minerals Technologies by 69.7% in the second quarter. LS Investment Advisors LLC now owns 2,069 shares of the company’s stock worth $118,000 after buying an additional 850 shares in the last quarter. Strs Ohio raised its stake in Minerals Technologies by 10.0% in the second quarter. Strs Ohio now owns 2,200 shares of the company’s stock worth $124,000 after buying an additional 200 shares in the last quarter. Huntington National Bank raised its stake in Minerals Technologies by 2.4% in the second quarter. Huntington National Bank now owns 2,337 shares of the company’s stock worth $133,000 after buying an additional 54 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Minerals Technologies by 64.8% in the first quarter. Envestnet Asset Management Inc. now owns 2,936 shares of the company’s stock worth $167,000 after buying an additional 1,154 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its stake in Minerals Technologies by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 4,844 shares of the company’s stock worth $275,000 after buying an additional 589 shares in the last quarter. 95.85% of the stock is currently owned by institutional investors.
Minerals Technologies Inc. (NYSE:MTX) traded down 0.96% on Tuesday, hitting $65.33. 30,119 shares of the company were exchanged. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of 22.61 and a beta of 1.85. Minerals Technologies Inc. has a 52 week low of $35.89 and a 52 week high of $72.54. The stock has a 50 day moving average of $68.72 and a 200 day moving average of $60.89.
Minerals Technologies (NYSE:MTX) last posted its quarterly earnings results on Thursday, August 4th. The company reported $1.20 EPS for the quarter, topping the consensus estimate of $1.16 by $0.04. The firm had revenue of $427 million for the quarter, compared to the consensus estimate of $437.20 million. Minerals Technologies had a net margin of 5.89% and a return on equity of 15.64%. The business’s revenue was down 7.9% compared to the same quarter last year. During the same period last year, the firm posted $1.18 earnings per share. Analysts predict that Minerals Technologies Inc. will post $4.48 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 8th. Shareholders of record on Friday, August 26th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.30%. The ex-dividend date was Wednesday, August 24th. Minerals Technologies’s dividend payout ratio (DPR) is presently 6.94%.
A number of equities research analysts have recently commented on MTX shares. Zacks Investment Research raised shares of Minerals Technologies from a “hold” rating to a “buy” rating and set a $78.00 price objective on the stock in a research note on Wednesday, August 10th. Wedbush lowered shares of Minerals Technologies from an “outperform” rating to a “neutral” rating and set a $62.00 price objective on the stock. in a research note on Thursday, May 26th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $69.50.
In other news, VP Rick Honey sold 6,811 shares of the firm’s stock in a transaction that occurred on Monday, June 27th. The shares were sold at an average price of $52.95, for a total value of $360,642.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jonathan J. Hastings sold 7,606 shares of the firm’s stock in a transaction that occurred on Wednesday, August 31st. The stock was sold at an average price of $70.85, for a total transaction of $538,885.10. Following the completion of the transaction, the insider now owns 18,565 shares in the company, valued at approximately $1,315,330.25. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.
Minerals Technologies Company Profile
Minerals Technologies Inc is a resource-and technology-based company that develops, produces and markets worldwide a range of specialty mineral, mineral-based and synthetic mineral products and related systems and services. It has five segments. The Specialty Minerals, Performance Materials, and Construction Technologies segments produce and sell products and technologies based primarily upon the mineral products calcium carbonate, bentonite, talc, chromite and leonardite.
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