Minerals Technologies Inc. (MTX) Shares Sold by First Mercantile Trust Co.
First Mercantile Trust Co. decreased its stake in Minerals Technologies Inc. (NYSE:MTX) by 8.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,690 shares of the company’s stock after selling 250 shares during the period. First Mercantile Trust Co.’s holdings in Minerals Technologies were worth $153,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Acrospire Investment Management LLC raised its position in shares of Minerals Technologies by 35.7% in the second quarter. Acrospire Investment Management LLC now owns 1,900 shares of the company’s stock valued at $108,000 after buying an additional 500 shares in the last quarter. LS Investment Advisors LLC raised its position in shares of Minerals Technologies by 69.7% in the second quarter. LS Investment Advisors LLC now owns 2,069 shares of the company’s stock valued at $118,000 after buying an additional 850 shares in the last quarter. Strs Ohio raised its position in shares of Minerals Technologies by 10.0% in the second quarter. Strs Ohio now owns 2,200 shares of the company’s stock valued at $124,000 after buying an additional 200 shares in the last quarter. Huntington National Bank raised its position in shares of Minerals Technologies by 2.4% in the second quarter. Huntington National Bank now owns 2,337 shares of the company’s stock valued at $133,000 after buying an additional 54 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its position in shares of Minerals Technologies by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 4,844 shares of the company’s stock valued at $275,000 after buying an additional 589 shares in the last quarter. 95.57% of the stock is currently owned by institutional investors and hedge funds.
Minerals Technologies Inc. (NYSE:MTX) opened at 70.30 on Thursday. The firm’s 50-day moving average is $68.86 and its 200 day moving average is $62.15. The firm has a market cap of $2.45 billion, a P/E ratio of 24.33 and a beta of 1.83. Minerals Technologies Inc. has a 12-month low of $35.89 and a 12-month high of $72.54.
Minerals Technologies (NYSE:MTX) last announced its earnings results on Thursday, August 4th. The company reported $1.20 EPS for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.04. Minerals Technologies had a net margin of 5.89% and a return on equity of 15.64%. The firm had revenue of $427 million for the quarter, compared to analysts’ expectations of $437.20 million. During the same quarter in the previous year, the business posted $1.18 EPS. The company’s quarterly revenue was down 7.9% on a year-over-year basis. Equities analysts forecast that Minerals Technologies Inc. will post $4.48 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 8th. Stockholders of record on Friday, August 26th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend was Wednesday, August 24th. Minerals Technologies’s dividend payout ratio (DPR) is presently 6.94%.
Separately, Zacks Investment Research upgraded shares of Minerals Technologies from a “hold” rating to a “buy” rating and set a $78.00 price objective on the stock in a report on Wednesday, August 10th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $69.50.
In other news, CFO Douglas T. Dietrich sold 11,080 shares of the business’s stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $69.21, for a total transaction of $766,846.80. Following the sale, the chief financial officer now owns 46,779 shares in the company, valued at approximately $3,237,574.59. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jonathan J. Hastings sold 7,606 shares of the business’s stock in a transaction on Wednesday, August 31st. The shares were sold at an average price of $70.85, for a total transaction of $538,885.10. Following the sale, 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. Insiders own 3.70% of the company’s stock.
About Minerals Technologies
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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