Prudential Financial Inc. Sells 55,310 Shares of Minerals Technologies Inc. (MTX)
Prudential Financial Inc. decreased its position in Minerals Technologies Inc. (NYSE:MTX) by 33.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 110,424 shares of the company’s stock after selling 55,310 shares during the period. Prudential Financial Inc. owned 0.32% of Minerals Technologies worth $6,272,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. BlackRock Institutional Trust Company N.A. increased its stake in shares of Minerals Technologies by 1.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,010,148 shares of the company’s stock worth $57,427,000 after buying an additional 14,874 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Minerals Technologies by 23.2% in the first quarter. Wellington Management Group LLP now owns 1,319,174 shares of the company’s stock worth $74,995,000 after buying an additional 248,125 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Minerals Technologies by 235.6% in the second quarter. Nordea Investment Management AB now owns 10,527 shares of the company’s stock worth $598,000 after buying an additional 7,390 shares in the last quarter. Systematic Financial Management LP increased its stake in shares of Minerals Technologies by 83.4% in the second quarter. Systematic Financial Management LP now owns 58,700 shares of the company’s stock worth $3,334,000 after buying an additional 26,695 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Minerals Technologies by 95.1% in the first quarter. Goldman Sachs Group Inc. now owns 675,750 shares of the company’s stock worth $38,417,000 after buying an additional 329,366 shares in the last quarter. Hedge funds and other institutional investors own 95.62% of the company’s stock.
Minerals Technologies Inc. (NYSE:MTX) opened at 69.39 on Tuesday. Minerals Technologies Inc. has a one year low of $35.89 and a one year high of $72.54. The firm has a market capitalization of $2.42 billion, a P/E ratio of 24.01 and a beta of 1.83. The firm’s 50-day moving average price is $68.76 and its 200 day moving average price is $62.52.
Minerals Technologies (NYSE:MTX) last issued its earnings results on Thursday, August 4th. The company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.04. Minerals Technologies had a net margin of 5.89% and a return on equity of 15.64%. The business 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 firm posted $1.18 EPS. The business’s revenue for the quarter was down 7.9% compared to the same quarter last year. On average, equities analysts anticipate that Minerals Technologies Inc. will post $4.48 earnings per share for the current fiscal year.
Separately, Zacks Investment Research raised Minerals Technologies from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a report on Wednesday, August 10th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Minerals Technologies has a consensus rating of “Buy” and an average target price of $69.50.
In other Minerals Technologies news, 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 of the company’s stock, valued at approximately $1,315,330.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 directly owns 46,779 shares in the company, valued at approximately $3,237,574.59. 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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