Minerals Technologies Inc. (MTX) Shares Bought by American Century Companies Inc.
American Century Companies Inc. raised its stake in Minerals Technologies Inc. (NYSE:MTX) by 16.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 609,589 shares of the company’s stock after purchasing an additional 86,577 shares during the period. American Century Companies Inc. owned 1.74% of Minerals Technologies worth $43,067,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Tocqueville Asset Management L.P. increased its stake in Minerals Technologies by 11.2% in the third quarter. Tocqueville Asset Management L.P. now owns 213,646 shares of the company’s stock valued at $15,094,000 after purchasing an additional 21,500 shares in the last quarter. Victory Capital Management Inc. increased its stake in Minerals Technologies by 67.4% in the third quarter. Victory Capital Management Inc. now owns 3,439 shares of the company’s stock valued at $243,000 after purchasing an additional 1,385 shares in the last quarter. Crossmark Global Holdings Inc. bought a new stake in Minerals Technologies in the third quarter valued at $395,000. Vaughan Nelson Investment Management L.P. increased its stake in Minerals Technologies by 15.7% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 555,925 shares of the company’s stock valued at $39,277,000 after purchasing an additional 75,250 shares in the last quarter. Finally, Nationwide Fund Advisors increased its stake in Minerals Technologies by 2.3% in the third quarter. Nationwide Fund Advisors now owns 103,932 shares of the company’s stock valued at $7,343,000 after purchasing an additional 2,303 shares in the last quarter. 94.36% of the stock is owned by hedge funds and other institutional investors.
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Minerals Technologies Inc. (MTX) opened at C$71.30 on Monday. The stock has a market cap of $2,521.66, a PE ratio of 15.60 and a beta of 2.26. Minerals Technologies Inc. has a twelve month low of C$62.55 and a twelve month high of C$83.85. The company has a current ratio of 2.66, a quick ratio of 1.98 and a debt-to-equity ratio of 0.82.
Minerals Technologies (NYSE:MTX) last issued its quarterly earnings data on Thursday, November 2nd. The company reported C$1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.17 by C$0.02. The firm had revenue of C$424.40 million during the quarter, compared to analysts’ expectations of C$404.80 million. Minerals Technologies had a net margin of 9.48% and a return on equity of 14.59%. The business’s revenue was up 6.2% on a year-over-year basis. During the same period last year, the company earned $1.17 earnings per share. sell-side analysts anticipate that Minerals Technologies Inc. will post 4.6 EPS for the current fiscal year.
Minerals Technologies declared that its Board of Directors has initiated a share repurchase plan on Thursday, September 21st that allows the company to buyback $150.00 million in shares. This buyback authorization allows the company to repurchase up to 6.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
Several equities research analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Minerals Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. ValuEngine cut shares of Minerals Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Finally, KeyCorp reiterated a “hold” rating on shares of Minerals Technologies in a report on Monday, November 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Minerals Technologies presently has an average rating of “Hold” and an average target price of C$80.00.
In other news, insider Dj Monagle III sold 25,639 shares of Minerals Technologies stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of C$70.03, for a total transaction of C$1,795,499.17. Following the completion of the transaction, the insider now directly owns 39,579 shares in the company, valued at C$2,771,717.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.20% of the stock is owned by company insiders.
Minerals Technologies Profile
Minerals Technologies Inc is a resource- and technology-based company that develops, produces and markets a range of specialty mineral, mineral-based and synthetic mineral products and related systems and services around the world. It operates through four segments. The Specialty Minerals segment produces and sells the synthetic mineral product precipitated calcium carbonate (PCC), mines mineral ores, and processes and sells natural mineral products, primarily limestone and talc.
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