Raymond James & Associates grew its stake in shares of Minerals Technologies Inc. (NYSE:MTX) by 10.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,894 shares of the basic materials company’s stock after acquiring an additional 2,619 shares during the period. Raymond James & Associates’ holdings in Minerals Technologies were worth $2,018,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Advisor Group Holdings Inc. lifted its position in Minerals Technologies by 21.4% during the second quarter. Advisor Group Holdings Inc. now owns 1,616 shares of the basic materials company’s stock worth $128,000 after acquiring an additional 285 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Minerals Technologies in the second quarter valued at approximately $209,000. Mirabella Financial Services LLP acquired a new stake in shares of Minerals Technologies in the second quarter valued at approximately $231,000. Qube Research & Technologies Ltd acquired a new stake in shares of Minerals Technologies in the second quarter valued at approximately $306,000. Finally, LPL Financial LLC raised its position in shares of Minerals Technologies by 65.6% in the second quarter. LPL Financial LLC now owns 4,599 shares of the basic materials company’s stock valued at $362,000 after buying an additional 1,822 shares in the last quarter. Hedge funds and other institutional investors own 94.29% of the company’s stock.
Separately, Zacks Investment Research cut shares of Minerals Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday.
Minerals Technologies (NYSE:MTX) last announced its quarterly earnings data on Thursday, November 4th. The basic materials company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.06. The business had revenue of $473.20 million for the quarter, compared to analysts’ expectations of $473.24 million. Minerals Technologies had a net margin of 8.51% and a return on equity of 10.83%. The firm’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same period last year, the firm posted $0.92 earnings per share. As a group, analysts anticipate that Minerals Technologies Inc. will post 4.95 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, December 9th. Shareholders of record on Wednesday, November 3rd were paid a dividend of $0.05 per share. The ex-dividend date was Tuesday, November 2nd. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.27%. Minerals Technologies’s payout ratio is presently 4.42%.
In related news, insider Dj Monagle III sold 9,340 shares of the business’s stock in a transaction on Thursday, December 16th. The shares were sold at an average price of $72.48, for a total value of $676,963.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Thomas J. Meek sold 16,814 shares of the business’s stock in a transaction on Wednesday, December 15th. The stock was sold at an average price of $71.05, for a total transaction of $1,194,634.70. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,754 shares of company stock worth $2,510,492. Insiders own 3.20% of the company’s stock.
Minerals Technologies Profile
Minerals Technologies, Inc is a resource and technology-based company. It develops, produces, and markets a range of mineral, mineral-based, and synthetic mineral products. It operates through the following four segments: Performance Materials, Specialty Minerals, Refractories and Energy Services. The Performance Materials segment supplies bentonite and bentonite-related products, chromite and leonardite.
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