Minerals Technologies Inc. $MTX Shares Sold by Snyder Capital Management L P

Snyder Capital Management L P lowered its stake in shares of Minerals Technologies Inc. (NYSE:MTX) by 1.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 564,234 shares of the basic materials company’s stock after selling 8,987 shares during the quarter. Snyder Capital Management L P owned about 1.81% of Minerals Technologies worth $35,050,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. First Horizon Advisors Inc. increased its stake in Minerals Technologies by 161.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 590 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 364 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Minerals Technologies by 626.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 596 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 514 shares during the last quarter. First Horizon Corp acquired a new stake in Minerals Technologies during the 3rd quarter worth about $35,000. Strs Ohio purchased a new stake in Minerals Technologies during the 1st quarter valued at about $70,000. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Minerals Technologies by 136.2% in the second quarter. Smartleaf Asset Management LLC now owns 1,278 shares of the basic materials company’s stock valued at $71,000 after purchasing an additional 737 shares during the period. 97.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MTX has been the subject of several research analyst reports. Truist Financial raised their price objective on Minerals Technologies from $84.00 to $89.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. Weiss Ratings reissued a “sell (d+)” rating on shares of Minerals Technologies in a research report on Monday, December 22nd. Finally, Zacks Research raised shares of Minerals Technologies from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 14th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Minerals Technologies currently has an average rating of “Hold” and a consensus target price of $89.00.

Minerals Technologies Stock Up 1.1%

Shares of MTX stock opened at $71.70 on Thursday. Minerals Technologies Inc. has a twelve month low of $49.54 and a twelve month high of $75.29. The stock has a market cap of $2.23 billion, a P/E ratio of -140.59 and a beta of 1.24. The stock has a 50 day moving average of $68.07 and a 200 day moving average of $63.13. The company has a current ratio of 2.08, a quick ratio of 1.45 and a debt-to-equity ratio of 0.55.

Minerals Technologies (NYSE:MTX) last issued its quarterly earnings data on Thursday, January 29th. The basic materials company reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.01). The firm had revenue of $519.50 million for the quarter, compared to analyst estimates of $517.83 million. Minerals Technologies had a positive return on equity of 10.22% and a negative net margin of 0.89%.Minerals Technologies’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.28 EPS. As a group, sell-side analysts expect that Minerals Technologies Inc. will post 6.62 EPS for the current year.

Minerals Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 13th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $0.48 dividend on an annualized basis and a yield of 0.7%. Minerals Technologies’s payout ratio is presently -94.12%.

Insider Buying and Selling at Minerals Technologies

In other Minerals Technologies news, insider Dj Monagle III sold 23,093 shares of the company’s stock in a transaction dated Monday, December 29th. The shares were sold at an average price of $61.90, for a total value of $1,429,456.70. Following the completion of the transaction, the insider owned 84,349 shares in the company, valued at approximately $5,221,203.10. This represents a 21.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 3.30% of the company’s stock.

About Minerals Technologies

Minerals Technologies Inc develops, produces and processes a broad range of mineral-based products and solutions that serve a variety of industrial applications. Its offerings include bentonite, perlite, precipitated calcium carbonate (PCC), mineral sands, foundry additives, performance minerals and specialty chemicals designed to enhance performance in markets such as paper, steel, construction, oil and gas, environmental remediation and consumer products.

The company operates through several business segments, including Specialty Minerals, Refractory Minerals, Performance Materials and Recycled Materials.