Victory Capital Management Inc. Increases Stock Position in Minerals Technologies Inc. $MTX

Victory Capital Management Inc. grew its position in shares of Minerals Technologies Inc. (NYSE:MTX) by 3.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 295,972 shares of the basic materials company’s stock after buying an additional 9,395 shares during the quarter. Victory Capital Management Inc. owned 0.95% of Minerals Technologies worth $18,386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in Minerals Technologies by 24.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 156,584 shares of the basic materials company’s stock worth $9,727,000 after buying an additional 30,443 shares during the period. American Century Companies Inc. raised its holdings in Minerals Technologies by 20.3% during the second quarter. American Century Companies Inc. now owns 1,284,532 shares of the basic materials company’s stock valued at $70,739,000 after acquiring an additional 216,453 shares during the period. Isthmus Partners LLC lifted its position in shares of Minerals Technologies by 52.7% in the second quarter. Isthmus Partners LLC now owns 30,722 shares of the basic materials company’s stock valued at $1,692,000 after acquiring an additional 10,602 shares in the last quarter. CW Advisors LLC lifted its position in shares of Minerals Technologies by 104.7% in the second quarter. CW Advisors LLC now owns 21,940 shares of the basic materials company’s stock valued at $1,208,000 after acquiring an additional 11,224 shares in the last quarter. Finally, Savant Capital LLC bought a new position in shares of Minerals Technologies in the second quarter worth about $433,000. 97.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Buying and Selling at Minerals Technologies

In other 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 transaction of $1,429,456.70. Following the sale, the insider directly owned 84,349 shares in the company, valued at approximately $5,221,203.10. This represents a 21.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.50% of the stock is currently owned by company insiders.

Minerals Technologies Price Performance

Shares of Minerals Technologies stock opened at $67.90 on Wednesday. The firm has a market cap of $2.11 billion, a PE ratio of -133.12 and a beta of 1.24. The stock has a 50 day moving average of $68.58 and a 200 day moving average of $63.34. 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 Inc. has a 12 month low of $49.54 and a 12 month high of $75.29.

Minerals Technologies (NYSE:MTX) last issued its quarterly earnings data on Thursday, January 29th. The basic materials company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.01). Minerals Technologies had a positive return on equity of 10.22% and a negative net margin of 0.89%.The firm had revenue of $519.50 million for the quarter, compared to analysts’ expectations of $517.83 million. During the same period last year, the company earned $1.28 earnings per share. The firm’s revenue was up .3% on a year-over-year basis. On average, research analysts expect that Minerals Technologies Inc. will post 6.62 EPS for the current fiscal year.

Minerals Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Friday, February 13th were issued a $0.12 dividend. The ex-dividend date was Friday, February 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.7%. Minerals Technologies’s payout ratio is -94.12%.

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.