The Manufacturers Life Insurance Company Makes New Investment in Minerals Technologies Inc. $MTX

The Manufacturers Life Insurance Company bought a new position in Minerals Technologies Inc. (NYSE:MTX) during the second quarter, HoldingsChannel.com reports. The fund bought 14,801 shares of the basic materials company’s stock, valued at approximately $1,095,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Royal Bank of Canada boosted its stake in Minerals Technologies by 28.4% in the 1st quarter. Royal Bank of Canada now owns 19,629 shares of the basic materials company’s stock worth $1,249,000 after purchasing an additional 4,337 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Minerals Technologies by 9.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 110,044 shares of the basic materials company’s stock valued at $6,995,000 after purchasing an additional 9,363 shares during the last quarter. Jane Street Group LLC increased its stake in Minerals Technologies by 177.6% during the 1st quarter. Jane Street Group LLC now owns 68,156 shares of the basic materials company’s stock valued at $4,333,000 after purchasing an additional 43,604 shares in the last quarter. Intech Investment Management LLC raised its holdings in Minerals Technologies by 30.5% in the first quarter. Intech Investment Management LLC now owns 18,504 shares of the basic materials company’s stock worth $1,176,000 after buying an additional 4,322 shares during the last quarter. Finally, Strs Ohio purchased a new position in Minerals Technologies in the first quarter worth about $70,000. 97.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MTX has been the topic of a number of recent analyst reports. Weiss Ratings cut shares of Minerals Technologies from a “hold (c+)” rating to a “sell (d+)” rating in a report on Monday, August 3rd. Wall Street Zen lowered shares of Minerals Technologies from a “strong-buy” rating to a “hold” rating in a report on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $90.00.

Minerals Technologies Trading Up 1.5%

Minerals Technologies stock opened at $71.91 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.43 and a quick ratio of 1.00. Minerals Technologies Inc. has a one year low of $53.94 and a one year high of $84.34. The stock has a market capitalization of $2.24 billion, a PE ratio of -33.14 and a beta of 1.14. The business’s fifty day moving average is $73.26 and its 200 day moving average is $73.41.

Minerals Technologies (NYSE:MTX) last issued its earnings results on Thursday, July 30th. The basic materials company reported $1.60 earnings per share for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.04). The business had revenue of $548.40 million during the quarter, compared to analysts’ expectations of $558.77 million. Minerals Technologies had a positive return on equity of 10.63% and a negative net margin of 3.13%.Minerals Technologies’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the firm posted $1.55 EPS. On average, sell-side analysts predict that Minerals Technologies Inc. will post 6.03 EPS for the current year.

Minerals Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 4th. Stockholders of record on Friday, August 14th were paid a $0.12 dividend. The ex-dividend date was Friday, August 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.7%. Minerals Technologies’s payout ratio is currently -22.12%.

Minerals Technologies Company Profile

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.