Strs Ohio Buys 8,300 Shares of Minerals Technologies Inc. $MTX

Strs Ohio grew its stake in Minerals Technologies Inc. (NYSE:MTX) by 184.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,800 shares of the basic materials company’s stock after purchasing an additional 8,300 shares during the period. Strs Ohio’s holdings in Minerals Technologies were worth $908,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its position in Minerals Technologies by 626.8% in the second quarter. EverSource Wealth Advisors LLC now owns 596 shares of the basic materials company’s stock valued at $33,000 after buying an additional 514 shares in the last quarter. Torren Management LLC acquired a new position in shares of Minerals Technologies during the fourth quarter worth $50,000. Danske Bank A S bought a new position in shares of Minerals Technologies in the 3rd quarter valued at $56,000. Smartleaf Asset Management LLC boosted its holdings in shares of Minerals Technologies by 136.2% during the 2nd quarter. Smartleaf Asset Management LLC now owns 1,278 shares of the basic materials company’s stock valued at $71,000 after acquiring an additional 737 shares in the last quarter. Finally, First Horizon Corp boosted its holdings in shares of Minerals Technologies by 120.9% during the 4th quarter. First Horizon Corp now owns 1,228 shares of the basic materials company’s stock valued at $75,000 after acquiring an additional 672 shares in the last quarter. 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 a number of recent research reports. Wall Street Zen raised Minerals Technologies from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 4th. Weiss Ratings upgraded Minerals Technologies from a “sell (d+)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Truist Financial upped their price objective on Minerals Technologies from $89.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Finally, Seaport Research Partners reiterated a “buy” rating on shares of Minerals Technologies in a report on Monday, May 4th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $90.00.

Insider Activity at Minerals Technologies

In related news, VP Timothy Jordan sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $80.27, for a total value of $481,620.00. Following the sale, the vice president directly owned 1,279 shares in the company, valued at $102,665.33. This represents a 82.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.70% of the stock is currently owned by corporate insiders.

Minerals Technologies Stock Performance

NYSE MTX opened at $72.18 on Thursday. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of 13.96 and a beta of 1.15. Minerals Technologies Inc. has a twelve month low of $53.94 and a twelve month high of $84.34. The stock has a fifty day simple moving average of $76.77 and a 200 day simple moving average of $71.45. The company has a quick ratio of 1.47, a current ratio of 2.13 and a debt-to-equity ratio of 0.54.

Minerals Technologies (NYSE:MTX) last announced its earnings results on Thursday, April 30th. The basic materials company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.26 by $0.12. Minerals Technologies had a return on equity of 10.40% and a net margin of 7.60%.The firm had revenue of $546.90 million for the quarter, compared to the consensus estimate of $516.39 million. During the same period in the previous year, the business earned $1.14 EPS. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. Sell-side analysts expect that Minerals Technologies Inc. will post 6.33 EPS for the current year.

Minerals Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Tuesday, June 2nd were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, June 2nd. Minerals Technologies’s payout ratio is currently 9.28%.

Minerals Technologies 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.