Minerals Technologies Inc. $MTX Shares Bought by Sei Investments Co.

Sei Investments Co. boosted its holdings in shares of Minerals Technologies Inc. (NYSE:MTX) by 39.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 40,049 shares of the basic materials company’s stock after buying an additional 11,427 shares during the quarter. Sei Investments Co. owned 0.13% of Minerals Technologies worth $2,840,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. State Street Corp increased its stake in shares of Minerals Technologies by 0.5% in the fourth quarter. State Street Corp now owns 1,221,398 shares of the basic materials company’s stock worth $74,444,000 after acquiring an additional 6,458 shares during the period. Geode Capital Management LLC lifted its position in Minerals Technologies by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 897,850 shares of the basic materials company’s stock valued at $54,732,000 after purchasing an additional 4,693 shares during the period. Brandes Investment Partners LP boosted its holdings in Minerals Technologies by 22.9% in the fourth quarter. Brandes Investment Partners LP now owns 819,908 shares of the basic materials company’s stock valued at $49,973,000 after purchasing an additional 152,950 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Minerals Technologies by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 597,297 shares of the basic materials company’s stock valued at $36,405,000 after purchasing an additional 15,467 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in Minerals Technologies by 26.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 496,215 shares of the basic materials company’s stock worth $27,327,000 after purchasing an additional 103,853 shares during the period. 97.29% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Minerals Technologies

In other Minerals Technologies news, VP Timothy Jordan sold 6,000 shares of the firm’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 of the company’s stock, valued at approximately $102,665.33. This trade represents a 82.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MTX. Seaport Research Partners reiterated a “buy” rating on shares of Minerals Technologies in a research note on Monday, May 4th. Truist Financial raised their target price on Minerals Technologies from $89.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Weiss Ratings cut Minerals Technologies from a “hold (c+)” rating to a “sell (d+)” rating in a research report on Monday. Finally, Wall Street Zen downgraded Minerals Technologies from a “strong-buy” rating to a “hold” rating in a report on Saturday. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Minerals Technologies currently has an average rating of “Hold” and a consensus price target of $90.00.

Minerals Technologies Stock Down 0.2%

MTX opened at $75.15 on Friday. The company has a fifty day moving average of $75.40 and a two-hundred day moving average of $73.06. The stock has a market capitalization of $2.34 billion, a price-to-earnings ratio of -34.63 and a beta of 1.14. Minerals Technologies Inc. has a fifty-two week low of $53.94 and a fifty-two week high of $84.34. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.00 and a current ratio of 1.43.

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

Minerals Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Friday, August 14th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, August 14th. This represents a $0.48 dividend on an annualized basis and a yield of 0.6%. Minerals Technologies’s dividend payout ratio is currently -22.12%.

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.