Mason Street Advisors LLC purchased a new stake in Minerals Technologies Inc. (NYSE:MTX) during the second quarter, Holdings Channel reports. The institutional investor purchased 15,882 shares of the company’s stock, valued at approximately $902,000.
Other large investors have also modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Minerals Technologies by 2.9% in the second quarter. Vanguard Group Inc. now owns 2,586,774 shares of the company’s stock valued at $146,929,000 after buying an additional 72,870 shares during the last quarter. BlackRock Fund Advisors increased its stake in shares of Minerals Technologies by 3.1% in the second quarter. BlackRock Fund Advisors now owns 1,770,459 shares of the company’s stock valued at $100,562,000 after buying an additional 53,295 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Minerals Technologies by 9.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,490,246 shares of the company’s stock valued at $84,644,000 after buying an additional 131,414 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Minerals Technologies by 23.2% in the first quarter. Wellington Management Group LLP now owns 1,319,174 shares of the company’s stock valued at $74,995,000 after buying an additional 248,125 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC increased its stake in shares of Minerals Technologies by 17.1% in the second quarter. Silvercrest Asset Management Group LLC now owns 1,168,194 shares of the company’s stock valued at $66,353,000 after buying an additional 170,346 shares during the last quarter. Hedge funds and other institutional investors own 95.57% of the company’s stock.
Minerals Technologies Inc. (NYSE:MTX) opened at 70.23 on Thursday. The company has a market cap of $2.45 billion, a PE ratio of 24.30 and a beta of 1.85. Minerals Technologies Inc. has a 52 week low of $35.89 and a 52 week high of $72.54. The company has a 50-day moving average price of $68.91 and a 200 day moving average price of $61.58.
Minerals Technologies (NYSE:MTX) last announced its quarterly earnings results on Thursday, August 4th. The company reported $1.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.04. The company had revenue of $427 million for the quarter, compared to analyst estimates of $437.20 million. Minerals Technologies had a net margin of 5.89% and a return on equity of 15.64%. Minerals Technologies’s revenue for the quarter was down 7.9% on a year-over-year basis. During the same quarter last year, the business earned $1.18 EPS. On average, equities research analysts forecast that Minerals Technologies Inc. will post $4.48 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 8th. Stockholders of record on Friday, August 26th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date was Wednesday, August 24th. Minerals Technologies’s dividend payout ratio is presently 6.94%.
Separately, Zacks Investment Research upgraded Minerals Technologies from a “hold” rating to a “buy” rating and set a $78.00 price target on the stock in a report on Wednesday, August 10th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $69.50.
In other news, VP Michael Cipolla sold 8,267 shares of the firm’s stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $69.21, for a total value of $572,159.07. Following the transaction, the vice president now owns 27,181 shares of the company’s stock, valued at approximately $1,881,197.01. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jonathan J. Hastings sold 7,606 shares of the firm’s stock in a transaction on Wednesday, August 31st. The shares were sold at an average price of $70.85, for a total transaction of $538,885.10. Following the completion of the transaction, the insider now directly owns 18,565 shares in the company, valued at approximately $1,315,330.25. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by insiders.
About Minerals Technologies
Minerals Technologies Inc is a resource-and technology-based company that develops, produces and markets worldwide a range of specialty mineral, mineral-based and synthetic mineral products and related systems and services. It has five segments. The Specialty Minerals, Performance Materials, and Construction Technologies segments produce and sell products and technologies based primarily upon the mineral products calcium carbonate, bentonite, talc, chromite and leonardite.
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