GAMMA Investing LLC increased its position in shares of Minerals Technologies Inc. (NYSE:MTX - Free Report) by 15,381.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,159 shares of the basic materials company's stock after acquiring an additional 13,074 shares during the period. GAMMA Investing LLC's holdings in Minerals Technologies were worth $837,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Smartleaf Asset Management LLC lifted its stake in Minerals Technologies by 181.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 506 shares of the basic materials company's stock worth $38,000 after acquiring an additional 326 shares in the last quarter. Quarry LP increased its holdings in Minerals Technologies by 536.5% during the 4th quarter. Quarry LP now owns 732 shares of the basic materials company's stock worth $56,000 after purchasing an additional 617 shares during the period. Venturi Wealth Management LLC purchased a new stake in Minerals Technologies during the 4th quarter worth about $78,000. Vestcor Inc purchased a new stake in Minerals Technologies during the 4th quarter worth about $185,000. Finally, Inspire Advisors LLC purchased a new stake in Minerals Technologies during the 4th quarter worth about $207,000. Institutional investors and hedge funds own 97.29% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on MTX shares. Wall Street Zen downgraded Minerals Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, April 9th. Truist Financial cut their price target on Minerals Technologies from $92.00 to $80.00 and set a "buy" rating on the stock in a report on Monday, April 28th.
View Our Latest Analysis on Minerals Technologies
Minerals Technologies Stock Down 1.1%
NYSE MTX traded down $0.61 during trading hours on Friday, hitting $53.19. 635,675 shares of the company were exchanged, compared to its average volume of 191,419. Minerals Technologies Inc. has a 52-week low of $49.54 and a 52-week high of $90.30. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of -69.07 and a beta of 1.22. The company has a quick ratio of 1.31, a current ratio of 1.89 and a debt-to-equity ratio of 0.59. The company has a 50 day moving average of $56.33 and a two-hundred day moving average of $66.01.
Minerals Technologies (NYSE:MTX - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The basic materials company reported $1.14 EPS for the quarter, missing analysts' consensus estimates of $1.16 by ($0.02). Minerals Technologies had a negative net margin of 1.14% and a positive return on equity of 10.90%. The business had revenue of $491.80 million during the quarter, compared to analysts' expectations of $502.03 million. During the same quarter in the previous year, the company posted $1.49 EPS. The company's revenue was down 8.0% compared to the same quarter last year. Equities research analysts anticipate that Minerals Technologies Inc. will post 6.62 earnings per share for the current year.
Minerals Technologies Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 30th were issued a $0.11 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.83%. Minerals Technologies's payout ratio is currently -57.14%.
Insider Activity
In other news, Director Kristina M. Johnson purchased 1,000 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The shares were purchased at an average price of $53.79 per share, for a total transaction of $53,790.00. Following the purchase, the director now directly owns 1,400 shares of the company's stock, valued at $75,306. This represents a 250.00% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have acquired 2,370 shares of company stock worth $124,255. 3.30% of the stock is currently owned by insiders.
Minerals Technologies Profile
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Free Report)
Minerals Technologies Inc develops, produces, and markets various mineral, mineral-based, and related systems and services. The company operates through two segments, Consumer & Specialties, and Engineered Solutions segments. The Consumer & Specialties segment offers household and personal care products, such as pet litter, personal care, fabric care, edible oil and other fluid purification, animal health, and agricultural products; and specialty additives products, including precipitated calcium carbonate and ground calcium carbonate products that are used in the paper, paperboard, and fiber based packaging industries, as well as automotive, construction, and table and food applications.
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