BlueCrest Capital Management Ltd bought a new position in Minerals Technologies Inc. (NYSE:MTX) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 8,072 shares of the basic materials company’s stock, valued at approximately $556,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of MTX. Public Employees Retirement Association of Colorado acquired a new stake in Minerals Technologies in the fourth quarter worth $152,000. Global X Management Co. LLC grew its stake in shares of Minerals Technologies by 75.9% in the fourth quarter. Global X Management Co. LLC now owns 2,434 shares of the basic materials company’s stock worth $168,000 after purchasing an additional 1,050 shares in the last quarter. Boothbay Fund Management LLC bought a new position in shares of Minerals Technologies in the third quarter worth $218,000. Victory Capital Management Inc. grew its stake in shares of Minerals Technologies by 67.4% in the third quarter. Victory Capital Management Inc. now owns 3,439 shares of the basic materials company’s stock worth $243,000 after purchasing an additional 1,385 shares in the last quarter. Finally, Alambic Investment Management L.P. bought a new position in shares of Minerals Technologies in the fourth quarter worth $262,000. 96.01% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Joseph C. Breunig bought 800 shares of Minerals Technologies stock in a transaction dated Wednesday, February 7th. The stock was acquired at an average cost of $69.36 per share, with a total value of $55,488.00. Following the completion of the acquisition, the director now directly owns 1,200 shares in the company, valued at approximately $83,232. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.20% of the company’s stock.
MTX has been the subject of several recent analyst reports. ValuEngine cut Minerals Technologies from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Zacks Investment Research raised Minerals Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, January 18th.
MTX stock traded down $1.90 during trading hours on Friday, hitting $66.55. 57,820 shares of the stock traded hands, compared to its average volume of 120,653. Minerals Technologies Inc. has a one year low of $62.55 and a one year high of $80.50. The stock has a market capitalization of $2,358.20, a P/E ratio of 14.50 and a beta of 2.27. The company has a quick ratio of 2.04, a current ratio of 2.75 and a debt-to-equity ratio of 0.75.
Minerals Technologies (NYSE:MTX) last announced its earnings results on Thursday, February 1st. The basic materials company reported $1.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.01. Minerals Technologies had a return on equity of 13.89% and a net margin of 11.64%. The business had revenue of $432.10 million during the quarter, compared to analysts’ expectations of $411.95 million. During the same quarter last year, the business posted $1.08 earnings per share. The company’s quarterly revenue was up 7.7% on a year-over-year basis. sell-side analysts anticipate that Minerals Technologies Inc. will post 4.95 earnings per share for the current year.
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Minerals Technologies Profile
Minerals Technologies Inc develops, produces, and markets various specialty mineral, mineral-based, and synthetic mineral products, and supporting systems and services worldwide. The company's Specialty Minerals segment produces and sells precipitated calcium carbonate and quicklime; and provides natural mineral products comprising limestone and talc.
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