Vaughan Nelson Investment Management L.P. raised its stake in shares of Minerals Technologies Inc (NYSE:MTX) by 0.8% during the 1st quarter, Holdings Channel reports. The firm owned 562,412 shares of the basic materials company’s stock after purchasing an additional 4,212 shares during the quarter. Vaughan Nelson Investment Management L.P.’s holdings in Minerals Technologies were worth $37,653,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently made changes to their positions in the business. BlackRock Inc. grew its holdings in Minerals Technologies by 1.1% during the first quarter. BlackRock Inc. now owns 3,723,971 shares of the basic materials company’s stock valued at $249,320,000 after purchasing an additional 40,447 shares during the last quarter. Royce & Associates LP grew its holdings in Minerals Technologies by 12.1% during the fourth quarter. Royce & Associates LP now owns 1,263,881 shares of the basic materials company’s stock valued at $87,018,000 after purchasing an additional 136,595 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Minerals Technologies by 24,599.7% during the first quarter. Victory Capital Management Inc. now owns 929,942 shares of the basic materials company’s stock valued at $62,260,000 after purchasing an additional 926,177 shares during the last quarter. Franklin Resources Inc. grew its holdings in Minerals Technologies by 84.0% during the fourth quarter. Franklin Resources Inc. now owns 733,719 shares of the basic materials company’s stock valued at $50,517,000 after purchasing an additional 334,900 shares during the last quarter. Finally, Boston Partners grew its holdings in Minerals Technologies by 13.5% during the first quarter. Boston Partners now owns 648,064 shares of the basic materials company’s stock valued at $43,388,000 after purchasing an additional 77,290 shares during the last quarter. Institutional investors own 94.90% of the company’s stock.
MTX has been the topic of several analyst reports. ValuEngine upgraded Minerals Technologies from a “hold” rating to a “buy” rating in a report on Thursday, March 22nd. Zacks Investment Research upgraded shares of Minerals Technologies from a “hold” rating to a “buy” rating and set a $82.00 price objective on the stock in a research note on Tuesday, April 24th.
Shares of Minerals Technologies opened at $72.25 on Thursday, Marketbeat reports. The firm has a market capitalization of $2.58 billion, a PE ratio of 15.74, a P/E/G ratio of 1.80 and a beta of 2.27. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.22 and a current ratio of 2.96. Minerals Technologies Inc has a 1 year low of $62.55 and a 1 year high of $77.15.
Minerals Technologies (NYSE:MTX) last announced its quarterly earnings data on Thursday, May 3rd. The basic materials company reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.01. The business had revenue of $431.30 million for the quarter, compared to the consensus estimate of $420.00 million. Minerals Technologies had a net margin of 11.77% and a return on equity of 13.36%. Minerals Technologies’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the company posted $0.97 earnings per share. sell-side analysts anticipate that Minerals Technologies Inc will post 4.93 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 14th. Stockholders of record on Thursday, May 31st will be paid a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, May 30th. This represents a $0.20 annualized dividend and a dividend yield of 0.28%. Minerals Technologies’s payout ratio is 4.36%.
In related news, Director Carolyn K. Pittman acquired 400 shares of the stock in a transaction dated Thursday, May 17th. The shares were acquired at an average price of $72.65 per share, for a total transaction of $29,060.00. Following the completion of the purchase, the director now owns 400 shares in the company, valued at approximately $29,060. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.40% of the company’s stock.
About Minerals Technologies
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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