Northwestern Mutual Investment Management Company LLC increased its position in Minerals Technologies Inc (NYSE:MTX) by 56.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 7,251 shares of the basic materials company’s stock after purchasing an additional 2,619 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Minerals Technologies were worth $485,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of Minerals Technologies by 1.1% in the 1st 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. Dimensional Fund Advisors LP lifted its holdings in shares of Minerals Technologies by 2.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,495,724 shares of the basic materials company’s stock valued at $100,139,000 after purchasing an additional 32,417 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Minerals Technologies by 24,599.7% in the 1st 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. lifted its holdings in shares of Minerals Technologies by 17.1% in the 1st quarter. Franklin Resources Inc. now owns 859,237 shares of the basic materials company’s stock valued at $57,526,000 after purchasing an additional 125,518 shares during the last quarter. Finally, Boston Partners lifted its holdings in shares of Minerals Technologies by 13.5% in the 1st 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. 94.39% of the stock is owned by institutional investors and hedge funds.
MTX has been the subject of several research reports. ValuEngine raised Minerals Technologies from a “hold” rating to a “buy” rating in a report on Thursday, March 22nd. Zacks Investment Research raised Minerals Technologies from a “hold” rating to a “buy” rating and set a $82.00 target price for the company in a report on Tuesday, April 24th.
In related news, Director Carolyn K. Pittman purchased 400 shares of the company’s stock in a transaction that occurred on Thursday, May 17th. The shares were purchased at an average price of $72.65 per share, for a total transaction of $29,060.00. Following the transaction, the director now directly owns 400 shares of the company’s stock, valued at approximately $29,060. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Douglas W. Mayger sold 9,198 shares of the business’s stock in a transaction dated Tuesday, June 12th. The shares were sold at an average price of $75.31, for a total value of $692,701.38. Following the completion of the transaction, the insider now owns 46,887 shares in the company, valued at approximately $3,531,059.97. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.
Minerals Technologies opened at $74.00 on Tuesday, Marketbeat.com reports. Minerals Technologies Inc has a fifty-two week low of $62.55 and a fifty-two week high of $77.15. The company has a quick ratio of 2.22, a current ratio of 2.96 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $2.66 billion, a PE ratio of 16.20, a PEG ratio of 1.86 and a beta of 2.27.
Minerals Technologies (NYSE:MTX) last issued its quarterly earnings results on Thursday, May 3rd. The basic materials company reported $1.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.01. The firm had revenue of $431.30 million for the quarter, compared to analysts’ expectations of $420.00 million. Minerals Technologies had a return on equity of 13.36% and a net margin of 11.77%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.97 EPS. equities research analysts expect that Minerals Technologies Inc will post 4.93 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, June 14th. Investors of record on Thursday, May 31st were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.27%. The ex-dividend date was Wednesday, May 30th. Minerals Technologies’s dividend payout ratio (DPR) is presently 4.36%.
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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