Sei Investments Co. decreased its position in shares of Minerals Technologies Inc (NYSE:MTX) by 11.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,532 shares of the basic materials company’s stock after selling 3,237 shares during the period. Sei Investments Co. owned about 0.07% of Minerals Technologies worth $1,924,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Oakbrook Investments LLC acquired a new stake in shares of Minerals Technologies during the second quarter worth approximately $203,000. Zeke Capital Advisors LLC acquired a new stake in shares of Minerals Technologies in the second quarter valued at approximately $204,000. Evergreen Capital Management LLC acquired a new stake in shares of Minerals Technologies in the first quarter valued at approximately $220,000. Xact Kapitalforvaltning AB increased its holdings in shares of Minerals Technologies by 40.1% in the first quarter. Xact Kapitalforvaltning AB now owns 6,637 shares of the basic materials company’s stock valued at $444,000 after purchasing an additional 1,900 shares in the last quarter. Finally, Northwestern Mutual Investment Management Company LLC increased its holdings in shares of Minerals Technologies by 56.5% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 7,251 shares of the basic materials company’s stock valued at $485,000 after purchasing an additional 2,619 shares in the last quarter. 94.50% of the stock is owned by institutional investors.
In related news, insider Douglas W. Mayger sold 9,198 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now owns 46,887 shares of the company’s stock, valued at $3,531,059.97. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John J. Carmola purchased 800 shares of the stock in a transaction that occurred on Wednesday, August 8th. The stock was bought at an average cost of $68.00 per share, with a total value of $54,400.00. Following the acquisition, the director now owns 1,200 shares of the company’s stock, valued at $81,600. The disclosure for this purchase can be found here. Company insiders own 2.40% of the company’s stock.
A number of analysts recently weighed in on MTX shares. Zacks Investment Research lowered shares of Minerals Technologies from a “hold” rating to a “sell” rating in a report on Saturday, August 25th. ValuEngine lowered shares of Minerals Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, August 8th.
Shares of Minerals Technologies stock opened at $66.30 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.08 and a quick ratio of 1.53. The company has a market capitalization of $2.36 billion, a P/E ratio of 14.38, a P/E/G ratio of 1.67 and a beta of 2.19. Minerals Technologies Inc has a fifty-two week low of $62.70 and a fifty-two week high of $80.80.
Minerals Technologies (NYSE:MTX) last issued its quarterly earnings results on Thursday, August 2nd. The basic materials company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.02. The business had revenue of $464.70 million during the quarter, compared to analyst estimates of $442.45 million. Minerals Technologies had a net margin of 11.50% and a return on equity of 13.02%. Minerals Technologies’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.23 earnings per share. equities analysts predict that Minerals Technologies Inc will post 4.89 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 6th. Investors of record on Friday, August 24th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date was Thursday, August 23rd. Minerals Technologies’s dividend payout ratio is currently 4.36%.
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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