Minerals Technologies Inc. (NYSE:MTX) Shares Sold by Inceptionr LLC

Inceptionr LLC lowered its holdings in Minerals Technologies Inc. (NYSE:MTX) by 66.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,066 shares of the basic materials company’s stock after selling 6,119 shares during the quarter. Inceptionr LLC’s holdings in Minerals Technologies were worth $234,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Raymond James Financial Inc. acquired a new stake in shares of Minerals Technologies in the fourth quarter worth $10,797,000. Proficio Capital Partners LLC acquired a new stake in shares of Minerals Technologies in the fourth quarter worth $2,451,000. M&T Bank Corp increased its stake in shares of Minerals Technologies by 13.2% in the fourth quarter. M&T Bank Corp now owns 37,770 shares of the basic materials company’s stock worth $2,878,000 after acquiring an additional 4,402 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Minerals Technologies by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 555,157 shares of the basic materials company’s stock worth $42,309,000 after acquiring an additional 2,647 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake in shares of Minerals Technologies by 181.1% in the fourth 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 during the period. Institutional investors and hedge funds own 97.29% of the company’s stock.

Minerals Technologies Stock Performance

Shares of NYSE MTX opened at $66.81 on Tuesday. The company’s fifty day moving average price is $73.22 and its 200 day moving average price is $75.94. Minerals Technologies Inc. has a 1 year low of $66.33 and a 1 year high of $90.29. The company has a market capitalization of $2.13 billion, a PE ratio of 12.90 and a beta of 1.28. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.98 and a current ratio of 2.84.

Minerals Technologies (NYSE:MTX) last announced its quarterly earnings results on Thursday, February 6th. The basic materials company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.11. Minerals Technologies had a net margin of 7.89% and a return on equity of 11.49%. On average, research analysts predict that Minerals Technologies Inc. will post 6.62 earnings per share for the current year.

Minerals Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 14th were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend was Friday, February 14th. Minerals Technologies’s payout ratio is 8.49%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. StockNews.com downgraded shares of Minerals Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Truist Financial lowered their price target on shares of Minerals Technologies from $103.00 to $101.00 and set a “buy” rating on the stock in a report on Monday, February 10th.

Minerals Technologies Profile

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.