Teacher Retirement System of Texas Acquires 14,253 Shares of Minerals Technologies Inc. (NYSE:MTX)

Teacher Retirement System of Texas raised its stake in Minerals Technologies Inc. (NYSE:MTX) by 42.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,929 shares of the basic materials company’s stock after acquiring an additional 14,253 shares during the quarter. Teacher Retirement System of Texas’ holdings in Minerals Technologies were worth $3,653,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC lifted its stake in Minerals Technologies by 181.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 506 shares of the basic materials company’s stock valued at $38,000 after purchasing an additional 326 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Minerals Technologies by 21.4% in the 4th quarter. Blue Trust Inc. now owns 1,009 shares of the basic materials company’s stock valued at $78,000 after acquiring an additional 178 shares during the last quarter. Venturi Wealth Management LLC acquired a new stake in shares of Minerals Technologies during the 4th quarter valued at $78,000. KBC Group NV grew its position in Minerals Technologies by 43.9% during the 4th quarter. KBC Group NV now owns 1,478 shares of the basic materials company’s stock worth $113,000 after acquiring an additional 451 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in Minerals Technologies in the 4th quarter worth about $145,000. 97.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. StockNews.com lowered Minerals Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, March 19th. Truist Financial cut their target price on shares of Minerals Technologies from $103.00 to $101.00 and set a “buy” rating on the stock in a research report on Monday, February 10th.

Minerals Technologies Stock Performance

Shares of Minerals Technologies stock opened at $66.20 on Tuesday. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of 12.78 and a beta of 1.28. Minerals Technologies Inc. has a twelve month low of $64.30 and a twelve month high of $90.30. The company’s fifty day moving average is $71.78 and its 200 day moving average is $75.34. The company has a quick ratio of 1.98, a current ratio of 2.84 and a debt-to-equity ratio of 0.54.

Minerals Technologies (NYSE:MTX) last released its quarterly earnings results on Thursday, February 6th. The basic materials company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.11. Minerals Technologies had a return on equity of 11.49% and a net margin of 7.89%. Sell-side analysts forecast that Minerals Technologies Inc. will post 6.62 EPS for the current year.

Minerals Technologies Dividend Announcement

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

About Minerals Technologies

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.