Mirae Asset Global Investments Co. Ltd. increased its holdings in Minerals Technologies Inc. (NYSE:MTX – Get Rating) by 4.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 206,582 shares of the basic materials company's stock after purchasing an additional 9,508 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Minerals Technologies were worth $13,665,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the business. Eaton Vance Management increased its holdings in shares of Minerals Technologies by 21.2% during the first quarter. Eaton Vance Management now owns 994,955 shares of the basic materials company's stock worth $65,816,000 after buying an additional 174,127 shares in the last quarter. Hancock Whitney Corp acquired a new stake in shares of Minerals Technologies during the first quarter worth approximately $11,155,000. American Century Companies Inc. increased its holdings in shares of Minerals Technologies by 12.4% during the first quarter. American Century Companies Inc. now owns 1,143,759 shares of the basic materials company's stock worth $75,660,000 after buying an additional 125,830 shares in the last quarter. D. E. Shaw & Co. Inc. increased its holdings in shares of Minerals Technologies by 179.4% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 124,616 shares of the basic materials company's stock worth $9,116,000 after buying an additional 80,017 shares in the last quarter. Finally, SG Capital Management LLC acquired a new stake in shares of Minerals Technologies during the fourth quarter worth approximately $4,402,000. Institutional investors and hedge funds own 96.13% of the company's stock.
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Analysts Set New Price Targets
Several analysts have recently commented on MTX shares. CL King cut shares of Minerals Technologies from a "buy" rating to a "neutral" rating in a research note on Tuesday, August 30th. StockNews.com cut shares of Minerals Technologies from a "buy" rating to a "hold" rating in a research note on Tuesday, June 28th.
Insider Buying and Selling at Minerals Technologies
In other Minerals Technologies news, CEO Douglas T. Dietrich sold 16,299 shares of the firm's stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $60.06, for a total value of $978,917.94. Following the transaction, the chief executive officer now directly owns 118,265 shares of the company's stock, valued at $7,102,995.90. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Dj Monagle III sold 19,673 shares of Minerals Technologies stock in a transaction on Monday, September 12th. The shares were sold at an average price of $63.36, for a total transaction of $1,246,481.28. Following the transaction, the insider now directly owns 72,402 shares of the company's stock, valued at $4,587,390.72. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Douglas T. Dietrich sold 16,299 shares of Minerals Technologies stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $60.06, for a total transaction of $978,917.94. Following the transaction, the chief executive officer now directly owns 118,265 shares in the company, valued at $7,102,995.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,067 shares of company stock valued at $3,404,799. 3.40% of the stock is currently owned by insiders.
Minerals Technologies Price Performance
MTX opened at $57.56 on Tuesday. Minerals Technologies Inc. has a one year low of $54.61 and a one year high of $79.03. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.29 and a quick ratio of 1.56. The company's 50 day simple moving average is $62.30 and its 200-day simple moving average is $63.42. The stock has a market capitalization of $1.88 billion, a P/E ratio of 11.20 and a beta of 1.28.
Minerals Technologies (NYSE:MTX – Get Rating) last announced its quarterly earnings data on Thursday, July 28th. The basic materials company reported $1.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.46 by $0.04. Minerals Technologies had a net margin of 8.46% and a return on equity of 11.44%. The firm had revenue of $577.00 million for the quarter, compared to analysts' expectations of $533.65 million. During the same period last year, the firm earned $1.29 earnings per share. The business's revenue for the quarter was up 26.5% on a year-over-year basis. Sell-side analysts anticipate that Minerals Technologies Inc. will post 5.52 earnings per share for the current fiscal year.
Minerals Technologies Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Friday, August 19th were paid a $0.05 dividend. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $0.20 dividend on an annualized basis and a yield of 0.35%. Minerals Technologies's payout ratio is presently 3.89%.
Minerals Technologies Company Profile
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Minerals Technologies Inc develops, produces, and markets various specialty mineral, mineral-based, and synthetic mineral products, and supporting systems and services. The company operates through three segments: Performance Materials, Specialty Minerals and Refractories. The Performance Materials segment supplies bentonite and bentonite-related products, as well as leonardite.
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