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Ellevest Inc. Has $30,000 Position in Minerals Technologies Inc. (NYSE:MTX)

Defense World ·  10/03/2022 16:51

Ellevest Inc. raised its stake in shares of Minerals Technologies Inc. (NYSE:MTX – Get Rating) by 74.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 488 shares of the basic materials company's stock after buying an additional 209 shares during the quarter. Ellevest Inc.'s holdings in Minerals Technologies were worth $30,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of MTX. Bank of America Corp DE boosted its position in Minerals Technologies by 8.0% during the 1st quarter. Bank of America Corp DE now owns 408,930 shares of the basic materials company's stock worth $27,049,000 after acquiring an additional 30,406 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Minerals Technologies by 4.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 206,582 shares of the basic materials company's stock worth $13,665,000 after acquiring an additional 9,508 shares during the last quarter. Keeley Teton Advisors LLC boosted its position in Minerals Technologies by 7.6% during the 1st quarter. Keeley Teton Advisors LLC now owns 38,087 shares of the basic materials company's stock worth $2,519,000 after acquiring an additional 2,700 shares during the last quarter. Gamco Investors INC. ET AL boosted its position in Minerals Technologies by 1.9% during the 1st quarter. Gamco Investors INC. ET AL now owns 210,400 shares of the basic materials company's stock worth $13,918,000 after acquiring an additional 4,000 shares during the last quarter. Finally, Jane Street Group LLC boosted its position in Minerals Technologies by 36.6% during the 1st quarter. Jane Street Group LLC now owns 5,458 shares of the basic materials company's stock worth $361,000 after acquiring an additional 1,463 shares during the last quarter. 96.13% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

MTX has been the topic of a number of research analyst reports. StockNews.com cut Minerals Technologies from a "buy" rating to a "hold" rating in a research note on Tuesday, June 28th. CL King cut Minerals Technologies from a "buy" rating to a "neutral" rating in a research note on Tuesday, August 30th.

Minerals Technologies Stock Performance

Shares of NYSE MTX opened at $49.41 on Monday. 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 stock's fifty day moving average price is $60.47 and its two-hundred day moving average price is $62.58. Minerals Technologies Inc. has a one year low of $49.38 and a one year high of $79.03. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of 9.61 and a beta of 1.28.

Minerals Technologies (NYSE:MTX – Get Rating) last released its earnings results on Thursday, July 28th. The basic materials company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.04. The company had revenue of $577.00 million for the quarter, compared to analyst estimates of $533.65 million. Minerals Technologies had a return on equity of 11.44% and a net margin of 8.46%. Minerals Technologies's quarterly revenue was up 26.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.29 EPS. On average, equities analysts forecast that Minerals Technologies Inc. will post 5.52 EPS for the current year.

Minerals Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Friday, August 19th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.40%. The ex-dividend date was Thursday, August 18th. Minerals Technologies's dividend payout ratio (DPR) is currently 3.89%.

Insider Activity at Minerals Technologies

In related news, insider Dj Monagle III sold 19,673 shares of the firm's stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $63.36, for a total value of $1,246,481.28. Following the sale, the insider now directly owns 72,402 shares of the company's stock, valued at $4,587,390.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Dj Monagle III sold 19,673 shares of the firm's stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $63.36, for a total value of $1,246,481.28. Following the sale, the insider now directly owns 72,402 shares of the company's stock, valued at $4,587,390.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Douglas T. Dietrich sold 16,299 shares of the firm's stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $60.06, for a total value of $978,917.94. Following the completion of the sale, 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. Insiders have sold 54,067 shares of company stock valued at $3,404,799 over the last ninety days. 3.20% of the stock is owned by corporate insiders.

About Minerals Technologies

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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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