Qube Research & Technologies Ltd bought a new position in shares of Minerals Technologies Inc. (NYSE: MTX – Get a rating) during Q1, according to its most recent SEC filing. The institutional investor bought 25,951 shares of the basic materials company, valued at around $1,717,000. Qube Research & Technologies Ltd held approximately 0.08% of Minerals Technologies at the end of the most recent period.
Several other hedge funds and other institutional investors have also recently increased or reduced their stakes in the company. Mutual of America Capital Management LLC increased its position in Minerals Technologies by 0.5% during the fourth quarter. Mutual of America Capital Management LLC now owns 29,784 shares of the basic materials company worth $2,179,000 after buying 160 additional shares in the last quarter. Verdence Capital Advisors LLC increased its position in Minerals Technologies by 6.2% during the 1st quarter. Verdence Capital Advisors LLC now owns 3,532 shares of the basic materials company worth $234,000 after buying 207 additional shares in the last quarter. Comerica Bank increased its stake in shares of Minerals Technologies by 1.9% in the 1st quarter. Comerica Bank now owns 15,933 shares of the basic materials company valued at $1,039,000 after buying 295 additional shares last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its equity stake in Minerals Technologies by 22.4% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,866 shares of the basic materials company valued at $136,000 after buying 342 additional shares last quarter. Finally, Advisor Group Holdings Inc. increased its stake in shares of Minerals Technologies by 24.9% during the 4th quarter. Advisor Group Holdings Inc. now owns 2,075 shares of the basic materials company valued at $151,000 after buying 414 additional shares last quarter. 94.87% of the shares are currently held by institutional investors.
A Wall Street analyst gives his opinion
Separately, StockNews.com downgraded shares of Minerals Technologies from a “buy” rating to a “hold” rating in a Tuesday, June 28 report.
Mineral Technology Price Performance
NYSE: MTX opened at $65.37 on Friday. The company has a debt ratio of 0.60, a current ratio of 2.29 and a quick ratio of 1.56. The company has a market capitalization of $2.13 billion, a price-earnings ratio of 12.72 and a beta of 1.27. The company has a 50-day moving average price of $62.68 and a 200-day moving average price of $65.01. Minerals Technologies Inc. has a 1-year low of $57.52 and a 1-year high of $80.92.
Mineral Technologies (NYSE: MTX – Get a rating) last released its quarterly results on Thursday, July 28. The basic materials company reported EPS of $1.50 for the quarter, beating the consensus estimate of $1.46 by $0.04. The company posted revenue of $577.00 million in the quarter, versus analyst estimates of $533.65 million. Minerals Technologies posted a net margin of 8.46% and a return on equity of 11.44%. The company’s revenue increased by 26.5% compared to the same quarter last year. In the same quarter of the previous year, the company achieved EPS of $1.29. Equity research analysts expect Minerals Technologies Inc. to post EPS of 5.6 for the current year.
Minerals Technologies dividend announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, September 9. Investors of record on Friday, August 19 will receive a dividend of $0.05. This represents an annualized dividend of $0.20 and a yield of 0.31%. The ex-dividend date is Thursday, August 18. Minerals Technologies’ payout ratio is currently 3.89%.
About Minerals Technologies
Minerals Technologies Inc develops, produces and markets a variety of specialty mineral, mineral-based and synthetic mineral products, as well as support systems and services. The Company operates through three segments: Performance Materials, Specialty Minerals and Refractories. The Performance Materials segment provides bentonite and bentonite related products, as well as leonardite.
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