2,850 Shares in Minerals Technologies Inc. (NYSE:MTX) Bought by Morse Asset Management Inc

Morse Asset Management Inc acquired a new stake in shares of Minerals Technologies Inc. (NYSE:MTX) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,850 shares of the basic materials company’s stock, valued at approximately $215,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Parallel Advisors LLC boosted its position in shares of Minerals Technologies by 97.9% during the 4th quarter. Parallel Advisors LLC now owns 556 shares of the basic materials company’s stock valued at $40,000 after acquiring an additional 275 shares during the last quarter. Fidelis Capital Partners LLC bought a new stake in Minerals Technologies during the first quarter valued at approximately $77,000. International Assets Investment Management LLC lifted its position in Minerals Technologies by 1,266.0% during the fourth quarter. International Assets Investment Management LLC now owns 1,284 shares of the basic materials company’s stock valued at $92,000 after purchasing an additional 1,190 shares during the last quarter. Lazard Asset Management LLC grew its stake in Minerals Technologies by 374.9% in the 1st quarter. Lazard Asset Management LLC now owns 1,838 shares of the basic materials company’s stock worth $138,000 after buying an additional 1,451 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Minerals Technologies in the 4th quarter worth $158,000. 97.29% of the stock is currently owned by hedge funds and other institutional investors.

Minerals Technologies Price Performance

Shares of NYSE MTX traded down $2.87 during mid-day trading on Monday, reaching $77.63. 150,298 shares of the company were exchanged, compared to its average volume of 163,403. Minerals Technologies Inc. has a 52 week low of $48.61 and a 52 week high of $90.29. The company’s 50 day moving average price is $84.26 and its 200 day moving average price is $76.50. The stock has a market capitalization of $2.50 billion, a PE ratio of 27.85 and a beta of 1.32. The company has a quick ratio of 1.72, a current ratio of 2.46 and a debt-to-equity ratio of 0.53.

Minerals Technologies (NYSE:MTX) last posted its quarterly earnings data on Thursday, July 25th. The basic materials company reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.05. The firm had revenue of $541.20 million during the quarter, compared to analysts’ expectations of $561.60 million. Minerals Technologies had a return on equity of 11.46% and a net margin of 4.05%. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.31 EPS. Sell-side analysts forecast that Minerals Technologies Inc. will post 6.29 earnings per share for the current fiscal year.

Minerals Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Friday, August 16th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend is Friday, August 16th. Minerals Technologies’s dividend payout ratio (DPR) is presently 13.84%.

Insider Transactions at Minerals Technologies

In other Minerals Technologies news, Director Kristina M. Johnson bought 400 shares of Minerals Technologies stock in a transaction that occurred on Thursday, May 16th. The shares were bought at an average price of $80.92 per share, with a total value of $32,368.00. Following the acquisition, the director now owns 400 shares in the company, valued at $32,368. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Kristina M. Johnson bought 400 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was bought at an average cost of $80.92 per share, for a total transaction of $32,368.00. Following the acquisition, the director now directly owns 400 shares of the company’s stock, valued at approximately $32,368. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Dj Monagle III sold 14,229 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $83.63, for a total value of $1,189,971.27. Following the transaction, the insider now owns 79,731 shares in the company, valued at $6,667,903.53. The disclosure for this sale can be found here. In the last ninety days, insiders sold 57,459 shares of company stock worth $4,842,108. 3.50% of the stock is currently owned by insiders.

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.