First Eagle Investment Management LLC Sells 29,900 Shares of Minerals Technologies Inc. (NYSE:MTX)

First Eagle Investment Management LLC lessened its holdings in Minerals Technologies Inc. (NYSE:MTX) by 62.9% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,631 shares of the basic materials company’s stock after selling 29,900 shares during the period. First Eagle Investment Management LLC owned 0.06% of Minerals Technologies worth $1,344,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC raised its holdings in shares of 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 acquiring an additional 326 shares in the last quarter. Blue Trust Inc. raised its stake in Minerals Technologies by 21.4% in the fourth quarter. Blue Trust Inc. now owns 1,009 shares of the basic materials company’s stock valued at $78,000 after purchasing an additional 178 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in Minerals Technologies during the fourth quarter valued at approximately $78,000. KBC Group NV grew its stake in Minerals Technologies by 43.9% in the 4th quarter. KBC Group NV now owns 1,478 shares of the basic materials company’s stock worth $113,000 after buying an additional 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 $145,000. Institutional investors own 97.29% of the company’s stock.

Minerals Technologies Trading Up 1.4 %

MTX stock opened at $67.47 on Monday. The company has a market capitalization of $2.15 billion, a PE ratio of 13.02 and a beta of 1.28. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.98 and a current ratio of 2.84. Minerals Technologies Inc. has a one year low of $65.64 and a one year high of $90.29. The company’s 50 day moving average price is $72.53 and its two-hundred day moving average price is $75.69.

Minerals Technologies (NYSE:MTX) last issued its earnings results on Thursday, February 6th. The basic materials company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.11. Minerals Technologies had a net margin of 7.89% and a return on equity of 11.49%. As a group, analysts predict that Minerals Technologies Inc. will post 6.62 earnings per share for the current fiscal year.

Minerals Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 14th were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend was Friday, February 14th. Minerals Technologies’s dividend payout ratio is presently 8.49%.

Analysts Set New Price Targets

MTX has been the subject of several research reports. Truist Financial cut their target price on shares of Minerals Technologies from $103.00 to $101.00 and set a “buy” rating for the company in a research report on Monday, February 10th. StockNews.com upgraded Minerals Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, March 11th.

Minerals Technologies Company 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.