Summit Global Investments Reduces Position in Minerals Technologies Inc. (NYSE:MTX)

Summit Global Investments trimmed its stake in Minerals Technologies Inc. (NYSE:MTX) by 43.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,473 shares of the basic materials company’s stock after selling 4,963 shares during the period. Summit Global Investments’ holdings in Minerals Technologies were worth $493,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Smartleaf Asset Management LLC grew its holdings in Minerals Technologies by 181.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 506 shares of the basic materials company’s stock valued at $38,000 after purchasing an additional 326 shares during the period. Blue Trust Inc. grew its stake in shares of Minerals Technologies by 21.4% during the 4th quarter. Blue Trust Inc. now owns 1,009 shares of the basic materials company’s stock valued at $78,000 after acquiring an additional 178 shares during the period. Venturi Wealth Management LLC purchased a new stake in Minerals Technologies in the 4th quarter worth approximately $78,000. KBC Group NV increased its holdings 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 acquiring an additional 451 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in Minerals Technologies during the 4th quarter worth approximately $145,000. 97.29% of the stock is owned by institutional investors.

Minerals Technologies Stock Up 1.6 %

Shares of MTX opened at $66.20 on Tuesday. Minerals Technologies Inc. has a 12-month low of $64.30 and a 12-month high of $90.30. The company has a current ratio of 2.84, a quick ratio of 1.98 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $2.11 billion, a PE ratio of 12.78 and a beta of 1.28. The business’s 50 day moving average is $71.78 and its 200 day moving average is $75.34.

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

Minerals Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 14th were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.66%. The ex-dividend date was Friday, February 14th. Minerals Technologies’s dividend payout ratio (DPR) is presently 8.49%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Truist Financial reduced their price objective on shares of Minerals Technologies from $103.00 to $101.00 and set a “buy” rating for the company in a research note on Monday, February 10th. StockNews.com lowered Minerals Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, March 19th.

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.