Legato Capital Management LLC Invests $1.73 Million in Minerals Technologies Inc. (NYSE:MTX)

Legato Capital Management LLC bought a new position in Minerals Technologies Inc. (NYSE:MTX) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 22,638 shares of the basic materials company’s stock, valued at approximately $1,725,000. Legato Capital Management LLC owned about 0.07% of Minerals Technologies at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Blue Trust Inc. lifted its holdings in shares of Minerals Technologies by 2,418.2% during the third quarter. Blue Trust Inc. now owns 831 shares of the basic materials company’s stock valued at $69,000 after purchasing an additional 798 shares in the last quarter. KBC Group NV lifted its position in shares of Minerals Technologies by 43.9% during the 4th quarter. KBC Group NV now owns 1,478 shares of the basic materials company’s stock valued at $113,000 after buying an additional 451 shares in the last quarter. CWM LLC raised its stake in Minerals Technologies by 40.6% during the 3rd quarter. CWM LLC now owns 1,870 shares of the basic materials company’s stock valued at $144,000 after purchasing an additional 540 shares during the period. SG Americas Securities LLC bought a new stake in Minerals Technologies during the 4th quarter valued at approximately $145,000. Finally, Paloma Partners Management Co bought a new stake in Minerals Technologies during the 3rd quarter valued at approximately $214,000. 97.29% of the stock is owned by hedge funds and other institutional investors.

Minerals Technologies Trading Up 1.6 %

Shares of NYSE MTX opened at $73.58 on Wednesday. The business has a fifty day moving average price of $76.58 and a 200 day moving average price of $76.50. Minerals Technologies Inc. has a 1-year low of $68.29 and a 1-year high of $90.29. The stock has a market capitalization of $2.35 billion, a P/E ratio of 14.20 and a beta of 1.30. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.46 and a quick ratio of 1.72.

Minerals Technologies (NYSE:MTX) last announced its quarterly earnings data on Thursday, February 6th. The basic materials company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.11. Minerals Technologies had a return on equity of 11.61% and a net margin of 7.89%. Equities research analysts expect that Minerals Technologies Inc. will post 6.81 EPS for the current fiscal year.

Minerals Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be given a $0.11 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.44 annualized dividend and a dividend yield of 0.60%. Minerals Technologies’s dividend payout ratio (DPR) is presently 8.49%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. StockNews.com raised Minerals Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Truist Financial lowered their target price on Minerals Technologies from $103.00 to $101.00 and set a “buy” rating for the company in a report on Monday.

About Minerals Technologies

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.