Victory Capital Management Inc. Trims Stock Holdings in Minerals Technologies Inc. (NYSE:MTX)

Victory Capital Management Inc. decreased its holdings in Minerals Technologies Inc. (NYSE:MTX) by 15.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 863,240 shares of the basic materials company’s stock after selling 160,297 shares during the period. Victory Capital Management Inc.’s holdings in Minerals Technologies were worth $65,788,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC increased its stake in shares of Minerals Technologies by 181.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 506 shares of the basic materials company’s stock worth $38,000 after purchasing an additional 326 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Minerals Technologies by 21.4% in the fourth quarter. Blue Trust Inc. now owns 1,009 shares of the basic materials company’s stock worth $78,000 after purchasing an additional 178 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in shares of Minerals Technologies in the fourth quarter worth about $78,000. KBC Group NV increased its stake in shares of Minerals Technologies by 43.9% in the fourth quarter. KBC Group NV now owns 1,478 shares of the basic materials company’s stock worth $113,000 after purchasing an additional 451 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Minerals Technologies in the fourth quarter worth about $145,000. Hedge funds and other institutional investors own 97.29% of the company’s stock.

Minerals Technologies Price Performance

Shares of NYSE:MTX opened at $67.91 on Friday. The company has a 50 day moving average of $73.40 and a 200 day moving average of $75.97. The stock has a market cap of $2.17 billion, a P/E ratio of 13.11 and a beta of 1.28. Minerals Technologies Inc. has a 12 month low of $66.33 and a 12 month high of $90.29. The company has a current ratio of 2.84, a quick ratio of 1.98 and a debt-to-equity ratio of 0.54.

Minerals Technologies (NYSE:MTX) last issued its quarterly earnings data on Thursday, February 6th. The basic materials company reported $1.50 EPS for the quarter, beating 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%. As a group, sell-side analysts forecast that Minerals Technologies Inc. will post 6.62 EPS for the current fiscal year.

Minerals Technologies Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on MTX shares. StockNews.com downgraded shares of Minerals Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. 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.

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.