47,864 Shares in Minerals Technologies Inc. (NYSE:MTX) Acquired by Brandes Investment Partners LP

Brandes Investment Partners LP acquired a new position in Minerals Technologies Inc. (NYSE:MTX) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 47,864 shares of the basic materials company’s stock, valued at approximately $3,648,000.

A number of other hedge funds have also recently added to or reduced their stakes in MTX. Principal Financial Group Inc. increased its holdings in Minerals Technologies by 2.0% in the third quarter. Principal Financial Group Inc. now owns 162,291 shares of the basic materials company’s stock worth $12,534,000 after buying an additional 3,230 shares during the last quarter. Chesapeake Capital Corp IL grew its holdings in Minerals Technologies by 27.9% during the third quarter. Chesapeake Capital Corp IL now owns 6,653 shares of the basic materials company’s stock valued at $504,000 after purchasing an additional 1,451 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in Minerals Technologies by 42.2% during the third quarter. Thrivent Financial for Lutherans now owns 64,110 shares of the basic materials company’s stock valued at $4,951,000 after purchasing an additional 19,037 shares during the last quarter. Corbyn Investment Management Inc. MD grew its holdings in Minerals Technologies by 9.8% during the third quarter. Corbyn Investment Management Inc. MD now owns 30,438 shares of the basic materials company’s stock valued at $2,351,000 after purchasing an additional 2,710 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new position in Minerals Technologies during the third quarter valued at approximately $441,000. Institutional investors and hedge funds own 97.29% of the company’s stock.

Minerals Technologies Stock Up 1.4 %

MTX opened at $67.47 on Friday. Minerals Technologies Inc. has a 1-year low of $65.64 and a 1-year 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. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of 13.02 and a beta of 1.28. The business has a 50 day moving average of $72.53 and a 200-day moving average of $75.68.

Minerals Technologies (NYSE:MTX) last posted its quarterly earnings data on Thursday, February 6th. The basic materials company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.11. Minerals Technologies had a return on equity of 11.49% and a net margin of 7.89%. As a group, sell-side analysts anticipate that Minerals Technologies Inc. will post 6.62 earnings per share for the current year.

Minerals Technologies Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have commented on the company. StockNews.com upgraded Minerals Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, March 11th. Truist Financial lowered their price target on Minerals Technologies from $103.00 to $101.00 and set a “buy” rating on the stock in a report 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.