Rhumbline Advisers Increases Position in Minerals Technologies Inc (MTX)

Rhumbline Advisers lifted its stake in shares of Minerals Technologies Inc (NYSE:MTX) by 1.1% during the 1st quarter, Holdings Channel reports. The firm owned 119,934 shares of the basic materials company’s stock after acquiring an additional 1,269 shares during the period. Rhumbline Advisers’ holdings in Minerals Technologies were worth $7,051,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in MTX. Starr International Co. Inc. acquired a new position in shares of Minerals Technologies during the 1st quarter valued at $147,000. Dupont Capital Management Corp increased its stake in Minerals Technologies by 328.5% during the 1st quarter. Dupont Capital Management Corp now owns 49,131 shares of the basic materials company’s stock valued at $2,888,000 after purchasing an additional 37,665 shares in the last quarter. Lapides Asset Management LLC increased its stake in Minerals Technologies by 3.7% during the 1st quarter. Lapides Asset Management LLC now owns 108,500 shares of the basic materials company’s stock valued at $6,379,000 after purchasing an additional 3,855 shares in the last quarter. Quantamental Technologies LLC increased its stake in Minerals Technologies by 11.8% during the 1st quarter. Quantamental Technologies LLC now owns 1,895 shares of the basic materials company’s stock valued at $111,000 after purchasing an additional 200 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in Minerals Technologies by 99.8% during the 1st quarter. SG Americas Securities LLC now owns 99,697 shares of the basic materials company’s stock valued at $5,861,000 after purchasing an additional 49,804 shares in the last quarter. 94.32% of the stock is currently owned by institutional investors.

Shares of MTX stock opened at $53.66 on Friday. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of 11.09, a price-to-earnings-growth ratio of 1.63 and a beta of 1.92. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.31 and a quick ratio of 1.66. Minerals Technologies Inc has a 12 month low of $47.07 and a 12 month high of $80.80.

Minerals Technologies (NYSE:MTX) last announced its quarterly earnings results on Thursday, May 2nd. The basic materials company reported $1.11 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.11. The business had revenue of $437.70 million during the quarter, compared to analyst estimates of $447.65 million. Minerals Technologies had a net margin of 9.37% and a return on equity of 12.52%. Minerals Technologies’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.12 EPS. Analysts forecast that Minerals Technologies Inc will post 4.97 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, May 29th. This represents a $0.20 dividend on an annualized basis and a yield of 0.37%. Minerals Technologies’s dividend payout ratio (DPR) is presently 4.13%.

A number of brokerages have commented on MTX. Zacks Investment Research upgraded shares of Minerals Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday. JPMorgan Chase & Co. lowered shares of Minerals Technologies from an “overweight” rating to a “neutral” rating and set a $65.00 price target for the company. in a research note on Wednesday, May 1st. TheStreet upgraded shares of Minerals Technologies from a “c+” rating to a “b-” rating in a research note on Thursday, April 25th. Finally, Gabelli restated a “buy” rating on shares of Minerals Technologies in a research note on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $65.00.

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Minerals Technologies Company Profile

Minerals Technologies Inc develops, produces, and markets various specialty mineral, mineral-based, and synthetic mineral products, and supporting systems and services worldwide. The company's Specialty Minerals segment produces and sells precipitated calcium carbonate and quicklime; and provides natural mineral products comprising limestone and talc.

Further Reading: What is the Coverage Ratio?

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Institutional Ownership by Quarter for Minerals Technologies (NYSE:MTX)

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