Connor Clark & Lunn Investment Management Ltd. Decreases Stake in Minerals Technologies Inc. (NYSE:MTX)

Connor Clark & Lunn Investment Management Ltd. reduced its holdings in Minerals Technologies Inc. (NYSE:MTX) by 31.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,440 shares of the basic materials company’s stock after selling 6,149 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Minerals Technologies were worth $1,024,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. raised its stake in Minerals Technologies by 21.4% during 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 during the period. Savant Capital LLC increased its position in shares of Minerals Technologies by 7.4% during the fourth quarter. Savant Capital LLC now owns 3,783 shares of the basic materials company’s stock valued at $288,000 after acquiring an additional 260 shares during the last quarter. QRG Capital Management Inc. increased its position in shares of Minerals Technologies by 4.5% during the fourth quarter. QRG Capital Management Inc. now owns 6,481 shares of the basic materials company’s stock valued at $494,000 after acquiring an additional 280 shares during the last quarter. Smartleaf Asset Management LLC increased its position in shares of 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 acquiring an additional 326 shares during the last quarter. Finally, Quantinno Capital Management LP increased its position in shares of Minerals Technologies by 9.6% during the third quarter. Quantinno Capital Management LP now owns 4,178 shares of the basic materials company’s stock valued at $323,000 after acquiring an additional 366 shares during the last quarter. 97.29% of the stock is owned by hedge funds and other institutional investors.

Minerals Technologies Trading Down 1.4 %

Shares of MTX stock opened at $67.07 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.98 and a current ratio of 2.84. The stock has a market capitalization of $2.14 billion, a P/E ratio of 12.95 and a beta of 1.28. The company has a 50 day moving average price of $72.06 and a 200 day moving average price of $75.46. Minerals Technologies Inc. has a fifty-two week low of $65.64 and a fifty-two week high of $90.30.

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 net margin of 7.89% and a return on equity of 11.49%. Equities research analysts predict that Minerals Technologies Inc. will post 6.62 EPS for the current fiscal year.

Minerals Technologies Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on MTX shares. Truist Financial dropped their price target on shares of Minerals Technologies from $103.00 to $101.00 and set a “buy” rating for the company in a research report on Monday, February 10th. StockNews.com cut shares of Minerals Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday.

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.