Minerals Technologies Inc. (NYSE:MTX) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its holdings in Minerals Technologies Inc. (NYSE:MTX) by 78.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 207,033 shares of the basic materials company’s stock after buying an additional 91,146 shares during the period. JPMorgan Chase & Co.’s holdings in Minerals Technologies were worth $15,778,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in 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 buying an additional 326 shares during the last quarter. Blue Trust Inc. boosted its stake in Minerals Technologies by 21.4% during the 4th quarter. Blue Trust Inc. now owns 1,009 shares of the basic materials company’s stock valued at $78,000 after acquiring an additional 178 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in Minerals Technologies during the 4th quarter worth $78,000. KBC Group NV increased its position in shares of Minerals Technologies by 43.9% in the 4th 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 during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Minerals Technologies in the 4th quarter valued at about $145,000. 97.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on MTX. StockNews.com downgraded Minerals Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday. Truist Financial reduced their target price on Minerals Technologies from $103.00 to $101.00 and set a “buy” rating on the stock in a report on Monday, February 10th.

Minerals Technologies Stock Up 0.6 %

MTX stock opened at $56.19 on Friday. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of 10.85 and a beta of 1.25. Minerals Technologies Inc. has a 1-year low of $52.40 and a 1-year high of $90.30. The firm has a fifty day moving average price of $66.45 and a two-hundred day moving average price of $73.86. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.84 and a quick ratio of 1.98.

Minerals Technologies (NYSE:MTX) last posted its quarterly earnings results 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%. Research analysts predict that Minerals Technologies Inc. will post 6.62 EPS for the current year.

Minerals Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 14th were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date was Friday, February 14th. Minerals Technologies’s payout ratio is 8.49%.

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.