Russell Investments Group Ltd. Sells 13,390 Shares of Minerals Technologies Inc. (NYSE:MTX)

Russell Investments Group Ltd. lessened its holdings in Minerals Technologies Inc. (NYSE:MTX) by 25.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 38,826 shares of the basic materials company’s stock after selling 13,390 shares during the period. Russell Investments Group Ltd.’s holdings in Minerals Technologies were worth $2,959,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Barclays PLC increased its stake in Minerals Technologies by 210.1% in the third quarter. Barclays PLC now owns 111,526 shares of the basic materials company’s stock valued at $8,615,000 after acquiring an additional 75,565 shares during the period. Geode Capital Management LLC grew its stake in shares of Minerals Technologies by 3.8% in the 3rd quarter. Geode Capital Management LLC now owns 865,343 shares of the basic materials company’s stock valued at $66,841,000 after purchasing an additional 31,616 shares during the period. Tidal Investments LLC raised its holdings in shares of Minerals Technologies by 14.6% in the 3rd quarter. Tidal Investments LLC now owns 7,454 shares of the basic materials company’s stock worth $576,000 after buying an additional 948 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Minerals Technologies by 21.1% during the 3rd quarter. Franklin Resources Inc. now owns 47,847 shares of the basic materials company’s stock worth $3,728,000 after buying an additional 8,335 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in Minerals Technologies by 2.0% in the 3rd quarter. Principal Financial Group Inc. now owns 162,291 shares of the basic materials company’s stock valued at $12,534,000 after buying an additional 3,230 shares in the last quarter. Institutional investors and hedge funds own 97.29% of the company’s stock.

Minerals Technologies Stock Up 0.9 %

Shares of MTX opened at $56.73 on Friday. The company has a market capitalization of $1.81 billion, a P/E ratio of 10.95 and a beta of 1.25. Minerals Technologies Inc. has a one year low of $52.40 and a one year high of $90.30. The business’s 50 day simple moving average is $65.02 and its 200-day simple moving average is $73.33. 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 data on Thursday, February 6th. The basic materials company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates 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 predict that Minerals Technologies Inc. will post 6.62 EPS for the current fiscal year.

Minerals Technologies Announces Dividend

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

Analysts Set New Price Targets

Several research firms have issued reports on MTX. Truist Financial dropped their price objective on Minerals Technologies from $101.00 to $92.00 and set a “buy” rating for the company in a research note on Monday. StockNews.com downgraded shares of Minerals Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, April 9th.

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.