Bank of America Corp DE Acquires 16,683 Shares of Minerals Technologies Inc. (NYSE:MTX)

Bank of America Corp DE grew its holdings in Minerals Technologies Inc. (NYSE:MTX) by 4.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 434,789 shares of the basic materials company’s stock after purchasing an additional 16,683 shares during the quarter. Bank of America Corp DE owned approximately 1.36% of Minerals Technologies worth $33,135,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Smartleaf Asset Management LLC raised its holdings in shares of Minerals Technologies by 181.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 506 shares of the basic materials company’s stock valued at $38,000 after purchasing an additional 326 shares in the last quarter. Quarry LP raised its stake in shares of Minerals Technologies by 536.5% during the 4th quarter. Quarry LP now owns 732 shares of the basic materials company’s stock worth $56,000 after acquiring an additional 617 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Minerals Technologies by 21.4% during the 4th quarter. Blue Trust Inc. now owns 1,009 shares of the basic materials company’s stock worth $78,000 after acquiring an additional 178 shares in the last quarter. Venturi Wealth Management LLC bought a new position in shares of Minerals Technologies during the 4th quarter worth approximately $78,000. Finally, KBC Group NV raised its stake in shares of Minerals Technologies by 43.9% during the 4th quarter. KBC Group NV now owns 1,478 shares of the basic materials company’s stock worth $113,000 after acquiring an additional 451 shares in the last quarter. Institutional investors own 97.29% of the company’s stock.

Wall Street Analyst Weigh In

MTX has been the subject of several recent analyst reports. Truist Financial reduced their price objective on shares of Minerals Technologies from $92.00 to $80.00 and set a “buy” rating for the company in a research note on Monday, April 28th. StockNews.com lowered shares of Minerals Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, April 9th.

Minerals Technologies Trading Up 0.9%

Shares of Minerals Technologies stock opened at $59.43 on Friday. The company has a current ratio of 2.84, a quick ratio of 1.98 and a debt-to-equity ratio of 0.54. Minerals Technologies Inc. has a 12-month low of $49.54 and a 12-month high of $90.30. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of 11.47 and a beta of 1.22. The firm’s 50 day simple moving average is $58.89 and its two-hundred day simple moving average is $70.19.

Minerals Technologies (NYSE:MTX) last issued its quarterly earnings results on Thursday, April 24th. The basic materials company reported $1.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.02). Minerals Technologies had a net margin of 7.89% and a return on equity of 11.49%. The company had revenue of $491.80 million for the quarter, compared to analyst estimates of $502.03 million. During the same quarter in the previous year, the company posted $1.49 EPS. The company’s revenue for the quarter was down 8.0% compared to the same quarter last year. Analysts predict that Minerals Technologies Inc. will post 6.62 EPS for the current year.

Minerals Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.44 dividend on an annualized basis and a yield of 0.74%. Minerals Technologies’s payout ratio is -57.14%.

Insider Buying and Selling at Minerals Technologies

In other Minerals Technologies news, CFO Erik Aldag acquired 1,000 shares of the company’s stock in a transaction dated Wednesday, April 30th. The shares were acquired at an average cost of $50.37 per share, with a total value of $50,370.00. Following the acquisition, the chief financial officer now directly owns 4,245 shares of the company’s stock, valued at approximately $213,820.65. The trade was a 30.82% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 3.50% of the stock is currently owned by company insiders.

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.