MetLife Investment Management LLC Sells 247 Shares of Minerals Technologies Inc. $MTX

MetLife Investment Management LLC cut its holdings in shares of Minerals Technologies Inc. (NYSE:MTX) by 1.3% during the first quarter, Holdings Channel.com reports. The fund owned 19,185 shares of the basic materials company’s stock after selling 247 shares during the period. MetLife Investment Management LLC’s holdings in Minerals Technologies were worth $1,220,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. American Century Companies Inc. increased its holdings in shares of Minerals Technologies by 24.0% in the first quarter. American Century Companies Inc. now owns 1,068,079 shares of the basic materials company’s stock worth $67,898,000 after purchasing an additional 206,906 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Minerals Technologies by 6.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 543,547 shares of the basic materials company’s stock worth $33,879,000 after purchasing an additional 32,342 shares during the last quarter. Nuveen LLC bought a new stake in shares of Minerals Technologies in the first quarter worth about $33,177,000. Northern Trust Corp increased its holdings in shares of Minerals Technologies by 9.6% in the fourth quarter. Northern Trust Corp now owns 498,929 shares of the basic materials company’s stock worth $38,023,000 after purchasing an additional 43,546 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Minerals Technologies by 4.0% in the fourth quarter. Bank of America Corp DE now owns 434,789 shares of the basic materials company’s stock worth $33,135,000 after purchasing an additional 16,683 shares during the last quarter. 97.29% of the stock is owned by institutional investors.

Minerals Technologies Trading Down 2.2%

Shares of NYSE MTX opened at $63.33 on Friday. The business’s 50 day moving average is $60.12 and its two-hundred day moving average is $60.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.95 and a quick ratio of 1.35. Minerals Technologies Inc. has a 1-year low of $49.54 and a 1-year high of $86.49. The stock has a market capitalization of $1.99 billion, a P/E ratio of 1,055.66 and a beta of 1.22.

Minerals Technologies (NYSE:MTX) last issued its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.12. Minerals Technologies had a return on equity of 10.64% and a net margin of 0.10%.The company had revenue of $528.90 million for the quarter, compared to analysts’ expectations of $529.13 million. During the same period in the previous year, the firm posted $1.65 earnings per share. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. As a group, research analysts expect that Minerals Technologies Inc. will post 6.62 EPS for the current year.

Minerals Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Friday, August 15th. Minerals Technologies’s payout ratio is presently 733.33%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MTX. Wall Street Zen raised Minerals Technologies from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. Truist Financial lifted their target price on Minerals Technologies from $80.00 to $84.00 and gave the stock a “buy” rating in a report on Monday, July 28th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Minerals Technologies presently has an average rating of “Buy” and a consensus target price of $84.00.

About Minerals Technologies

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.