Comerica Bank Has $1.04 Million Stake in Minerals Technologies Inc. $MTX

Comerica Bank decreased its position in Minerals Technologies Inc. (NYSE:MTX) by 2.4% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 16,300 shares of the basic materials company’s stock after selling 400 shares during the period. Comerica Bank’s holdings in Minerals Technologies were worth $1,036,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. American Century Companies Inc. lifted its holdings in 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 valued at $67,898,000 after buying an additional 206,906 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in 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 valued at $33,879,000 after buying an additional 32,342 shares during the period. Nuveen LLC bought a new stake in Minerals Technologies in the first quarter valued at $33,177,000. Northern Trust Corp increased its stake in Minerals Technologies by 9.6% in the fourth quarter. Northern Trust Corp now owns 498,929 shares of the basic materials company’s stock valued at $38,023,000 after purchasing an additional 43,546 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in 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 valued at $33,135,000 after purchasing an additional 16,683 shares in the last quarter. Institutional investors and hedge funds own 97.29% of the company’s stock.

Minerals Technologies Trading Up 1.2%

NYSE:MTX opened at $64.03 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.95 and a quick ratio of 1.35. The firm has a 50-day moving average of $60.28 and a 200-day moving average of $59.96. The company has a market cap of $2.01 billion, a PE ratio of 1,067.41 and a beta of 1.22. Minerals Technologies Inc. has a one year low of $49.54 and a one year high of $86.49.

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

Minerals Technologies Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Wall Street Zen raised shares of Minerals Technologies from a “buy” rating to a “strong-buy” rating in a research note on Friday. Truist Financial lifted their price target on shares of Minerals Technologies from $80.00 to $84.00 and gave the company a “buy” rating in a research note on Monday, July 28th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $84.00.

Minerals Technologies Company 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.