Illinois Municipal Retirement Fund Reduces Stock Position in Minerals Technologies Inc. (NYSE:MTX)

Illinois Municipal Retirement Fund trimmed its holdings in Minerals Technologies Inc. (NYSE:MTX) by 1.4% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 18,652 shares of the basic materials company’s stock after selling 256 shares during the period. Illinois Municipal Retirement Fund owned approximately 0.06% of Minerals Technologies worth $1,404,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. US Bancorp DE boosted its position in shares of Minerals Technologies by 1.6% during the fourth quarter. US Bancorp DE now owns 12,457 shares of the basic materials company’s stock worth $888,000 after buying an additional 196 shares during the period. Parallel Advisors LLC boosted its position in shares of Minerals Technologies by 97.9% during the fourth quarter. Parallel Advisors LLC now owns 556 shares of the basic materials company’s stock worth $40,000 after buying an additional 275 shares during the period. Texas Permanent School Fund Corp boosted its position in shares of Minerals Technologies by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 28,482 shares of the basic materials company’s stock worth $2,144,000 after buying an additional 368 shares during the period. Wedge Capital Management L L P NC boosted its position in shares of Minerals Technologies by 10.4% during the fourth quarter. Wedge Capital Management L L P NC now owns 9,108 shares of the basic materials company’s stock worth $649,000 after buying an additional 856 shares during the period. Finally, Fidelis Capital Partners LLC acquired a new stake in shares of Minerals Technologies in the first quarter valued at $77,000. 97.29% of the stock is currently owned by hedge funds and other institutional investors.

Minerals Technologies Stock Up 0.4 %

Shares of NYSE MTX opened at $84.85 on Monday. The stock has a market cap of $2.74 billion, a P/E ratio of 29.36 and a beta of 1.32. The company has a current ratio of 2.49, a quick ratio of 1.75 and a debt-to-equity ratio of 0.53. Minerals Technologies Inc. has a 12-month low of $48.61 and a 12-month high of $87.46. The business’s fifty day simple moving average is $83.01 and its 200-day simple moving average is $75.26.

Minerals Technologies (NYSE:MTX) last announced its quarterly earnings data on Thursday, April 25th. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.22. Minerals Technologies had a return on equity of 10.87% and a net margin of 4.35%. The business had revenue of $534.50 million for the quarter, compared to analysts’ expectations of $545.55 million. During the same period last year, the firm earned $1.14 earnings per share. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. As a group, equities analysts predict that Minerals Technologies Inc. will post 6.29 EPS for the current fiscal year.

Minerals Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Friday, May 31st were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date was Friday, May 31st. Minerals Technologies’s dividend payout ratio is presently 13.84%.

Insider Buying and Selling at Minerals Technologies

In other Minerals Technologies news, VP Michael Cipolla sold 11,958 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $84.36, for a total value of $1,008,776.88. Following the sale, the vice president now directly owns 35,864 shares in the company, valued at $3,025,487.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, VP Michael Cipolla sold 11,958 shares of Minerals Technologies stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $84.36, for a total transaction of $1,008,776.88. Following the sale, the vice president now owns 35,864 shares in the company, valued at $3,025,487.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jonathan J. Hastings sold 7,814 shares of Minerals Technologies stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $83.13, for a total value of $649,577.82. Following the sale, the senior vice president now owns 53,862 shares in the company, valued at approximately $4,477,548.06. The disclosure for this sale can be found here. Insiders have sold a total of 57,459 shares of company stock worth $4,842,108 over the last ninety days. Corporate insiders own 3.50% of the company’s stock.

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.