QRG Capital Management Inc. Sells 827 Shares of Minerals Technologies Inc. (NYSE:MTX)

QRG Capital Management Inc. trimmed its stake in shares of Minerals Technologies Inc. (NYSE:MTX) by 11.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,201 shares of the basic materials company’s stock after selling 827 shares during the quarter. QRG Capital Management Inc.’s holdings in Minerals Technologies were worth $479,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MTX. Picton Mahoney Asset Management bought a new position in Minerals Technologies in the 2nd quarter worth about $52,000. Blue Trust Inc. increased its stake in Minerals Technologies by 2,418.2% in the 3rd quarter. Blue Trust Inc. now owns 831 shares of the basic materials company’s stock worth $69,000 after acquiring an additional 798 shares during the last quarter. Innealta Capital LLC bought a new position in Minerals Technologies in the 2nd quarter worth about $76,000. Quarry LP increased its stake in Minerals Technologies by 1,857.4% in the 2nd quarter. Quarry LP now owns 920 shares of the basic materials company’s stock worth $77,000 after acquiring an additional 873 shares during the last quarter. Finally, CWM LLC increased its stake in Minerals Technologies by 585.6% in the 2nd quarter. CWM LLC now owns 1,330 shares of the basic materials company’s stock worth $111,000 after acquiring an additional 1,136 shares during the last quarter. 97.29% of the stock is currently owned by institutional investors.

Minerals Technologies Price Performance

MTX opened at $82.49 on Monday. The stock has a 50-day moving average price of $75.78 and a 200-day moving average price of $78.69. Minerals Technologies Inc. has a 12-month low of $57.93 and a 12-month high of $90.29. The company has a current ratio of 2.46, a quick ratio of 1.72 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $2.63 billion, a P/E ratio of 17.48 and a beta of 1.31.

Minerals Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, October 31st will be issued a $0.11 dividend. This is a boost from Minerals Technologies’s previous quarterly dividend of $0.10. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date is Thursday, October 31st. Minerals Technologies’s dividend payout ratio is presently 9.32%.

Analysts Set New Price Targets

Separately, StockNews.com lowered Minerals Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th.

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.