M&T Bank Corp Acquires 4,402 Shares of Minerals Technologies Inc. (NYSE:MTX)

M&T Bank Corp raised its stake in shares of Minerals Technologies Inc. (NYSE:MTX) by 13.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 37,770 shares of the basic materials company’s stock after purchasing an additional 4,402 shares during the period. M&T Bank Corp’s holdings in Minerals Technologies were worth $2,878,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MTX. State Street Corp raised its position in shares of Minerals Technologies by 2.6% during the third quarter. State Street Corp now owns 1,268,792 shares of the basic materials company’s stock worth $97,989,000 after acquiring an additional 32,196 shares during the last quarter. Principal Financial Group Inc. increased its position in Minerals Technologies by 2.7% during the 4th quarter. Principal Financial Group Inc. now owns 166,647 shares of the basic materials company’s stock valued at $12,700,000 after purchasing an additional 4,356 shares during the period. JPMorgan Chase & Co. raised its holdings in Minerals Technologies by 9.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 115,887 shares of the basic materials company’s stock worth $8,950,000 after purchasing an additional 10,284 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Minerals Technologies by 21.1% in the 3rd quarter. Franklin Resources Inc. now owns 47,847 shares of the basic materials company’s stock worth $3,728,000 after purchasing an additional 8,335 shares during the period. Finally, Thrivent Financial for Lutherans boosted its stake in shares of Minerals Technologies by 42.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 64,110 shares of the basic materials company’s stock valued at $4,951,000 after purchasing an additional 19,037 shares during the last quarter. 97.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MTX has been the subject of a number of analyst reports. StockNews.com downgraded shares of Minerals Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Truist Financial lowered their price objective on Minerals Technologies from $103.00 to $101.00 and set a “buy” rating for the company in a research report on Monday, February 10th.

Minerals Technologies Price Performance

Shares of MTX opened at $67.91 on Friday. The firm has a market cap of $2.17 billion, a PE ratio of 13.11 and a beta of 1.28. Minerals Technologies Inc. has a 52-week low of $66.33 and a 52-week high of $90.29. The business’s 50 day moving average price is $73.40 and its two-hundred day moving average price is $75.99. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.98 and a current ratio of 2.84.

Minerals Technologies (NYSE:MTX) last released its earnings results on Thursday, February 6th. The basic materials company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.11. Minerals Technologies had a net margin of 7.89% and a return on equity of 11.49%. On average, equities analysts anticipate that Minerals Technologies Inc. will post 6.62 EPS for the current year.

Minerals Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 14th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.65%. Minerals Technologies’s dividend payout ratio (DPR) is presently 8.49%.

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.