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

M&T Bank Corp increased its stake in Minerals Technologies Inc. (NYSE:MTX) by 13.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm 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 owned approximately 0.12% of Minerals Technologies worth $2,878,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. increased its holdings in Minerals Technologies by 2.0% in the 3rd quarter. Principal Financial Group Inc. now owns 162,291 shares of the basic materials company’s stock valued at $12,534,000 after buying an additional 3,230 shares during the period. MQS Management LLC acquired a new stake in shares of Minerals Technologies during the 3rd quarter worth approximately $343,000. Chesapeake Capital Corp IL increased its stake in Minerals Technologies by 27.9% in the third quarter. Chesapeake Capital Corp IL now owns 6,653 shares of the basic materials company’s stock valued at $504,000 after acquiring an additional 1,451 shares during the last quarter. Thrivent Financial for Lutherans raised its position in Minerals Technologies by 42.2% during the third 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 in the last quarter. Finally, Corbyn Investment Management Inc. MD lifted its stake in Minerals Technologies by 9.8% during the third quarter. Corbyn Investment Management Inc. MD now owns 30,438 shares of the basic materials company’s stock worth $2,351,000 after purchasing an additional 2,710 shares during the last quarter. Institutional investors and hedge funds own 97.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MTX. Truist Financial decreased their price target on Minerals Technologies from $103.00 to $101.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. StockNews.com lowered Minerals Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th.

Minerals Technologies Price Performance

MTX stock opened at $67.91 on Friday. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of 13.11 and a beta of 1.28. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.84 and a quick ratio of 1.98. The company has a 50 day simple moving average of $73.40 and a 200 day simple moving average of $75.99. Minerals Technologies Inc. has a 1 year low of $66.33 and a 1 year high of $90.29.

Minerals Technologies (NYSE:MTX) last posted its earnings results on Thursday, February 6th. The basic materials company reported $1.50 earnings per share for the quarter, topping 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%. Research analysts anticipate that Minerals Technologies Inc. will post 6.62 EPS for the current fiscal year.

Minerals Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 14th were given a $0.11 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.44 annualized dividend and a yield of 0.65%. Minerals Technologies’s dividend payout ratio 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.