Y Intercept Hong Kong Ltd Boosts Stock Position in Minerals Technologies Inc. (NYSE:MTX)

Y Intercept Hong Kong Ltd increased its stake in shares of Minerals Technologies Inc. (NYSE:MTX) by 74.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,264 shares of the basic materials company’s stock after purchasing an additional 7,364 shares during the quarter. Y Intercept Hong Kong Ltd owned approximately 0.05% of Minerals Technologies worth $1,316,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MTX. Blue Trust Inc. increased its position in Minerals Technologies by 2,418.2% during the 3rd quarter. Blue Trust Inc. now owns 831 shares of the basic materials company’s stock worth $69,000 after purchasing an additional 798 shares in the last quarter. Principal Financial Group Inc. increased its position in Minerals Technologies by 2.0% during the 3rd quarter. Principal Financial Group Inc. now owns 162,291 shares of the basic materials company’s stock worth $12,534,000 after purchasing an additional 3,230 shares in the last quarter. MQS Management LLC purchased a new stake in Minerals Technologies during the 3rd quarter worth about $343,000. Chesapeake Capital Corp IL increased its position in Minerals Technologies by 27.9% during the 3rd quarter. Chesapeake Capital Corp IL now owns 6,653 shares of the basic materials company’s stock worth $504,000 after purchasing an additional 1,451 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its holdings in 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 buying an additional 19,037 shares during the period. Hedge funds and other institutional investors own 97.29% of the company’s stock.

Analysts Set New Price Targets

MTX has been the subject of several recent analyst reports. Truist Financial lowered their price target on Minerals Technologies from $103.00 to $101.00 and set a “buy” rating for the company in a report on Monday, February 10th. StockNews.com cut Minerals Technologies from a “buy” rating to a “hold” rating in a report on Tuesday.

Minerals Technologies Stock Down 1.6 %

Shares of NYSE:MTX opened at $69.49 on Thursday. 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 Inc. has a 1 year low of $69.35 and a 1 year high of $90.29. The stock has a market capitalization of $2.22 billion, a P/E ratio of 13.42 and a beta of 1.30. The stock has a 50-day simple moving average of $74.61 and a 200-day simple moving average of $76.25.

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

Minerals Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.63%. The ex-dividend date is Friday, February 14th. Minerals Technologies’s dividend payout ratio (DPR) is presently 8.49%.

Minerals Technologies 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.