9,254 Shares in Minerals Technologies Inc. $MTX Acquired by Kesler Norman & Wride LLC

Kesler Norman & Wride LLC acquired a new stake in shares of Minerals Technologies Inc. (NYSE:MTX) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,254 shares of the basic materials company’s stock, valued at approximately $575,000.

Other large investors have also bought and sold shares of the company. American Century Companies Inc. raised its stake in shares of Minerals Technologies by 20.3% in the second quarter. American Century Companies Inc. now owns 1,284,532 shares of the basic materials company’s stock valued at $70,739,000 after buying an additional 216,453 shares during the period. Geode Capital Management LLC increased its holdings in Minerals Technologies by 0.6% in the 2nd quarter. Geode Capital Management LLC now owns 911,831 shares of the basic materials company’s stock worth $50,220,000 after acquiring an additional 5,348 shares during the last quarter. Boston Trust Walden Corp raised its stake in Minerals Technologies by 9.2% in the 2nd quarter. Boston Trust Walden Corp now owns 659,583 shares of the basic materials company’s stock valued at $36,323,000 after acquiring an additional 55,345 shares during the period. Brandes Investment Partners LP raised its stake in Minerals Technologies by 436.3% in the 2nd quarter. Brandes Investment Partners LP now owns 538,073 shares of the basic materials company’s stock valued at $29,632,000 after acquiring an additional 437,734 shares during the period. Finally, First Trust Advisors LP lifted its holdings in Minerals Technologies by 0.7% during the second quarter. First Trust Advisors LP now owns 532,975 shares of the basic materials company’s stock valued at $29,351,000 after purchasing an additional 3,786 shares during the last quarter. 97.29% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Minerals Technologies

In other news, insider Brett Argirakis sold 6,501 shares of Minerals Technologies stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $58.68, for a total transaction of $381,478.68. Following the completion of the sale, the insider owned 27,602 shares in the company, valued at approximately $1,619,685.36. This trade represents a 19.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Dj Monagle III sold 23,093 shares of the company’s stock in a transaction that occurred on Monday, December 29th. The stock was sold at an average price of $61.90, for a total transaction of $1,429,456.70. Following the completion of the transaction, the insider owned 84,349 shares in the company, valued at approximately $5,221,203.10. This trade represents a 21.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 3.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on MTX shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Minerals Technologies in a research report on Monday, December 22nd. Wall Street Zen cut shares of Minerals Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 18th. Finally, Zacks Research downgraded shares of Minerals Technologies from a “hold” rating to a “strong sell” rating in a report on Tuesday, December 16th. One analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $84.00.

Minerals Technologies Price Performance

Shares of NYSE:MTX opened at $66.36 on Friday. The company has a 50 day moving average of $59.68 and a 200 day moving average of $60.16. The company has a current ratio of 1.98, a quick ratio of 1.37 and a debt-to-equity ratio of 0.56. The stock has a market cap of $2.07 billion, a P/E ratio of -3,316.14 and a beta of 1.27. Minerals Technologies Inc. has a 12 month low of $49.54 and a 12 month high of $78.23.

Minerals Technologies (NYSE:MTX) last announced its quarterly earnings results on Wednesday, March 15th. The basic materials company reported $1.50 EPS for the quarter. The firm had revenue of $557.00 million during the quarter. Minerals Technologies had a negative net margin of 0.08% and a positive return on equity of 10.69%. As a group, sell-side analysts forecast that Minerals Technologies Inc. will post 6.62 EPS for the current fiscal year.

Minerals Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Thursday, October 30th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Thursday, October 30th. This is an increase from Minerals Technologies’s previous quarterly dividend of $0.11. Minerals Technologies’s payout ratio is -2,400.00%.

About Minerals Technologies

Minerals Technologies Inc develops, produces and processes a broad range of mineral-based products and solutions that serve a variety of industrial applications. Its offerings include bentonite, perlite, precipitated calcium carbonate (PCC), mineral sands, foundry additives, performance minerals and specialty chemicals designed to enhance performance in markets such as paper, steel, construction, oil and gas, environmental remediation and consumer products.

The company operates through several business segments, including Specialty Minerals, Refractory Minerals, Performance Materials and Recycled Materials.