Vestcor Inc Makes New Investment in Minerals Technologies Inc. (NYSE:MTX)

Vestcor Inc acquired a new position in shares of Minerals Technologies Inc. (NYSE:MTX) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 2,424 shares of the basic materials company’s stock, valued at approximately $185,000.

Other institutional investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC lifted its position in shares of Minerals Technologies by 181.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 506 shares of the basic materials company’s stock worth $38,000 after purchasing an additional 326 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Minerals Technologies by 21.4% during the fourth quarter. Blue Trust Inc. now owns 1,009 shares of the basic materials company’s stock worth $78,000 after purchasing an additional 178 shares in the last quarter. Venturi Wealth Management LLC acquired a new position in shares of Minerals Technologies during the fourth quarter worth $78,000. KBC Group NV lifted its position in shares of Minerals Technologies by 43.9% during the fourth quarter. KBC Group NV now owns 1,478 shares of the basic materials company’s stock worth $113,000 after purchasing an additional 451 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Minerals Technologies during the fourth quarter worth $145,000. 97.29% of the stock is currently owned by hedge funds and other institutional investors.

Minerals Technologies Trading Down 0.6 %

MTX opened at $67.83 on Wednesday. The stock has a market capitalization of $2.16 billion, a PE ratio of 13.09 and a beta of 1.28. The firm’s fifty day moving average price is $72.29 and its 200 day moving average price is $75.57. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.84 and a quick ratio of 1.98. Minerals Technologies Inc. has a 12-month low of $65.64 and a 12-month high of $90.30.

Minerals Technologies (NYSE:MTX) last posted its quarterly earnings results on Thursday, February 6th. The basic materials company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.11. Minerals Technologies had a net margin of 7.89% and a return on equity of 11.49%. As a group, research analysts expect that Minerals Technologies Inc. will post 6.62 EPS for the current fiscal year.

Minerals Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 14th were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.44 annualized dividend and a yield of 0.65%. Minerals Technologies’s payout ratio is 8.49%.

Wall Street Analysts Forecast Growth

MTX has been the topic of a number of recent research reports. StockNews.com cut shares of Minerals Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday. Truist Financial cut their price target on shares of Minerals Technologies from $103.00 to $101.00 and set a “buy” rating on the stock in a report on Monday, February 10th.

About Minerals Technologies

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.