JPMorgan Chase & Co. cut its holdings in Minerals Technologies Inc (NYSE:MTX) by 11.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 300,236 shares of the basic materials company’s stock after selling 37,989 shares during the period. JPMorgan Chase & Co. owned approximately 0.85% of Minerals Technologies worth $20,296,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also bought and sold shares of the company. BlackRock Inc. raised its position in shares of Minerals Technologies by 5.1% in the 2nd quarter. BlackRock Inc. now owns 3,914,682 shares of the basic materials company’s stock worth $294,971,000 after acquiring an additional 190,711 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Minerals Technologies by 6.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,594,877 shares of the basic materials company’s stock worth $120,173,000 after acquiring an additional 99,153 shares in the last quarter. Royce & Associates LP raised its position in shares of Minerals Technologies by 7.4% in the 2nd quarter. Royce & Associates LP now owns 1,522,165 shares of the basic materials company’s stock worth $114,695,000 after acquiring an additional 105,100 shares in the last quarter. Northern Trust Corp increased its position in Minerals Technologies by 2.9% in the 2nd quarter. Northern Trust Corp now owns 1,057,757 shares of the basic materials company’s stock valued at $79,702,000 after buying an additional 29,568 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in Minerals Technologies by 2.7% in the 3rd quarter. Victory Capital Management Inc. now owns 1,000,539 shares of the basic materials company’s stock valued at $67,636,000 after buying an additional 26,577 shares in the last quarter. 93.99% of the stock is owned by hedge funds and other institutional investors.
A number of analysts recently commented on the company. Zacks Investment Research lowered Minerals Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, November 7th. TheStreet lowered Minerals Technologies from a “b-” rating to a “c+” rating in a research report on Tuesday, October 30th. Finally, ValuEngine lowered Minerals Technologies from a “hold” rating to a “sell” rating in a research report on Monday, October 8th.
Minerals Technologies (NYSE:MTX) last issued its earnings results on Thursday, November 1st. The basic materials company reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.02. Minerals Technologies had a return on equity of 12.91% and a net margin of 11.38%. The business had revenue of $464.10 million during the quarter, compared to analyst estimates of $464.20 million. During the same period in the previous year, the company posted $1.19 EPS. The firm’s revenue was up 9.4% compared to the same quarter last year. Analysts expect that Minerals Technologies Inc will post 4.84 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Monday, November 26th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend is Friday, November 23rd. Minerals Technologies’s payout ratio is 4.36%.
In related news, VP Andrew M. Jones sold 7,486 shares of the business’s stock in a transaction dated Friday, November 16th. The stock was sold at an average price of $57.31, for a total value of $429,022.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.40% of the company’s stock.
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Minerals Technologies Company Profile
Minerals Technologies Inc develops, produces, and markets various specialty mineral, mineral-based, and synthetic mineral products, and supporting systems and services worldwide. The company's Specialty Minerals segment produces and sells precipitated calcium carbonate and quicklime; and provides natural mineral products comprising limestone and talc.
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