Maryland State Retirement & Pension System Reduces Stock Holdings in Minerals Technologies Inc. (NYSE:MTX)

Maryland State Retirement & Pension System lessened its stake in shares of Minerals Technologies Inc. (NYSE:MTX) by 1.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,828 shares of the basic materials company’s stock after selling 159 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Minerals Technologies were worth $843,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of MTX. Skandinaviska Enskilda Banken AB publ acquired a new position in Minerals Technologies in the third quarter valued at $44,000. Acadian Asset Management LLC purchased a new position in Minerals Technologies during the 3rd quarter worth approximately $58,000. International Assets Investment Management LLC increased its position in Minerals Technologies by 1,266.0% during the fourth quarter. International Assets Investment Management LLC now owns 1,284 shares of the basic materials company’s stock worth $92,000 after buying an additional 1,190 shares during the period. SG Americas Securities LLC acquired a new position in Minerals Technologies during the fourth quarter worth approximately $158,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in Minerals Technologies in the fourth quarter valued at approximately $214,000. Institutional investors and hedge funds own 97.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on MTX shares. Seaport Res Ptn upgraded shares of Minerals Technologies from a “neutral” rating to a “buy” rating in a research report on Monday, February 5th. TheStreet upgraded shares of Minerals Technologies from a “c+” rating to a “b” rating in a research note on Friday, February 2nd. Finally, StockNews.com upgraded Minerals Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, February 8th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $68.50.

Minerals Technologies Stock Performance

Shares of MTX opened at $79.77 on Friday. The stock has a market capitalization of $2.57 billion, a P/E ratio of 27.60 and a beta of 1.32. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.75 and a current ratio of 2.49. Minerals Technologies Inc. has a 1 year low of $48.61 and a 1 year high of $80.28. The company’s fifty day moving average is $73.68 and its two-hundred day moving average is $68.12.

Minerals Technologies (NYSE:MTX) last issued its quarterly earnings results on Thursday, April 25th. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.22. Minerals Technologies had a net margin of 4.35% and a return on equity of 10.87%. The business had revenue of $534.50 million for the quarter, compared to analyst estimates of $545.55 million. During the same period in the previous year, the business posted $1.14 earnings per share. The business’s revenue was down 2.1% compared to the same quarter last year. On average, sell-side analysts predict that Minerals Technologies Inc. will post 6.29 earnings per share for the current year.

Insider Activity

In other news, SVP Jonathan J. Hastings sold 12,922 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $71.48, for a total value of $923,664.56. Following the completion of the transaction, the senior vice president now owns 53,862 shares in the company, valued at approximately $3,850,055.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Jonathan J. Hastings sold 12,922 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $71.48, for a total value of $923,664.56. Following the completion of the transaction, the senior vice president now owns 53,862 shares of the company’s stock, valued at $3,850,055.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Dj Monagle III sold 1,180 shares of the stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $74.12, for a total value of $87,461.60. Following the transaction, the insider now directly owns 81,031 shares in the company, valued at approximately $6,006,017.72. The disclosure for this sale can be found here. Insiders own 3.50% of the company’s stock.

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.