SummerHaven Investment Management LLC Purchases New Position in Minerals Technologies Inc. $MTX

SummerHaven Investment Management LLC purchased a new stake in Minerals Technologies Inc. (NYSE:MTX) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 14,237 shares of the basic materials company’s stock, valued at approximately $884,000.

Several other institutional investors have also modified their holdings of MTX. Aristides Capital LLC boosted its holdings in shares of Minerals Technologies by 4.9% in the 2nd quarter. Aristides Capital LLC now owns 4,182 shares of the basic materials company’s stock valued at $230,000 after buying an additional 195 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Minerals Technologies by 3.7% in the second quarter. Nisa Investment Advisors LLC now owns 6,146 shares of the basic materials company’s stock valued at $338,000 after acquiring an additional 219 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of Minerals Technologies by 3.4% in the 2nd quarter. Bank of Montreal Can now owns 8,814 shares of the basic materials company’s stock valued at $485,000 after purchasing an additional 287 shares during the last quarter. California State Teachers Retirement System increased its position in Minerals Technologies by 1.0% during the second quarter. California State Teachers Retirement System now owns 29,716 shares of the basic materials company’s stock worth $1,636,000 after buying an additional 304 shares during the period. Finally, Blue Trust Inc. lifted its stake in Minerals Technologies by 44.6% in the second quarter. Blue Trust Inc. now owns 1,011 shares of the basic materials company’s stock valued at $56,000 after buying an additional 312 shares during the last quarter. Hedge funds and other institutional investors own 97.29% of the company’s stock.

Minerals Technologies Stock Down 1.5%

MTX stock opened at $67.13 on Wednesday. The stock has a market capitalization of $2.09 billion, a PE ratio of -3,354.82 and a beta of 1.27. The company has a fifty day moving average of $62.24 and a 200-day moving average of $60.99. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.37 and a current ratio of 1.98. Minerals Technologies Inc. has a one year low of $49.54 and a one year high of $78.23.

Minerals Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 13th will be 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 is Friday, February 13th. Minerals Technologies’s dividend payout ratio (DPR) is currently -2,400.00%.

Insider Buying and Selling

In other Minerals Technologies news, insider Dj Monagle III sold 23,093 shares of the business’s stock in a transaction on Monday, December 29th. The shares were sold at an average price of $61.90, for a total transaction of $1,429,456.70. Following the sale, the insider directly owned 84,349 shares in the company, valued at approximately $5,221,203.10. The trade was a 21.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brett Argirakis sold 6,501 shares of the company’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $58.68, for a total transaction of $381,478.68. Following the transaction, the insider directly owned 27,602 shares in the company, valued at approximately $1,619,685.36. This trade represents a 19.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 3.50% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on MTX shares. Weiss Ratings restated 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 raised shares of Minerals Technologies from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 14th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $84.00.

Minerals Technologies Profile

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.