Thrivent Financial for Lutherans Has $2.03 Million Stock Position in Minerals Technologies Inc. $MTX

Thrivent Financial for Lutherans lowered its holdings in shares of Minerals Technologies Inc. (NYSE:MTX) by 23.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 32,653 shares of the basic materials company’s stock after selling 9,726 shares during the period. Thrivent Financial for Lutherans owned about 0.10% of Minerals Technologies worth $2,028,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. CSM Advisors LLC acquired a new position in shares of Minerals Technologies in the 2nd quarter worth approximately $4,884,000. American Century Companies Inc. raised its stake in Minerals Technologies by 20.3% during the second quarter. American Century Companies Inc. now owns 1,284,532 shares of the basic materials company’s stock worth $70,739,000 after buying an additional 216,453 shares during the last quarter. Isthmus Partners LLC lifted its holdings in Minerals Technologies by 52.7% in the second quarter. Isthmus Partners LLC now owns 30,722 shares of the basic materials company’s stock valued at $1,692,000 after buying an additional 10,602 shares during the period. Blue Trust Inc. boosted its position in Minerals Technologies by 44.6% during the second quarter. Blue Trust Inc. now owns 1,011 shares of the basic materials company’s stock valued at $56,000 after acquiring an additional 312 shares during the last quarter. Finally, CW Advisors LLC grew its holdings in Minerals Technologies by 104.7% during the 2nd quarter. CW Advisors LLC now owns 21,940 shares of the basic materials company’s stock worth $1,208,000 after acquiring an additional 11,224 shares during the period. Institutional investors own 97.29% of the company’s stock.

Minerals Technologies Trading Up 1.5%

Shares of Minerals Technologies stock opened at $74.03 on Thursday. The stock has a market capitalization of $2.30 billion, a PE ratio of -145.15 and a beta of 1.27. Minerals Technologies Inc. has a 52 week low of $49.54 and a 52 week high of $74.48. The stock has a 50 day moving average price of $64.77 and a two-hundred day moving average price of $61.81. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.45 and a current ratio of 2.08.

Minerals Technologies (NYSE:MTX) last issued its earnings results on Thursday, January 29th. The basic materials company reported $1.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.01). The firm had revenue of $519.50 million during the quarter, compared to the consensus estimate of $517.83 million. Minerals Technologies had a positive return on equity of 10.22% and a negative net margin of 0.89%.Minerals Technologies’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.28 earnings per share. As a group, equities analysts anticipate that Minerals Technologies Inc. will post 6.62 earnings per share for the current fiscal year.

Minerals Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 13th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $0.48 annualized dividend and a dividend yield of 0.6%. Minerals Technologies’s payout ratio is presently -94.12%.

Insider Transactions at Minerals Technologies

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

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Zacks Research upgraded Minerals Technologies from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 14th. Wall Street Zen lowered Minerals Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 18th. Truist Financial raised their price objective on shares of Minerals Technologies from $84.00 to $89.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Minerals Technologies in a research report on Monday, December 22nd. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Minerals Technologies presently has an average rating of “Hold” and an average price target of $89.00.

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.