24,007 Shares in Minerals Technologies Inc. $MTX Purchased by Ieq Capital LLC

Ieq Capital LLC acquired a new stake in Minerals Technologies Inc. (NYSE:MTX) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 24,007 shares of the basic materials company’s stock, valued at approximately $1,776,000. Ieq Capital LLC owned about 0.08% of Minerals Technologies at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Allworth Financial LP acquired a new position in Minerals Technologies during the second quarter worth about $27,000. Great Lakes Advisors LLC purchased a new position in shares of Minerals Technologies during the 2nd quarter worth approximately $4,037,000. BlackRock Inc. purchased a new position in shares of Minerals Technologies during the 2nd quarter worth approximately $361,721,000. Deutsche Bank AG acquired a new position in shares of Minerals Technologies during the 2nd quarter worth approximately $2,484,000. Finally, Persistent Asset Partners Ltd acquired a new position in shares of Minerals Technologies during the 2nd quarter worth approximately $50,000. 97.29% of the stock is currently owned by hedge funds and other institutional investors.

Minerals Technologies Stock Up 0.0%

MTX stock opened at $71.95 on Wednesday. The company has a 50 day moving average price of $74.33 and a two-hundred day moving average price of $73.49. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.00 and a current ratio of 1.43. The stock has a market capitalization of $2.24 billion, a P/E ratio of -33.16 and a beta of 1.14. Minerals Technologies Inc. has a one year low of $53.94 and a one year high of $84.34.

Minerals Technologies (NYSE:MTX) last issued its quarterly earnings results on Thursday, July 30th. The basic materials company reported $1.60 earnings per share for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.04). Minerals Technologies had a positive return on equity of 10.63% and a negative net margin of 3.13%.The business had revenue of $548.40 million for the quarter, compared to analysts’ expectations of $558.77 million. During the same period in the prior year, the company earned $1.55 EPS. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, sell-side analysts expect that Minerals Technologies Inc. will post 6.03 EPS for the current year.

Minerals Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Friday, August 14th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, August 14th. This represents a $0.48 annualized dividend and a yield of 0.7%. Minerals Technologies’s dividend payout ratio is -22.12%.

Wall Street Analysts Forecast Growth

MTX has been the topic of a number of analyst reports. Weiss Ratings cut Minerals Technologies from a “hold (c+)” rating to a “sell (d+)” rating in a report on Monday, August 3rd. Wall Street Zen downgraded Minerals Technologies from a “strong-buy” rating to a “hold” rating in a research report on Saturday, August 8th. Truist Financial lifted their price objective on Minerals Technologies from $89.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Finally, Seaport Research Partners reissued a “buy” rating on shares of Minerals Technologies in a research note on Monday, May 4th. One investment 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 MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $90.00.

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.