ClearAlpha Technologies LP Invests $309,000 in Minerals Technologies Inc. (NYSE:MTX)

ClearAlpha Technologies LP purchased a new position in shares of Minerals Technologies Inc. (NYSE:MTX) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,996 shares of the basic materials company’s stock, valued at approximately $309,000.

Other large investors have also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management acquired a new position in Minerals Technologies during the 2nd quarter worth approximately $52,000. Blue Trust Inc. grew its holdings in Minerals Technologies by 2,418.2% during the third quarter. Blue Trust Inc. now owns 831 shares of the basic materials company’s stock worth $69,000 after acquiring an additional 798 shares during the period. Innealta Capital LLC purchased a new position in Minerals Technologies in the second quarter worth $76,000. Quarry LP lifted its holdings in Minerals Technologies by 1,857.4% in the second quarter. Quarry LP now owns 920 shares of the basic materials company’s stock valued at $77,000 after acquiring an additional 873 shares during the period. Finally, CWM LLC boosted its position in shares of Minerals Technologies by 585.6% during the 2nd quarter. CWM LLC now owns 1,330 shares of the basic materials company’s stock worth $111,000 after purchasing an additional 1,136 shares in the last quarter. 97.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Minerals Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th.

Minerals Technologies Stock Performance

Shares of MTX stock opened at $83.14 on Tuesday. The stock has a fifty day moving average price of $78.62 and a 200 day moving average price of $79.23. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.72 and a current ratio of 2.46. The stock has a market cap of $2.65 billion, a PE ratio of 17.61 and a beta of 1.30. Minerals Technologies Inc. has a 1 year low of $62.49 and a 1 year high of $90.29.

Minerals Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend is Thursday, October 31st. This is an increase from Minerals Technologies’s previous quarterly dividend of $0.10. Minerals Technologies’s payout ratio is 9.32%.

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.