Prudential Financial Inc. Sells 1,556 Shares of Minerals Technologies Inc. (NYSE:MTX)

Prudential Financial Inc. reduced its stake in shares of Minerals Technologies Inc. (NYSE:MTX) by 3.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,198 shares of the basic materials company’s stock after selling 1,556 shares during the quarter. Prudential Financial Inc. owned about 0.15% of Minerals Technologies worth $3,749,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Principal Financial Group Inc. lifted its holdings in Minerals Technologies by 2.7% during the 4th quarter. Principal Financial Group Inc. now owns 166,647 shares of the basic materials company’s stock worth $12,700,000 after buying an additional 4,356 shares in the last quarter. State Street Corp lifted its stake in shares of Minerals Technologies by 2.6% during the third quarter. State Street Corp now owns 1,268,792 shares of the basic materials company’s stock valued at $97,989,000 after acquiring an additional 32,196 shares during the period. JPMorgan Chase & Co. boosted its holdings in Minerals Technologies by 9.7% in the third quarter. JPMorgan Chase & Co. now owns 115,887 shares of the basic materials company’s stock valued at $8,950,000 after acquiring an additional 10,284 shares during the last quarter. Franklin Resources Inc. increased its position in Minerals Technologies by 21.1% in the third quarter. Franklin Resources Inc. now owns 47,847 shares of the basic materials company’s stock worth $3,728,000 after purchasing an additional 8,335 shares during the period. Finally, Y Intercept Hong Kong Ltd raised its holdings in Minerals Technologies by 74.4% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 17,264 shares of the basic materials company’s stock worth $1,316,000 after purchasing an additional 7,364 shares during the last quarter. Institutional investors and hedge funds own 97.29% of the company’s stock.

Minerals Technologies Trading Down 2.0 %

NYSE:MTX opened at $62.29 on Wednesday. The company has a current ratio of 2.84, a quick ratio of 1.98 and a debt-to-equity ratio of 0.54. Minerals Technologies Inc. has a 1-year low of $61.60 and a 1-year high of $90.30. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of 12.03 and a beta of 1.28. The business’s 50-day moving average price is $70.36 and its two-hundred day moving average price is $75.02.

Minerals Technologies (NYSE:MTX) last released its quarterly earnings data on Thursday, February 6th. The basic materials company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.11. Minerals Technologies had a net margin of 7.89% and a return on equity of 11.49%. On average, equities analysts expect that Minerals Technologies Inc. will post 6.62 earnings per share for the current year.

Minerals Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 14th were given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date was Friday, February 14th. Minerals Technologies’s dividend payout ratio is currently 8.49%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MTX. Truist Financial reduced their target price on shares of Minerals Technologies from $103.00 to $101.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. StockNews.com raised shares of Minerals Technologies from a “hold” rating to a “buy” rating in a report on Tuesday.

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.