Boston Partners raised its position in Minerals Technologies Inc. (NYSE:MTX) by 2.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 517,935 shares of the company’s stock after purchasing an additional 11,226 shares during the period. Boston Partners owned 1.48% of Minerals Technologies worth $36,592,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in MTX. Macquarie Group Ltd. boosted its holdings in Minerals Technologies by 20.6% in the 2nd quarter. Macquarie Group Ltd. now owns 1,082,223 shares of the company’s stock valued at $79,219,000 after purchasing an additional 184,867 shares during the period. Vaughan Nelson Investment Management L.P. boosted its holdings in Minerals Technologies by 26.5% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 480,675 shares of the company’s stock valued at $35,185,000 after purchasing an additional 100,600 shares during the period. American Century Companies Inc. boosted its holdings in Minerals Technologies by 16.6% in the 3rd quarter. American Century Companies Inc. now owns 609,589 shares of the company’s stock valued at $43,067,000 after purchasing an additional 86,577 shares during the period. Prudential Financial Inc. boosted its holdings in Minerals Technologies by 87.5% in the 3rd quarter. Prudential Financial Inc. now owns 119,724 shares of the company’s stock valued at $8,458,000 after purchasing an additional 55,878 shares during the period. Finally, Voya Investment Management LLC boosted its holdings in Minerals Technologies by 8.1% in the 2nd quarter. Voya Investment Management LLC now owns 735,179 shares of the company’s stock valued at $53,815,000 after purchasing an additional 54,830 shares during the period. 94.36% of the stock is owned by hedge funds and other institutional investors.
Shares of Minerals Technologies Inc. (NYSE:MTX) opened at C$71.30 on Monday. The company has a current ratio of 2.66, a quick ratio of 1.98 and a debt-to-equity ratio of 0.82. The firm has a market cap of $2,521.66, a price-to-earnings ratio of 15.60 and a beta of 2.26. Minerals Technologies Inc. has a 52-week low of C$62.55 and a 52-week high of C$83.85.
Minerals Technologies (NYSE:MTX) last posted its quarterly earnings data on Thursday, November 2nd. The company reported C$1.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of C$1.17 by C$0.02. The firm had revenue of C$424.40 million for the quarter, compared to analysts’ expectations of C$404.80 million. Minerals Technologies had a net margin of 9.48% and a return on equity of 14.59%. The business’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the company posted $1.17 EPS. sell-side analysts expect that Minerals Technologies Inc. will post 4.6 earnings per share for the current year.
Minerals Technologies announced that its board has authorized a stock buyback plan on Thursday, September 21st that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 6.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.
In other news, insider Dj Monagle III sold 25,639 shares of the firm’s stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of C$70.03, for a total transaction of C$1,795,499.17. Following the sale, the insider now owns 39,579 shares in the company, valued at approximately C$2,771,717.37. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 2.20% of the company’s stock.
Several research analysts have commented on the stock. ValuEngine downgraded shares of Minerals Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Zacks Investment Research raised shares of Minerals Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, October 25th. Finally, KeyCorp restated a “hold” rating on shares of Minerals Technologies in a research report on Monday, November 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of C$80.00.
About Minerals Technologies
Minerals Technologies Inc is a resource- and technology-based company that develops, produces and markets a range of specialty mineral, mineral-based and synthetic mineral products and related systems and services around the world. It operates through four segments. The Specialty Minerals segment produces and sells the synthetic mineral product precipitated calcium carbonate (PCC), mines mineral ores, and processes and sells natural mineral products, primarily limestone and talc.
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