Alambic Investment Management L.P. bought a new stake in Minerals Technologies Inc (NYSE:MTX) in the 4th quarter, Holdings Channel reports. The firm bought 3,800 shares of the basic materials company’s stock, valued at approximately $262,000.
Other institutional investors have also recently bought and sold shares of the company. Tocqueville Asset Management L.P. lifted its holdings in shares of Minerals Technologies by 11.2% in the 3rd quarter. Tocqueville Asset Management L.P. now owns 213,646 shares of the basic materials company’s stock valued at $15,094,000 after purchasing an additional 21,500 shares during the last quarter. FMR LLC purchased a new stake in shares of Minerals Technologies in the 2nd quarter valued at about $1,183,000. Legal & General Group Plc lifted its holdings in shares of Minerals Technologies by 11.3% in the 3rd quarter. Legal & General Group Plc now owns 30,041 shares of the basic materials company’s stock valued at $2,122,000 after purchasing an additional 3,055 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Minerals Technologies in the 2nd quarter valued at about $423,000. Finally, Wells Fargo & Company MN lifted its holdings in shares of Minerals Technologies by 8.1% in the 3rd quarter. Wells Fargo & Company MN now owns 37,364 shares of the basic materials company’s stock valued at $2,639,000 after purchasing an additional 2,796 shares during the last quarter. 95.62% of the stock is owned by institutional investors and hedge funds.
Shares of Minerals Technologies Inc (MTX) opened at $67.50 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.75 and a quick ratio of 2.04. The firm has a market capitalization of $2,320.00, a PE ratio of 12.34 and a beta of 2.29. Minerals Technologies Inc has a fifty-two week low of $62.55 and a fifty-two week high of $80.50.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 8th. Shareholders of record on Friday, February 16th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.30%. The ex-dividend date is Thursday, February 15th. Minerals Technologies’s dividend payout ratio is presently 3.66%.
Several research firms have recently weighed in on MTX. Zacks Investment Research downgraded Minerals Technologies from a “hold” rating to a “sell” rating in a report on Thursday. ValuEngine raised Minerals Technologies from a “hold” rating to a “buy” rating in a report on Thursday, January 4th. Finally, KeyCorp reissued a “hold” rating on shares of Minerals Technologies in a report on Monday, November 6th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. Minerals Technologies has a consensus rating of “Hold” and an average price target of $80.00.
In related news, Director Joseph C. Breunig acquired 800 shares of Minerals Technologies stock in a transaction on Wednesday, February 7th. The stock was purchased at an average cost of $69.36 per share, with a total value of $55,488.00. Following the purchase, the director now directly owns 1,200 shares in the company, valued at $83,232. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.20% of the stock is owned by corporate insiders.
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Minerals Technologies Profile
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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