Minerals Technologies Inc. (NYSE:MTX) Stake Decreased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its holdings in shares of Minerals Technologies Inc. (NYSE:MTX) by 13.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,496 shares of the basic materials company’s stock after selling 695 shares during the period. PNC Financial Services Group Inc.’s holdings in Minerals Technologies were worth $321,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Minerals Technologies during the fourth quarter valued at $19,192,000. State of Alaska Department of Revenue increased its stake in Minerals Technologies by 116.3% during the 4th quarter. State of Alaska Department of Revenue now owns 43,822 shares of the basic materials company’s stock valued at $3,124,000 after buying an additional 23,559 shares during the period. Chesapeake Capital Corp IL bought a new stake in shares of Minerals Technologies during the 4th quarter worth about $1,027,000. Wellington Management Group LLP raised its position in shares of Minerals Technologies by 9.1% during the 4th quarter. Wellington Management Group LLP now owns 273,941 shares of the basic materials company’s stock worth $19,535,000 after buying an additional 22,857 shares in the last quarter. Finally, Qube Research & Technologies Ltd lifted its stake in shares of Minerals Technologies by 42.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 67,861 shares of the basic materials company’s stock worth $3,716,000 after acquiring an additional 20,243 shares during the period. 97.29% of the stock is owned by institutional investors.

Minerals Technologies Price Performance

NYSE MTX opened at $83.16 on Friday. Minerals Technologies Inc. has a 12 month low of $48.61 and a 12 month high of $87.46. The firm has a market capitalization of $2.68 billion, a PE ratio of 28.78 and a beta of 1.31. The company’s 50 day simple moving average is $81.24 and its 200 day simple moving average is $74.20. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.49 and a quick ratio of 1.75.

Minerals Technologies (NYSE:MTX) last posted its quarterly earnings data on Thursday, April 25th. The basic materials company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.22. The company had revenue of $534.50 million for the quarter, compared to the consensus estimate of $545.55 million. Minerals Technologies had a return on equity of 10.87% and a net margin of 4.35%. The company’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.14 EPS. As a group, equities research analysts forecast that Minerals Technologies Inc. will post 6.29 EPS for the current fiscal year.

Minerals Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Friday, May 31st were given a dividend of $0.10 per share. The ex-dividend date was Friday, May 31st. This represents a $0.40 annualized dividend and a dividend yield of 0.48%. Minerals Technologies’s dividend payout ratio (DPR) is 13.84%.

Insider Transactions at Minerals Technologies

In related news, CEO Douglas T. Dietrich sold 12,010 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $84.85, for a total transaction of $1,019,048.50. Following the completion of the sale, the chief executive officer now directly owns 145,547 shares of the company’s stock, valued at $12,349,662.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Minerals Technologies news, insider Brett Argirakis sold 2,259 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $83.95, for a total transaction of $189,643.05. Following the sale, the insider now owns 23,102 shares in the company, valued at approximately $1,939,412.90. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Douglas T. Dietrich sold 12,010 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $84.85, for a total transaction of $1,019,048.50. Following the sale, the chief executive officer now directly owns 145,547 shares of the company’s stock, valued at $12,349,662.95. The disclosure for this sale can be found here. Insiders have sold 57,459 shares of company stock valued at $4,842,108 in the last quarter. Insiders own 3.50% of the company’s stock.

About Minerals Technologies

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.