Victory Capital Management Inc. Sells 148,193 Shares of Minerals Technologies Inc. (NYSE:MTX)

Victory Capital Management Inc. decreased its stake in shares of Minerals Technologies Inc. (NYSE:MTX) by 9.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,363,757 shares of the basic materials company’s stock after selling 148,193 shares during the quarter. Victory Capital Management Inc. owned approximately 4.24% of Minerals Technologies worth $113,410,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Parallel Advisors LLC increased its position in shares of Minerals Technologies by 97.9% during the fourth quarter. Parallel Advisors LLC now owns 556 shares of the basic materials company’s stock worth $40,000 after acquiring an additional 275 shares during the period. Picton Mahoney Asset Management bought a new position in Minerals Technologies in the second quarter worth approximately $52,000. Innealta Capital LLC purchased a new position in Minerals Technologies during the 2nd quarter worth $76,000. Fidelis Capital Partners LLC purchased a new position in Minerals Technologies during the 1st quarter worth $77,000. Finally, CWM LLC raised its position in Minerals Technologies by 585.6% during the 2nd quarter. CWM LLC now owns 1,330 shares of the basic materials company’s stock valued at $111,000 after purchasing an additional 1,136 shares in the last quarter. Institutional investors own 97.29% of the company’s stock.

Insider Activity at Minerals Technologies

In other Minerals Technologies news, insider Brett Argirakis sold 2,259 shares of the company’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $83.95, for a total transaction of $189,643.05. Following the completion of the sale, the insider now owns 23,102 shares in the company, valued at $1,939,412.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Minerals Technologies news, insider Brett Argirakis sold 2,259 shares of Minerals Technologies stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $83.95, for a total value of $189,643.05. Following the transaction, the insider now owns 23,102 shares in the company, valued at $1,939,412.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jonathan J. Hastings sold 8,964 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $85.42, for a total transaction of $765,704.88. Following the completion of the transaction, the senior vice president now owns 53,862 shares of the company’s stock, valued at $4,600,892.04. The disclosure for this sale can be found here. Insiders have sold a total of 25,452 shares of company stock valued at $2,145,319 over the last ninety days. 3.50% of the stock is owned by company insiders.

Minerals Technologies Price Performance

Shares of MTX stock opened at $71.88 on Friday. Minerals Technologies Inc. has a twelve month low of $48.61 and a twelve month high of $90.29. The company has a current ratio of 2.46, a quick ratio of 1.72 and a debt-to-equity ratio of 0.53. The stock has a fifty day simple moving average of $78.32 and a two-hundred day simple moving average of $77.67. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of 24.87 and a beta of 1.30.

Minerals Technologies (NYSE:MTX) last released its quarterly earnings data on Thursday, July 25th. The basic materials company reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.05. The company had revenue of $541.20 million during the quarter, compared to analyst estimates of $561.60 million. Minerals Technologies had a net margin of 4.05% and a return on equity of 11.46%. The firm’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.31 earnings per share. On average, analysts predict that Minerals Technologies Inc. will post 6.22 EPS for the current fiscal year.

Minerals Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 16th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.56%. Minerals Technologies’s dividend payout ratio is presently 13.84%.

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.