LSV Asset Management Takes $1.42 Million Position in Minerals Technologies Inc. (NYSE:MTX)

LSV Asset Management bought a new stake in Minerals Technologies Inc. (NYSE:MTX) during the second quarter, HoldingsChannel.com reports. The fund bought 17,100 shares of the basic materials company’s stock, valued at approximately $1,422,000.

A number of other hedge funds have also made changes to their positions in MTX. Parallel Advisors LLC raised its stake in shares of Minerals Technologies by 97.9% in the 4th quarter. Parallel Advisors LLC now owns 556 shares of the basic materials company’s stock valued at $40,000 after acquiring an additional 275 shares during the period. Picton Mahoney Asset Management purchased a new position in shares of Minerals Technologies in the 2nd quarter valued at $52,000. Innealta Capital LLC purchased a new stake in Minerals Technologies during the 2nd quarter worth $76,000. Fidelis Capital Partners LLC purchased a new stake in Minerals Technologies during the 1st quarter worth $77,000. Finally, CWM LLC increased its stake in Minerals Technologies by 585.6% during the 2nd quarter. CWM LLC now owns 1,330 shares of the basic materials company’s stock worth $111,000 after buying an additional 1,136 shares during the period. Hedge funds and other institutional investors own 97.29% of the company’s stock.

Insider Buying and Selling

In other Minerals Technologies news, insider Dj Monagle III sold 14,229 shares of the firm’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $83.63, for a total transaction of $1,189,971.27. Following the completion of the transaction, the insider now directly owns 79,731 shares of the company’s stock, valued at approximately $6,667,903.53. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Minerals Technologies news, insider Dj Monagle III sold 14,229 shares of the firm’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $83.63, for a total transaction of $1,189,971.27. Following the completion of the transaction, the insider now directly owns 79,731 shares of the company’s stock, valued at approximately $6,667,903.53. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Brett Argirakis sold 2,259 shares of the firm’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 transaction, the insider now directly owns 23,102 shares of the company’s stock, valued at $1,939,412.90. The disclosure for this sale can be found here. 3.50% of the stock is currently owned by insiders.

Minerals Technologies Stock Performance

Minerals Technologies stock opened at $71.50 on Friday. Minerals Technologies Inc. has a 12-month low of $48.61 and a 12-month high of $90.29. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of 24.74 and a beta of 1.30. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.46 and a quick ratio of 1.72. The firm’s fifty day moving average price is $77.48 and its 200 day moving average price is $77.67.

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

Minerals Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 16th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.56%. The ex-dividend date was Friday, August 16th. Minerals Technologies’s dividend payout ratio (DPR) is 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.