Point72 Asia Singapore Pte. Ltd. Sells 1,218 Shares of Minerals Technologies Inc. (NYSE:MTX)

Point72 Asia Singapore Pte. Ltd. trimmed its holdings in shares of Minerals Technologies Inc. (NYSE:MTX) by 33.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,372 shares of the basic materials company’s stock after selling 1,218 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Minerals Technologies were worth $197,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Minerals Technologies by 0.7% during the first quarter. Vanguard Group Inc. now owns 3,738,256 shares of the basic materials company’s stock worth $281,416,000 after purchasing an additional 25,056 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Minerals Technologies by 0.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,296,727 shares of the basic materials company’s stock worth $190,996,000 after buying an additional 15,563 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Minerals Technologies by 2.9% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 528,945 shares of the basic materials company’s stock valued at $43,987,000 after buying an additional 14,909 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Minerals Technologies by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 322,706 shares of the basic materials company’s stock valued at $26,836,000 after buying an additional 2,715 shares during the period. Finally, Wellington Management Group LLP raised its position in shares of Minerals Technologies by 9.1% during the fourth quarter. Wellington Management Group LLP now owns 273,941 shares of the basic materials company’s stock worth $19,535,000 after acquiring an additional 22,857 shares during the last quarter. 97.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Minerals Technologies from a “hold” rating to a “buy” rating in a report on Wednesday.

Minerals Technologies Stock Up 2.4 %

Shares of NYSE:MTX opened at $75.80 on Friday. Minerals Technologies Inc. has a 1 year low of $48.61 and a 1 year high of $90.29. 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 business’s 50-day moving average is $75.53 and its 200-day moving average is $77.77. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of 26.23 and a beta of 1.30.

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

Minerals Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 16th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend was Friday, August 16th. Minerals Technologies’s payout ratio is 13.84%.

Minerals Technologies Company 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.