Algert Global LLC Purchases 23,286 Shares of Minerals Technologies Inc. (NYSE:MTX)

Algert Global LLC grew its position in shares of Minerals Technologies Inc. (NYSE:MTX) by 131.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 40,956 shares of the basic materials company’s stock after buying an additional 23,286 shares during the quarter. Algert Global LLC owned 0.13% of Minerals Technologies worth $3,406,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Minerals Technologies in the 4th quarter worth approximately $19,192,000. US Bancorp DE raised its holdings in shares of Minerals Technologies by 1.6% in the 4th quarter. US Bancorp DE now owns 12,457 shares of the basic materials company’s stock worth $888,000 after purchasing an additional 196 shares during the period. Parallel Advisors LLC raised its holdings 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 worth $40,000 after purchasing an additional 275 shares during the period. Evoke Wealth LLC bought a new stake in shares of Minerals Technologies in the 4th quarter worth approximately $328,000. Finally, Keeley Teton Advisors LLC raised its holdings in shares of Minerals Technologies by 12.0% in the 4th quarter. Keeley Teton Advisors LLC now owns 29,854 shares of the basic materials company’s stock worth $2,129,000 after purchasing an additional 3,187 shares during the period. Institutional investors own 97.29% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Minerals Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, September 25th.

Minerals Technologies Stock Performance

Minerals Technologies stock opened at $77.23 on Tuesday. The company has a quick ratio of 1.72, a current ratio of 2.46 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $2.49 billion, a PE ratio of 26.72 and a beta of 1.30. The firm has a fifty day simple moving average of $75.13 and a two-hundred day simple moving average of $77.85. Minerals Technologies Inc. has a twelve month low of $48.61 and a twelve month high of $90.29.

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

Minerals Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 16th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date was Friday, August 16th. Minerals Technologies’s payout ratio is currently 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.