Minerals Technologies Inc. (NYSE:MTX) Shares Purchased by AQR Capital Management LLC

AQR Capital Management LLC raised its position in Minerals Technologies Inc. (NYSE:MTX) by 53.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 85,355 shares of the basic materials company’s stock after buying an additional 29,818 shares during the period. AQR Capital Management LLC’s holdings in Minerals Technologies were worth $7,070,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Minerals Technologies by 0.7% in the first quarter. Vanguard Group Inc. now owns 3,738,256 shares of the basic materials company’s stock valued at $281,416,000 after buying an additional 25,056 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Minerals Technologies by 0.7% in 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 purchasing an additional 15,563 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Minerals Technologies by 2.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 528,945 shares of the basic materials company’s stock worth $43,987,000 after purchasing an additional 14,909 shares during the last quarter. Bank of New York Mellon Corp grew its position 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 purchasing an additional 2,715 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Minerals Technologies by 9.1% in the fourth quarter. Wellington Management Group LLP now owns 273,941 shares of the basic materials company’s stock valued at $19,535,000 after purchasing an additional 22,857 shares during the last quarter. Institutional investors and hedge funds own 97.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Minerals Technologies from a “buy” rating to a “hold” rating in a research note on Thursday.

Minerals Technologies Stock Performance

Minerals Technologies stock opened at $74.92 on Friday. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of 25.92 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 has a 50 day simple moving average of $74.17 and a 200-day simple moving average of $77.89. Minerals Technologies Inc. has a 1-year low of $48.61 and a 1-year high of $90.29.

Minerals Technologies (NYSE:MTX) last posted its 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 return on equity of 11.46% and a net margin of 4.05%. The company had revenue of $541.20 million during the quarter, compared to analysts’ expectations of $561.60 million. During the same quarter last year, the firm earned $1.31 earnings per share. The firm’s quarterly revenue was down 1.9% compared to the same quarter last year. On average, analysts expect that Minerals Technologies Inc. will post 6.22 EPS for the current year.

Minerals Technologies Dividend Announcement

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

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.