Truist Financial Corp Acquires Shares of 3,291 Minerals Technologies Inc. (NYSE:MTX)

Truist Financial Corp acquired a new stake in shares of Minerals Technologies Inc. (NYSE:MTX) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,291 shares of the basic materials company’s stock, valued at approximately $274,000.

Several other large investors have also recently made changes to their positions in the company. Picton Mahoney Asset Management purchased a new position in Minerals Technologies during the 2nd quarter valued at approximately $52,000. Innealta Capital LLC purchased a new position in shares of Minerals Technologies in the second quarter valued at $76,000. Quarry LP increased its position in Minerals Technologies by 1,857.4% in the second quarter. Quarry LP now owns 920 shares of the basic materials company’s stock worth $77,000 after purchasing an additional 873 shares during the last quarter. Fidelis Capital Partners LLC purchased a new stake in Minerals Technologies during the first quarter valued at $77,000. Finally, CWM LLC lifted its position in Minerals Technologies by 585.6% during the second 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 during the last quarter. 97.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Minerals Technologies Price Performance

Minerals Technologies stock opened at $80.03 on Friday. Minerals Technologies Inc. has a 12-month low of $50.30 and a 12-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 firm has a 50-day moving average price of $74.79 and a 200-day moving average price of $78.09. The firm has a market capitalization of $2.58 billion, a PE ratio of 27.69 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 EPS for the quarter, topping the consensus estimate of $1.60 by $0.05. The company had revenue of $541.20 million for the quarter, compared to the consensus estimate of $561.60 million. Minerals Technologies had a return on equity of 11.46% and a net margin of 4.05%. Minerals Technologies’s quarterly revenue was down 1.9% on a year-over-year basis. During the same period last year, the business posted $1.31 EPS. As a group, equities research analysts forecast that Minerals Technologies Inc. will post 6.22 EPS for the current year.

Minerals Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, October 31st will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.55%. The ex-dividend date is Thursday, October 31st. This is a positive change from Minerals Technologies’s previous quarterly dividend of $0.10. Minerals Technologies’s payout ratio 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.