Allspring Global Investments Holdings LLC Cuts Stake in Minerals Technologies Inc. (NYSE:MTX)

Allspring Global Investments Holdings LLC cut its position in Minerals Technologies Inc. (NYSE:MTX) by 4.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 503,717 shares of the basic materials company’s stock after selling 25,228 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Minerals Technologies were worth $38,902,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. UniSuper Management Pty Ltd purchased a new position in Minerals Technologies in the 1st quarter worth approximately $628,000. Panagora Asset Management Inc. lifted its holdings in shares of Minerals Technologies by 13.9% during the second quarter. Panagora Asset Management Inc. now owns 211,382 shares of the basic materials company’s stock valued at $17,579,000 after purchasing an additional 25,831 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Minerals Technologies by 27.6% during the first quarter. BNP Paribas Financial Markets now owns 44,236 shares of the basic materials company’s stock valued at $3,330,000 after buying an additional 9,580 shares during the last quarter. Boston Partners purchased a new stake in shares of Minerals Technologies during the first quarter valued at $1,058,000. Finally, Acadian Asset Management LLC increased its holdings in Minerals Technologies by 100.1% in the 1st quarter. Acadian Asset Management LLC now owns 42,500 shares of the basic materials company’s stock worth $3,197,000 after buying an additional 21,259 shares in the last quarter. Institutional investors own 97.29% of the company’s stock.

Minerals Technologies Price Performance

Shares of MTX opened at $77.17 on Wednesday. The firm has a fifty day simple moving average of $75.02 and a two-hundred day simple moving average of $78.19. The firm has a market cap of $2.49 billion, a PE ratio of 26.70 and a beta of 1.30. The company has a current ratio of 2.46, a quick ratio of 1.72 and a debt-to-equity ratio of 0.53. Minerals Technologies Inc. has a 1-year low of $50.30 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 for the quarter, beating analysts’ consensus estimates 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 revenue was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.31 earnings per share. On average, equities analysts anticipate 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. Investors of record on Thursday, October 31st will be issued a $0.11 dividend. This is a boost from Minerals Technologies’s previous quarterly dividend of $0.10. This represents a $0.44 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date is Thursday, October 31st. Minerals Technologies’s dividend payout ratio (DPR) is currently 15.22%.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Minerals Technologies from a “buy” rating to a “hold” rating in a report on Saturday.

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.