Summit Global Investments Sells 7,363 Shares of Minerals Technologies Inc. (NYSE:MTX)

Summit Global Investments decreased its holdings in shares of Minerals Technologies Inc. (NYSE:MTX) by 39.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,436 shares of the basic materials company’s stock after selling 7,363 shares during the period. Summit Global Investments’ holdings in Minerals Technologies were worth $883,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Picton Mahoney Asset Management bought a new position in Minerals Technologies during the 2nd quarter valued at approximately $52,000. Blue Trust Inc. raised its position in shares of Minerals Technologies by 2,418.2% in the 3rd quarter. Blue Trust Inc. now owns 831 shares of the basic materials company’s stock worth $69,000 after purchasing an additional 798 shares during the last quarter. Innealta Capital LLC bought a new position in Minerals Technologies in the 2nd quarter worth about $76,000. Quarry LP boosted its stake in Minerals Technologies by 1,857.4% in the 2nd quarter. Quarry LP now owns 920 shares of the basic materials company’s stock worth $77,000 after purchasing an additional 873 shares in the last quarter. Finally, CWM LLC grew its position in Minerals Technologies by 585.6% during the 2nd 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 currently owned by hedge funds and other institutional investors.

Minerals Technologies Stock Performance

Shares of MTX opened at $82.49 on Friday. Minerals Technologies Inc. has a 12 month low of $57.93 and a 12 month high of $90.29. The business’s fifty day simple moving average is $75.78 and its two-hundred day simple moving average is $78.69. The company has a current ratio of 2.46, a quick ratio of 1.72 and a debt-to-equity ratio of 0.51. The company has a market cap of $2.63 billion, a price-to-earnings ratio of 17.48 and a beta of 1.31.

Minerals Technologies Increases Dividend

The firm also recently disclosed 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 represents a $0.44 annualized dividend and a yield of 0.53%. This is an increase from Minerals Technologies’s previous quarterly dividend of $0.10. The ex-dividend date is Thursday, October 31st. Minerals Technologies’s dividend payout ratio (DPR) is presently 9.32%.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Minerals Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th.

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.