Handelsbanken Fonder AB Buys 700 Shares of Minerals Technologies Inc. (NYSE:MTX)

Handelsbanken Fonder AB increased its stake in Minerals Technologies Inc. (NYSE:MTX) by 9.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,037 shares of the basic materials company’s stock after purchasing an additional 700 shares during the period. Handelsbanken Fonder AB’s holdings in Minerals Technologies were worth $612,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. FMR LLC grew its position in Minerals Technologies by 64.2% in the third quarter. FMR LLC now owns 1,234,719 shares of the basic materials company’s stock valued at $95,357,000 after acquiring an additional 482,674 shares during the last quarter. Barclays PLC grew its position in Minerals Technologies by 210.1% in the third quarter. Barclays PLC now owns 111,526 shares of the basic materials company’s stock valued at $8,615,000 after acquiring an additional 75,565 shares during the last quarter. Edgestream Partners L.P. bought a new position in Minerals Technologies in the third quarter valued at about $4,049,000. State Street Corp grew its position in Minerals Technologies by 2.6% in the third quarter. State Street Corp now owns 1,268,792 shares of the basic materials company’s stock valued at $97,989,000 after acquiring an additional 32,196 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Minerals Technologies by 3.8% in the third quarter. Geode Capital Management LLC now owns 865,343 shares of the basic materials company’s stock valued at $66,841,000 after acquiring an additional 31,616 shares during the last quarter. Institutional investors own 97.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MTX. StockNews.com cut Minerals Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Truist Financial reduced their price target on Minerals Technologies from $103.00 to $101.00 and set a “buy” rating on the stock in a report on Monday, February 10th.

Minerals Technologies Stock Performance

NYSE:MTX opened at $68.69 on Friday. The stock has a market cap of $2.19 billion, a P/E ratio of 13.26 and a beta of 1.30. The company has a current ratio of 2.84, a quick ratio of 1.98 and a debt-to-equity ratio of 0.54. The stock’s 50-day moving average is $74.32 and its 200-day moving average is $76.20. Minerals Technologies Inc. has a 1-year low of $67.71 and a 1-year high of $90.29.

Minerals Technologies (NYSE:MTX) last released its quarterly earnings results on Thursday, February 6th. The basic materials company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.11. Minerals Technologies had a return on equity of 11.49% and a net margin of 7.89%. Equities research analysts anticipate that Minerals Technologies Inc. will post 6.62 earnings per share for the current year.

Minerals Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.64%. The ex-dividend date is Friday, February 14th. Minerals Technologies’s dividend payout ratio (DPR) is currently 8.49%.

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.