Connor Clark & Lunn Investment Management Ltd. Trims Stock Position in Minerals Technologies Inc. (NYSE:MTX)

Connor Clark & Lunn Investment Management Ltd. lowered its holdings in shares of Minerals Technologies Inc. (NYSE:MTX) by 31.4% in the fourth quarter, Holdings Channel reports. The firm owned 13,440 shares of the basic materials company’s stock after selling 6,149 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Minerals Technologies were worth $1,024,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Smartleaf Asset Management LLC boosted its stake in Minerals Technologies by 181.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 506 shares of the basic materials company’s stock worth $38,000 after purchasing an additional 326 shares during the period. Blue Trust Inc. lifted its stake in shares of Minerals Technologies by 21.4% in the 4th quarter. Blue Trust Inc. now owns 1,009 shares of the basic materials company’s stock worth $78,000 after acquiring an additional 178 shares during the period. Venturi Wealth Management LLC acquired a new stake in shares of Minerals Technologies in the 4th quarter worth $78,000. KBC Group NV lifted its stake in shares of Minerals Technologies by 43.9% in the 4th quarter. KBC Group NV now owns 1,478 shares of the basic materials company’s stock worth $113,000 after acquiring an additional 451 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Minerals Technologies in the 4th quarter worth $145,000. Institutional investors and hedge funds own 97.29% of the company’s stock.

Minerals Technologies Stock Performance

Shares of MTX opened at $67.07 on Friday. The company has a 50-day simple moving average of $72.06 and a 200-day simple moving average of $75.46. The company has a quick ratio of 1.98, a current ratio of 2.84 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $2.14 billion, a PE ratio of 12.95 and a beta of 1.28. Minerals Technologies Inc. has a 52-week low of $65.64 and a 52-week high of $90.30.

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

Minerals Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 14th were issued a dividend of $0.11 per share. The ex-dividend date was Friday, February 14th. This represents a $0.44 annualized dividend and a yield of 0.66%. Minerals Technologies’s dividend payout ratio (DPR) is currently 8.49%.

Wall Street Analyst Weigh In

Several research firms have recently commented on MTX. Truist Financial reduced their target price on shares of Minerals Technologies from $103.00 to $101.00 and set a “buy” rating for the company in a research note on Monday, February 10th. StockNews.com downgraded shares of Minerals Technologies from a “buy” rating to a “hold” rating in a report on Wednesday.

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.