Minerals Technologies Inc. (NYSE:MTX) Stock Position Lowered by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp decreased its position in Minerals Technologies Inc. (NYSE:MTX) by 14.5% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 24,358 shares of the basic materials company’s stock after selling 4,124 shares during the period. Texas Permanent School Fund Corp’s holdings in Minerals Technologies were worth $2,026,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of MTX. US Bancorp DE lifted its holdings in Minerals Technologies by 1.6% in the 4th quarter. US Bancorp DE now owns 12,457 shares of the basic materials company’s stock valued at $888,000 after acquiring an additional 196 shares during the last quarter. Parallel Advisors LLC raised its holdings in shares of Minerals Technologies by 97.9% in the 4th quarter. Parallel Advisors LLC now owns 556 shares of the basic materials company’s stock worth $40,000 after purchasing an additional 275 shares in the last quarter. ProShare Advisors LLC raised its holdings in shares of Minerals Technologies by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 6,563 shares of the basic materials company’s stock worth $494,000 after purchasing an additional 452 shares in the last quarter. Summit Global Investments lifted its stake in Minerals Technologies by 2.6% during the second quarter. Summit Global Investments now owns 18,799 shares of the basic materials company’s stock valued at $1,563,000 after purchasing an additional 480 shares during the last quarter. Finally, Picton Mahoney Asset Management bought a new stake in Minerals Technologies during the second quarter worth approximately $52,000. Institutional investors own 97.29% of the company’s stock.

Minerals Technologies Price Performance

NYSE MTX opened at $71.58 on Wednesday. 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 $48.61 and a 1 year high of $90.29. The company has a market cap of $2.31 billion, a PE ratio of 24.77 and a beta of 1.30. The stock’s 50-day moving average price is $76.95 and its two-hundred day moving average price is $77.76.

Minerals Technologies (NYSE:MTX) last issued its quarterly earnings results on Thursday, July 25th. The basic materials company reported $1.65 EPS for the quarter, beating the consensus estimate of $1.60 by $0.05. Minerals Technologies had a net margin of 4.05% and a return on equity of 11.46%. The business had revenue of $541.20 million during the quarter, compared to the consensus estimate of $561.60 million. During the same quarter in the prior year, the firm earned $1.31 EPS. The firm’s quarterly revenue was down 1.9% on a year-over-year basis. On average, analysts predict that Minerals Technologies Inc. will post 6.22 EPS for the current year.

Minerals Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 16th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.40 annualized dividend and a dividend yield of 0.56%. Minerals Technologies’s dividend payout ratio (DPR) is 13.84%.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Minerals Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday.

Insider Activity

In other Minerals Technologies news, insider Dj Monagle III sold 14,229 shares of the stock in a transaction on Monday, June 24th. The shares were sold at an average price of $83.63, for a total transaction of $1,189,971.27. Following the transaction, the insider now directly owns 79,731 shares of the company’s stock, valued at $6,667,903.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.50% of the stock is owned by insiders.

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.