Renaissance Technologies LLC Acquires New Stake in Minerals Technologies Inc. (NYSE:MTX)

Renaissance Technologies LLC bought a new position in shares of Minerals Technologies Inc. (NYSE:MTX) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 18,800 shares of the basic materials company’s stock, valued at approximately $1,563,000. Renaissance Technologies LLC owned about 0.06% of Minerals Technologies as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its stake in shares of Minerals Technologies by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,296,727 shares of the basic materials company’s stock worth $190,996,000 after acquiring an additional 15,563 shares during the period. Quest Partners LLC raised its holdings in Minerals Technologies by 96.9% during the 2nd quarter. Quest Partners LLC now owns 24,937 shares of the basic materials company’s stock worth $2,074,000 after purchasing an additional 12,274 shares during the last quarter. LSV Asset Management acquired a new position in shares of Minerals Technologies in the 2nd quarter worth approximately $1,422,000. Acadian Asset Management LLC boosted its stake in shares of Minerals Technologies by 95.4% in the 2nd quarter. Acadian Asset Management LLC now owns 83,051 shares of the basic materials company’s stock valued at $6,901,000 after purchasing an additional 40,551 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Minerals Technologies during the second quarter worth $482,000. 97.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Minerals Technologies Trading Up 1.4 %

Shares of MTX stock opened at $76.00 on Friday. The company has a market cap of $2.45 billion, a P/E ratio of 26.30 and a beta of 1.30. Minerals Technologies Inc. has a fifty-two week low of $48.61 and a fifty-two week high of $90.29. The stock has a 50 day simple moving average of $74.08 and a two-hundred day simple moving average of $77.92. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.72 and a current ratio of 2.46.

Minerals Technologies (NYSE:MTX) last released its quarterly earnings data on Thursday, July 25th. The basic materials company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.05. The company had revenue of $541.20 million during the quarter, compared to analyst estimates of $561.60 million. Minerals Technologies had a net margin of 4.05% and a return on equity of 11.46%. Minerals Technologies’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.31 EPS. Research analysts forecast that Minerals Technologies Inc. will post 6.22 earnings per share for the current year.

Minerals Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 16th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.53%. Minerals Technologies’s dividend payout ratio (DPR) is presently 13.84%.

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.