Kimelman & Baird LLC Sells 1,360 Shares of Minerals Technologies Inc (NYSE:MTX)

Kimelman & Baird LLC lowered its position in Minerals Technologies Inc (NYSE:MTX) by 0.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 142,923 shares of the basic materials company’s stock after selling 1,360 shares during the period. Kimelman & Baird LLC owned approximately 0.41% of Minerals Technologies worth $7,588,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Campbell & CO Investment Adviser LLC boosted its holdings in shares of Minerals Technologies by 60.1% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 12,462 shares of the basic materials company’s stock valued at $662,000 after acquiring an additional 4,678 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of Minerals Technologies by 31.7% in the 3rd quarter. First Trust Advisors LP now owns 43,498 shares of the basic materials company’s stock valued at $2,309,000 after acquiring an additional 10,460 shares during the last quarter. Squarepoint Ops LLC boosted its holdings in shares of Minerals Technologies by 136.0% in the 3rd quarter. Squarepoint Ops LLC now owns 30,168 shares of the basic materials company’s stock valued at $1,602,000 after acquiring an additional 17,387 shares during the last quarter. California Public Employees Retirement System boosted its holdings in shares of Minerals Technologies by 16.8% in the 3rd quarter. California Public Employees Retirement System now owns 90,451 shares of the basic materials company’s stock valued at $4,802,000 after acquiring an additional 12,996 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Minerals Technologies by 3.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 317,030 shares of the basic materials company’s stock valued at $16,965,000 after acquiring an additional 9,264 shares during the last quarter. 95.29% of the stock is currently owned by institutional investors and hedge funds.

Shares of MTX traded up $0.11 during trading hours on Tuesday, hitting $54.90. The stock had a trading volume of 9,615 shares, compared to its average volume of 170,674. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.62 and a current ratio of 2.24. The firm has a 50-day moving average price of $53.77 and a 200 day moving average price of $52.60. Minerals Technologies Inc has a fifty-two week low of $45.26 and a fifty-two week high of $63.75. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 11.33, a PEG ratio of 4.86 and a beta of 1.85.

Minerals Technologies (NYSE:MTX) last posted its earnings results on Thursday, October 31st. The basic materials company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.05. Minerals Technologies had a net margin of 8.16% and a return on equity of 11.08%. The firm had revenue of $449.30 million during the quarter, compared to analysts’ expectations of $449.43 million. During the same period in the previous year, the business posted $1.27 EPS. The business’s revenue was down 3.2% compared to the same quarter last year. As a group, analysts predict that Minerals Technologies Inc will post 4.21 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Monday, November 4th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.36%. The ex-dividend date is Friday, November 1st. Minerals Technologies’s dividend payout ratio is currently 4.13%.

Several analysts have recently commented on the stock. ValuEngine downgraded shares of Minerals Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, November 13th. Zacks Investment Research downgraded shares of Minerals Technologies from a “hold” rating to a “sell” rating in a report on Thursday, December 5th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $65.00.

Minerals Technologies Profile

Minerals Technologies Inc develops, produces, and markets various specialty mineral, mineral-based, and synthetic mineral products, and supporting systems and services worldwide. The company's Specialty Minerals segment produces and sells precipitated calcium carbonate and quicklime; and provides natural mineral products comprising limestone and talc.

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Institutional Ownership by Quarter for Minerals Technologies (NYSE:MTX)

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