Lapides Asset Management LLC trimmed its holdings in shares of Minerals Technologies Inc (NYSE:MTX) by 5.7% in the third quarter, according to its most recent filing with the SEC. The firm owned 168,100 shares of the basic materials company’s stock after selling 10,200 shares during the period. Minerals Technologies makes up about 2.5% of Lapides Asset Management LLC’s investment portfolio, making the stock its 12th biggest position. Lapides Asset Management LLC owned 0.48% of Minerals Technologies worth $11,364,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in the company. Adams Diversified Equity Fund Inc. lifted its holdings in shares of Minerals Technologies by 38.9% during the 3rd quarter. Adams Diversified Equity Fund Inc. now owns 10,000 shares of the basic materials company’s stock worth $676,000 after acquiring an additional 2,800 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of Minerals Technologies during the 3rd quarter worth about $2,029,000. First Trust Advisors LP lifted its holdings in shares of Minerals Technologies by 8.4% during the 3rd quarter. First Trust Advisors LP now owns 31,507 shares of the basic materials company’s stock worth $2,130,000 after acquiring an additional 2,433 shares during the period. First Quadrant L P CA lifted its holdings in shares of Minerals Technologies by 5.1% during the 3rd quarter. First Quadrant L P CA now owns 26,479 shares of the basic materials company’s stock worth $1,790,000 after acquiring an additional 1,279 shares during the period. Finally, Skylands Capital LLC lifted its holdings in shares of Minerals Technologies by 271.0% during the 3rd quarter. Skylands Capital LLC now owns 34,300 shares of the basic materials company’s stock worth $2,319,000 after acquiring an additional 25,055 shares during the period. 94.16% of the stock is owned by institutional investors.
A number of equities analysts have recently commented on the stock. Zacks Investment Research raised shares of Minerals Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, October 16th. ValuEngine downgraded shares of Minerals Technologies from a “hold” rating to a “sell” rating in a report on Monday, October 8th.
Minerals Technologies (NYSE:MTX) last announced its earnings results on Thursday, August 2nd. The basic materials company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.02. The business had revenue of $464.70 million during the quarter, compared to analysts’ expectations of $442.45 million. Minerals Technologies had a net margin of 11.50% and a return on equity of 13.02%. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same quarter last year, the company posted $1.23 EPS. On average, equities analysts anticipate that Minerals Technologies Inc will post 4.89 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Monday, November 26th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date of this dividend is Friday, November 23rd. Minerals Technologies’s dividend payout ratio (DPR) is currently 4.36%.
In other news, Director John J. Carmola bought 800 shares of the company’s stock in a transaction that occurred on Wednesday, August 8th. The stock was acquired at an average price of $68.00 per share, for a total transaction of $54,400.00. Following the transaction, the director now directly owns 1,200 shares of the company’s stock, valued at approximately $81,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.40% of the company’s stock.
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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