Everence Capital Management Inc. Makes New Investment in Minerals Technologies Inc. (NYSE:MTX)

Everence Capital Management Inc. purchased a new stake in Minerals Technologies Inc. (NYSE:MTX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 3,580 shares of the basic materials company’s stock, valued at approximately $255,000.

Several other hedge funds and other institutional investors also recently modified their holdings of MTX. Dark Forest Capital Management LP bought a new stake in shares of Minerals Technologies in the first quarter valued at approximately $29,000. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Minerals Technologies in the third quarter valued at approximately $44,000. Quarry LP bought a new stake in shares of Minerals Technologies in the second quarter valued at approximately $49,000. Acadian Asset Management LLC bought a new stake in shares of Minerals Technologies in the third quarter valued at approximately $58,000. Finally, Quantbot Technologies LP raised its position in shares of Minerals Technologies by 126.1% in the second quarter. Quantbot Technologies LP now owns 997 shares of the basic materials company’s stock valued at $61,000 after purchasing an additional 556 shares during the period. Institutional investors own 97.29% of the company’s stock.

Insiders Place Their Bets

In other Minerals Technologies news, insider Dj Monagle III sold 1,180 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $74.12, for a total value of $87,461.60. Following the completion of the transaction, the insider now owns 81,031 shares of the company’s stock, valued at approximately $6,006,017.72. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, insider Dj Monagle III sold 1,180 shares of the company’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $74.12, for a total value of $87,461.60. Following the completion of the sale, the insider now owns 81,031 shares of the company’s stock, valued at approximately $6,006,017.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jonathan J. Hastings sold 12,922 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $71.48, for a total transaction of $923,664.56. Following the completion of the sale, the senior vice president now directly owns 53,862 shares of the company’s stock, valued at approximately $3,850,055.76. The disclosure for this sale can be found here. Corporate insiders own 3.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. StockNews.com raised shares of Minerals Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, February 8th. Seaport Res Ptn raised shares of Minerals Technologies from a “neutral” rating to a “buy” rating in a report on Monday, February 5th. Finally, TheStreet raised shares of Minerals Technologies from a “c+” rating to a “b” rating in a report on Friday, February 2nd. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Minerals Technologies presently has an average rating of “Buy” and a consensus target price of $68.50.

Minerals Technologies Stock Performance

Minerals Technologies stock opened at $70.94 on Friday. The firm’s 50 day simple moving average is $72.70 and its 200 day simple moving average is $65.64. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $2.29 billion, a PE ratio of 27.39 and a beta of 1.33. Minerals Technologies Inc. has a 1-year low of $48.61 and a 1-year high of $76.80.

Minerals Technologies (NYSE:MTX) last released its quarterly earnings results on Friday, February 2nd. The basic materials company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.03. Minerals Technologies had a net margin of 3.88% and a return on equity of 10.26%. The business had revenue of $524.50 million during the quarter, compared to analysts’ expectations of $506.67 million. During the same quarter in the previous year, the company earned $0.67 EPS. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. As a group, analysts expect that Minerals Technologies Inc. will post 5.9 earnings per share for the current fiscal year.

Minerals Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Thursday, February 15th were paid a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $0.40 dividend on an annualized basis and a yield of 0.56%. Minerals Technologies’s dividend payout ratio is presently 15.44%.

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.