Renaissance Technologies LLC trimmed its stake in shares of Minerals Technologies Inc (NYSE:MTX) by 41.9% during the second quarter, HoldingsChannel reports. The firm owned 10,800 shares of the basic materials company’s stock after selling 7,800 shares during the period. Renaissance Technologies LLC’s holdings in Minerals Technologies were worth $814,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NumerixS Investment Technologies Inc boosted its holdings in Minerals Technologies by 1,300.0% during the second quarter. NumerixS Investment Technologies Inc now owns 1,400 shares of the basic materials company’s stock valued at $105,000 after purchasing an additional 1,300 shares in the last quarter. Oakbrook Investments LLC acquired a new stake in Minerals Technologies during the second quarter valued at approximately $203,000. Zeke Capital Advisors LLC acquired a new stake in Minerals Technologies during the second quarter valued at approximately $204,000. Xact Kapitalforvaltning AB boosted its holdings in Minerals Technologies by 40.1% during the first quarter. Xact Kapitalforvaltning AB now owns 6,637 shares of the basic materials company’s stock valued at $444,000 after purchasing an additional 1,900 shares in the last quarter. Finally, Bailard Inc. acquired a new stake in Minerals Technologies during the second quarter valued at approximately $505,000. 94.16% of the stock is currently owned by institutional investors.
In other news, Director John J. Carmola bought 800 shares of the business’s stock in a transaction dated Wednesday, August 8th. The stock was bought at an average price of $68.00 per share, for a total transaction of $54,400.00. Following the completion of the purchase, the director now owns 1,200 shares of the company’s stock, valued at approximately $81,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.40% of the company’s stock.
Minerals Technologies (NYSE:MTX) last posted its earnings results on Thursday, November 1st. The basic materials company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.02. Minerals Technologies had a net margin of 11.50% and a return on equity of 13.02%. The company had revenue of $464.10 million during the quarter, compared to analysts’ expectations of $464.20 million. During the same quarter in the previous year, the company posted $1.19 earnings per share. Minerals Technologies’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, sell-side analysts predict that Minerals Technologies Inc will post 4.89 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Monday, November 26th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend is Friday, November 23rd. Minerals Technologies’s dividend payout ratio (DPR) is currently 4.36%.
MTX has been the topic of a number of recent research reports. Zacks Investment Research raised Minerals Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, July 11th. ValuEngine downgraded Minerals Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, August 8th. Finally, TheStreet downgraded Minerals Technologies from a “b-” rating to a “c+” rating in a report on Tuesday, October 30th.
Minerals Technologies Company 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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