Algert Global LLC buys 23,286 shares of Minerals Technologies Inc. (NYSE:MTX)

Algert Global LLC grew its position in shares of Minerals Technologies Inc. (NYSE:MTX – Free Report) by 131.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 40,956 shares of the basic materials company’s stock after buying an additional 23,286 shares during the quarter. Algert Global LLC owned 0.13% of Minerals Technologies worth $3,406,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Minerals Technologies in the 4th quarter valued at about $19,192,000. US Bancorp DE boosted its holdings in shares of Minerals Technologies by 1.6% in the fourth quarter. US Bancorp DE now owns 12,457 shares of the basic materials company’s stock worth $888,000 after buying an additional 196 shares during the period. Parallel Advisors LLC boosted its holdings in shares of Minerals Technologies by 97.9% in the 4th quarter. Parallel Advisors LLC now owns 556 shares of the basic materials company’s stock worth $40,000 after buying an additional 275 shares during the period. Evoke Wealth LLC bought a new stake in shares of Minerals Technologies in the 4th quarter valued at approximately $328,000. Finally, Keeley Teton Advisors LLC boosted its holdings in shares of Minerals Technologies by 12.0% in the 4th quarter. Keeley Teton Advisors LLC now owns 29,854 shares of the basic materials company’s stock worth $2,129,000 after purchasing an additional 3,187 shares during the period. Institutional investors own 97.29% of the company’s shares.

Changes in Analyst Ratings

Separately, StockNews.com raised shares of Minerals Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, September 25th.

Read the latest stock analysis on mineral technologies

Minerals Technologies Stock Performance

Shares of Minerals Technologies stock opened at $77.23 on Tuesday. The company has a quick ratio of 1.72, a current ratio of 2.46, and a debt-to-equity ratio of 0.53. The company has a market cap of $2.49 billion, a PE ratio of 26.72 and a beta of 1.30. The firm has a fifty day simple moving average of $75.13 and a two hundred day simple moving average of $77.85. Minerals Technologies Inc. has a 12-month low of $48.61 and a 12-month high of $90.29.

Minerals Technologies (NYSE:MTX – Get Your Free Report ) last issued its quarterly earnings data on Thursday, July 25th. The basic materials company reported $1.65 EPS for the quarter, topping the consensus estimate of $1.60 by $0.05. The firm had revenue of $541.20 million during the quarter, compared to the consensus estimate of $561.60 million. Minerals Technologies had a net margin of 4.05% and a return on equity of 11.46%. The company’s quarterly revenue was down 1.9% compared to the same quarter last year. In the same period last year, the firm posted earnings per share of $1.31. Research analysts expect that Minerals Technologies Inc. to post 6.22 EPS for the current year.

Minerals Technologies announces dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 16th were paid a $0.10 dividend. This represents a dividend of $0.40 on an annualized basis and a yield of 0.52%. The ex-dividend date was Friday, August 16. Minerals Technologies’ payout ratio is currently 13.84%.

Profile Mineral Technologies

(Free Report)

Minerals Technologies Inc develops, manufactures and markets various mineral, mineral-based and related systems and services. The company operates through two segments, Consumer & Specialties and Engineered Solutions. The Consumer & Specialties segment offers household and personal care products such as pet bedding, personal care, fabric care, edible oil and other purification fluids, animal health and agricultural products; and specialty additives, including precipitated calcium carbonate products and ground calcium carbonate products, which are used in the paper, paperboard, and fiber packaging industries, as well as in the automotive, construction, and table and food applications .

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