Vestcor Inc Invests $185,000 in Minerals Technologies Inc. (NYSE:MTX)

Vestcor Inc purchased a new position in shares of Minerals Technologies Inc. (NYSE:MTX) in the 4th quarter, Holdings Channel reports. The fund purchased 2,424 shares of the basic materials company’s stock, valued at approximately $185,000.

Several other institutional investors have also modified their holdings of the company. Swiss National Bank grew its position in shares of Minerals Technologies by 0.6% during the fourth quarter. Swiss National Bank now owns 63,300 shares of the basic materials company’s stock worth $4,824,000 after acquiring an additional 400 shares during the last quarter. Great Lakes Advisors LLC grew its position in shares of Minerals Technologies by 4.4% during the fourth quarter. Great Lakes Advisors LLC now owns 55,553 shares of the basic materials company’s stock worth $4,234,000 after acquiring an additional 2,332 shares during the last quarter. HighTower Advisors LLC grew its position in Minerals Technologies by 602.4% in the 4th quarter. HighTower Advisors LLC now owns 27,877 shares of the basic materials company’s stock valued at $2,125,000 after buying an additional 23,908 shares in the last quarter. Inspire Advisors LLC bought a new position in Minerals Technologies in the 4th quarter valued at about $207,000. Finally, Amundi grew its position in Minerals Technologies by 189.5% in the 4th quarter. Amundi now owns 16,704 shares of the basic materials company’s stock valued at $1,224,000 after buying an additional 10,934 shares in the last quarter. Institutional investors own 97.29% of the company’s stock.

Minerals Technologies Stock Performance

Shares of MTX opened at $67.83 on Wednesday. The firm has a 50-day moving average price of $72.29 and a 200 day moving average price of $75.57. The firm has a market capitalization of $2.16 billion, a PE ratio of 13.09 and a beta of 1.28. The company has a quick ratio of 1.98, a current ratio of 2.84 and a debt-to-equity ratio of 0.54. Minerals Technologies Inc. has a 52-week low of $65.64 and a 52-week high of $90.30.

Minerals Technologies (NYSE:MTX) last issued its quarterly earnings results on Thursday, February 6th. The basic materials company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.11. Minerals Technologies had a net margin of 7.89% and a return on equity of 11.49%. On average, sell-side analysts anticipate that Minerals Technologies Inc. will post 6.62 earnings per share for the current fiscal year.

Minerals Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 14th were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend was Friday, February 14th. Minerals Technologies’s payout ratio is 8.49%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on MTX shares. Truist Financial decreased their target price on shares of Minerals Technologies from $103.00 to $101.00 and set a “buy” rating for the company in a research report on Monday, February 10th. StockNews.com lowered shares of Minerals Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday.

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.