Minerals Technologies Inc. (NYSE:MTX) Stock Position Raised by Corbyn Investment Management Inc. MD

Corbyn Investment Management Inc. MD raised its position in shares of Minerals Technologies Inc. (NYSE:MTX) by 7.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,538 shares of the basic materials company’s stock after purchasing an additional 2,041 shares during the period. Corbyn Investment Management Inc. MD’s holdings in Minerals Technologies were worth $2,106,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Victory Capital Management Inc. raised its stake in shares of Minerals Technologies by 6.4% during the 3rd quarter. Victory Capital Management Inc. now owns 1,737,753 shares of the basic materials company’s stock worth $95,159,000 after purchasing an additional 104,982 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Minerals Technologies by 1.4% in the 3rd quarter. American Century Companies Inc. now owns 1,241,758 shares of the basic materials company’s stock valued at $67,999,000 after acquiring an additional 17,742 shares in the last quarter. Boston Trust Walden Corp raised its stake in shares of Minerals Technologies by 0.5% in the 4th quarter. Boston Trust Walden Corp now owns 644,055 shares of the basic materials company’s stock valued at $45,928,000 after acquiring an additional 3,135 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Minerals Technologies by 5.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 458,840 shares of the basic materials company’s stock valued at $25,126,000 after acquiring an additional 22,790 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Minerals Technologies by 65.4% in the 3rd quarter. Wellington Management Group LLP now owns 251,084 shares of the basic materials company’s stock valued at $13,749,000 after acquiring an additional 99,267 shares in the last quarter. 97.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Minerals Technologies Price Performance

MTX stock traded up $2.93 during trading on Friday, hitting $74.11. The company had a trading volume of 79,533 shares, compared to its average volume of 150,322. The company has a fifty day moving average price of $72.75 and a two-hundred day moving average price of $66.33. 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 company has a market cap of $2.39 billion, a P/E ratio of 29.60 and a beta of 1.33. Minerals Technologies Inc. has a fifty-two week low of $48.61 and a fifty-two week high of $78.04.

Minerals Technologies (NYSE:MTX) last announced its quarterly earnings results on Thursday, April 25th. The basic materials company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.27 by $0.22. The business had revenue of $534.50 million for the quarter, compared to analyst estimates of $545.55 million. Minerals Technologies had a return on equity of 10.26% and a net margin of 3.88%. Minerals Technologies’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.14 EPS. Equities research analysts expect that Minerals Technologies Inc. will post 5.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

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.