Wedge Capital Management L L P NC Raises Stake in Minerals Technologies Inc. (NYSE:MTX)

Wedge Capital Management L L P NC raised its position in Minerals Technologies Inc. (NYSE:MTX) by 10.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,108 shares of the basic materials company’s stock after acquiring an additional 856 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Minerals Technologies were worth $649,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ purchased a new position in Minerals Technologies in the third quarter worth approximately $44,000. Acadian Asset Management LLC purchased a new stake in shares of Minerals Technologies during the 3rd quarter worth approximately $58,000. International Assets Investment Management LLC lifted its position in shares of Minerals Technologies by 1,266.0% during the 4th quarter. International Assets Investment Management LLC now owns 1,284 shares of the basic materials company’s stock worth $92,000 after buying an additional 1,190 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Minerals Technologies during the 4th quarter worth approximately $158,000. Finally, Cable Hill Partners LLC purchased a new stake in shares of Minerals Technologies during the 3rd quarter worth approximately $210,000. Hedge funds and other institutional investors own 97.29% of the company’s stock.

Minerals Technologies Stock Down 1.3 %

MTX stock opened at $71.18 on Friday. The company has a fifty day moving average price of $72.75 and a 200 day moving average price of $66.33. Minerals Technologies Inc. has a 12 month low of $48.61 and a 12 month high of $76.80. The company has a market cap of $2.30 billion, a price-to-earnings ratio of 27.48 and a beta of 1.33. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.40 and a quick ratio of 1.69.

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, beating the consensus estimate of $1.25 by $0.03. The firm had revenue of $524.50 million during the quarter, compared to the consensus estimate of $506.67 million. Minerals Technologies had a net margin of 3.88% and a return on equity of 10.26%. Minerals Technologies’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.67 EPS. Sell-side analysts expect that Minerals Technologies Inc. will post 5.9 earnings per share for the current year.

Insider Buying and Selling at Minerals Technologies

In other Minerals Technologies news, insider Dj Monagle III sold 1,180 shares of the business’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 transaction, the insider now directly 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 accessible 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 transaction of $87,461.60. Following the transaction, the insider now directly 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 accessible 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 stock was sold at an average price of $71.48, for a total transaction of $923,664.56. Following the transaction, the senior vice president now directly owns 53,862 shares in the company, valued at $3,850,055.76. The disclosure for this sale can be found here. 3.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

About Minerals Technologies

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.