PNC Financial Services Group Inc. Sells 395 Shares of Minerals Technologies Inc. (NYSE:MTX)

PNC Financial Services Group Inc. trimmed its position in Minerals Technologies Inc. (NYSE:MTX) by 9.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,780 shares of the basic materials company’s stock after selling 395 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Minerals Technologies were worth $288,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in Minerals Technologies during the fourth quarter worth approximately $10,797,000. Proficio Capital Partners LLC acquired a new position in shares of Minerals Technologies during the 4th quarter worth approximately $2,451,000. M&T Bank Corp increased its holdings in shares of Minerals Technologies by 13.2% during the 4th quarter. M&T Bank Corp now owns 37,770 shares of the basic materials company’s stock worth $2,878,000 after acquiring an additional 4,402 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Minerals Technologies by 0.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 555,157 shares of the basic materials company’s stock valued at $42,309,000 after purchasing an additional 2,647 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in Minerals Technologies by 181.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 506 shares of the basic materials company’s stock valued at $38,000 after purchasing an additional 326 shares during the last quarter. 97.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on MTX shares. Truist Financial dropped their price objective on shares of Minerals Technologies from $103.00 to $101.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. StockNews.com cut shares of Minerals Technologies from a “buy” rating to a “hold” rating in a report on Wednesday.

Minerals Technologies Stock Down 3.0 %

MTX stock opened at $65.13 on Friday. Minerals Technologies Inc. has a fifty-two week low of $64.30 and a fifty-two week high of $90.30. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.84 and a quick ratio of 1.98. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 12.57 and a beta of 1.28. The business’s fifty day moving average price is $71.92 and its two-hundred day moving average price is $75.37.

Minerals Technologies (NYSE:MTX) last issued its quarterly earnings data on Thursday, February 6th. The basic materials company reported $1.50 earnings per share for the quarter, topping the consensus estimate 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, equities analysts anticipate that Minerals Technologies Inc. will post 6.62 earnings per share for the current year.

Minerals Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 14th were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.44 dividend on an annualized basis and a yield of 0.68%. Minerals Technologies’s payout ratio is 8.49%.

Minerals Technologies 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.