Pictet Asset Management Holding SA Boosts Position in Minerals Technologies Inc. (NYSE:MTX)

Pictet Asset Management Holding SA lifted its holdings in shares of Minerals Technologies Inc. (NYSE:MTX) by 25.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,862 shares of the basic materials company’s stock after acquiring an additional 995 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Minerals Technologies were worth $371,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MTX. Smartleaf Asset Management LLC raised its holdings in Minerals Technologies by 181.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 506 shares of the basic materials company’s stock worth $38,000 after purchasing an additional 326 shares in the last quarter. Blue Trust Inc. increased its position in shares of Minerals Technologies by 21.4% during the fourth quarter. Blue Trust Inc. now owns 1,009 shares of the basic materials company’s stock valued at $78,000 after buying an additional 178 shares during the period. Venturi Wealth Management LLC purchased a new position in shares of Minerals Technologies during the fourth quarter valued at about $78,000. KBC Group NV raised its stake in Minerals Technologies by 43.9% in the fourth quarter. KBC Group NV now owns 1,478 shares of the basic materials company’s stock worth $113,000 after buying an additional 451 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Minerals Technologies in the fourth quarter worth about $145,000. Hedge funds and other institutional investors own 97.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MTX. StockNews.com downgraded Minerals Technologies from a “buy” rating to a “hold” rating in a report on Wednesday. Truist Financial decreased their price target on shares of Minerals Technologies from $103.00 to $101.00 and set a “buy” rating for the company in a research note on Monday, February 10th.

Minerals Technologies Stock Up 8.8 %

MTX stock opened at $58.32 on Thursday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.84 and a quick ratio of 1.98. Minerals Technologies Inc. has a 1-year low of $52.40 and a 1-year high of $90.30. The stock has a market capitalization of $1.86 billion, a P/E ratio of 11.26 and a beta of 1.25. The business has a fifty day moving average price of $67.23 and a 200-day moving average price of $74.11.

Minerals Technologies (NYSE:MTX) last posted its 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 return on equity of 11.49% and a net margin of 7.89%. Equities analysts forecast that Minerals Technologies Inc. will post 6.62 earnings per share for the current fiscal year.

Minerals Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 14th were paid a $0.11 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.75%. Minerals Technologies’s dividend payout ratio (DPR) is presently 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.