UBS Asset Management Americas Inc. Increases Stake in Minerals Technologies Inc (NYSE:MTX)

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UBS Asset Management Americas Inc. raised its holdings in shares of Minerals Technologies Inc (NYSE:MTX) by 13.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,531 shares of the basic materials company’s stock after buying an additional 4,176 shares during the period. UBS Asset Management Americas Inc. owned about 0.10% of Minerals Technologies worth $1,848,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Point72 Hong Kong Ltd bought a new position in shares of Minerals Technologies during the second quarter worth $44,000. Tower Research Capital LLC TRC boosted its position in shares of Minerals Technologies by 123.4% during the second quarter. Tower Research Capital LLC TRC now owns 2,933 shares of the basic materials company’s stock worth $157,000 after acquiring an additional 1,620 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Minerals Technologies during the second quarter worth $233,000. Skylands Capital LLC bought a new position in shares of Minerals Technologies during the second quarter worth $260,000. Finally, Trexquant Investment LP bought a new position in shares of Minerals Technologies during the second quarter worth $276,000. 94.33% of the stock is owned by institutional investors and hedge funds.

In other news, SVP Thomas J. Meek sold 7,502 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $45.90, for a total value of $344,341.80. Following the sale, the senior vice president now owns 65,752 shares of the company’s stock, valued at $3,018,016.80. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Douglas T. Dietrich bought 1,500 shares of Minerals Technologies stock in a transaction dated Thursday, August 29th. The stock was purchased at an average cost of $47.99 per share, for a total transaction of $71,985.00. Following the purchase, the chief executive officer now owns 71,841 shares of the company’s stock, valued at approximately $3,447,649.59. The disclosure for this purchase can be found here. Corporate insiders own 2.50% of the company’s stock.

MTX has been the subject of several research reports. ValuEngine upgraded shares of Minerals Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, September 14th. Zacks Investment Research lowered shares of Minerals Technologies from a “hold” rating to a “sell” rating in a research report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $65.00.

MTX stock opened at $50.73 on Friday. Minerals Technologies Inc has a 52 week low of $45.26 and a 52 week high of $63.75. The company has a quick ratio of 1.66, a current ratio of 2.30 and a debt-to-equity ratio of 0.61. The company has a fifty day simple moving average of $50.76 and a two-hundred day simple moving average of $54.65. The firm has a market capitalization of $1.74 billion, a P/E ratio of 10.63, a price-to-earnings-growth ratio of 3.33 and a beta of 1.88.

Minerals Technologies (NYSE:MTX) last released its quarterly earnings data on Thursday, August 1st. The basic materials company reported $1.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.05. Minerals Technologies had a net margin of 8.40% and a return on equity of 11.82%. The business had revenue of $463.80 million during the quarter, compared to analyst estimates of $458.47 million. During the same quarter last year, the business earned $1.28 earnings per share. Minerals Technologies’s quarterly revenue was down .2% compared to the same quarter last year. As a group, analysts anticipate that Minerals Technologies Inc will post 4.26 EPS for the current year.

Minerals Technologies Profile

Minerals Technologies Inc develops, produces, and markets various specialty mineral, mineral-based, and synthetic mineral products, and supporting systems and services worldwide. The company's Specialty Minerals segment produces and sells precipitated calcium carbonate and quicklime; and provides natural mineral products comprising limestone and talc.

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Institutional Ownership by Quarter for Minerals Technologies (NYSE:MTX)

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