Corbyn Investment Management Inc. MD Grows Position in Minerals Technologies Inc. (NYSE:MTX)

Corbyn Investment Management Inc. MD increased its holdings in Minerals Technologies Inc. (NYSE:MTX) by 7.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,538 shares of the basic materials company’s stock after buying an additional 2,041 shares during the quarter. Corbyn Investment Management Inc. MD owned about 0.09% of Minerals Technologies worth $2,106,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in MTX. Inspire Investing LLC increased its position in shares of Minerals Technologies by 3.2% during the 3rd quarter. Inspire Investing LLC now owns 6,395 shares of the basic materials company’s stock worth $350,000 after purchasing an additional 197 shares during the last quarter. Rhumbline Advisers grew its position in Minerals Technologies by 0.4% in the 3rd quarter. Rhumbline Advisers now owns 106,485 shares of the basic materials company’s stock valued at $5,831,000 after acquiring an additional 453 shares in the last quarter. Keybank National Association OH grew its position in Minerals Technologies by 6.9% in the 3rd quarter. Keybank National Association OH now owns 9,125 shares of the basic materials company’s stock valued at $500,000 after acquiring an additional 585 shares in the last quarter. Swiss National Bank grew its position in Minerals Technologies by 1.0% in the 3rd quarter. Swiss National Bank now owns 71,600 shares of the basic materials company’s stock valued at $3,921,000 after acquiring an additional 700 shares in the last quarter. Finally, Pathstone Family Office LLC grew its position in Minerals Technologies by 11.2% in the 3rd quarter. Pathstone Family Office LLC now owns 7,741 shares of the basic materials company’s stock valued at $424,000 after acquiring an additional 780 shares in the last quarter. Institutional investors and hedge funds own 97.29% of the company’s stock.

Insider Transactions at Minerals Technologies

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

Analyst Ratings Changes

MTX has been the topic of a number of recent research reports. StockNews.com upgraded shares of Minerals Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, February 8th. TheStreet raised Minerals Technologies from a “c+” rating to a “b” rating in a report on Friday, February 2nd. Finally, Seaport Res Ptn raised Minerals Technologies from a “neutral” rating to a “buy” rating in a report on Monday, February 5th. Four analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Minerals Technologies presently has a consensus rating of “Buy” and a consensus price target of $68.50.

Minerals Technologies Stock Performance

Shares of MTX stock traded up $2.93 during trading hours on Friday, hitting $74.11. The stock had a trading volume of 79,533 shares, compared to its average volume of 150,322. The firm has a market capitalization of $2.39 billion, a PE ratio of 29.60 and a beta of 1.33. Minerals Technologies Inc. has a twelve month low of $48.61 and a twelve month high of $78.04. The stock’s 50 day moving average is $72.75 and its 200 day moving average is $66.33. 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 posted its quarterly earnings data on Thursday, April 25th. The basic materials company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.22. The business had revenue of $534.50 million during the quarter, compared to the consensus estimate of $545.55 million. Minerals Technologies had a return on equity of 10.26% and a net margin of 3.88%. The company’s revenue was down 2.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.14 earnings per share. As a group, research analysts forecast that Minerals Technologies Inc. will post 5.9 earnings per share for the current fiscal year.

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.