Skylands Capital LLC Sells 8,200 Shares of Minerals Technologies Inc. (NYSE:MTX)

Skylands Capital LLC decreased its stake in Minerals Technologies Inc. (NYSE:MTX) by 18.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,800 shares of the basic materials company’s stock after selling 8,200 shares during the period. Skylands Capital LLC’s holdings in Minerals Technologies were worth $2,553,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Commonwealth Equity Services LLC acquired a new position in shares of Minerals Technologies during the 3rd quarter worth approximately $235,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Minerals Technologies by 33.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,940 shares of the basic materials company’s stock worth $380,000 after buying an additional 1,734 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Minerals Technologies by 9.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 234,651 shares of the basic materials company’s stock worth $12,849,000 after acquiring an additional 19,519 shares in the last quarter. Inspire Investing LLC lifted its stake in Minerals Technologies by 3.2% in the third quarter. Inspire Investing LLC now owns 6,395 shares of the basic materials company’s stock valued at $350,000 after acquiring an additional 197 shares during the last quarter. Finally, Cable Hill Partners LLC acquired a new stake in Minerals Technologies in the third quarter valued at $210,000. Institutional investors and hedge funds own 97.29% of the company’s stock.

Minerals Technologies Stock Performance

Shares of MTX traded up $2.12 during trading hours on Monday, hitting $75.82. The company had a trading volume of 76,396 shares, compared to its average volume of 150,566. The business has a fifty day moving average of $72.78 and a 200-day moving average of $66.71. The company has a quick ratio of 1.75, a current ratio of 2.49 and a debt-to-equity ratio of 0.53. The firm has a market cap of $2.45 billion, a price-to-earnings ratio of 25.95 and a beta of 1.33. Minerals Technologies Inc. has a 12 month low of $48.61 and a 12 month high of $78.04.

Minerals Technologies (NYSE:MTX) last released its quarterly earnings results 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. Minerals Technologies had a net margin of 4.35% and a return on equity of 10.87%. The firm had revenue of $534.50 million for the quarter, compared to analysts’ expectations of $545.55 million. During the same period in the prior year, the firm earned $1.14 EPS. The business’s revenue was down 2.1% on a year-over-year basis. Equities analysts anticipate that Minerals Technologies Inc. will post 5.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Minerals Technologies

In related news, SVP Jonathan J. Hastings sold 12,922 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $71.48, for a total value of $923,664.56. Following the completion of the sale, the senior vice president now directly owns 53,862 shares in the company, valued at approximately $3,850,055.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Jonathan J. Hastings sold 12,922 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were 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 of the company’s stock, valued at $3,850,055.76. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Dj Monagle III sold 1,180 shares of Minerals Technologies stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $74.12, for a total transaction of $87,461.60. Following the completion of the sale, the insider now owns 81,031 shares of the company’s stock, valued at approximately $6,006,017.72. The disclosure for this sale can be found here. 3.50% of the stock is owned by corporate insiders.

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.