Skylands Capital LLC Has $4.63 Million Position in Minerals Technologies Inc. $MTX

Skylands Capital LLC lowered its stake in shares of Minerals Technologies Inc. (NYSE:MTX) by 15.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,305 shares of the basic materials company’s stock after selling 11,700 shares during the quarter. Skylands Capital LLC owned about 0.21% of Minerals Technologies worth $4,631,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. American Century Companies Inc. raised its position in shares of Minerals Technologies by 3.1% in the third quarter. American Century Companies Inc. now owns 1,324,392 shares of the basic materials company’s stock valued at $82,271,000 after purchasing an additional 39,860 shares during the period. State Street Corp boosted its holdings in shares of Minerals Technologies by 0.5% during the 4th quarter. State Street Corp now owns 1,221,398 shares of the basic materials company’s stock worth $74,444,000 after buying an additional 6,458 shares during the period. Geode Capital Management LLC grew its stake in Minerals Technologies by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 897,850 shares of the basic materials company’s stock valued at $54,732,000 after buying an additional 4,693 shares during the last quarter. Brandes Investment Partners LP grew its stake in Minerals Technologies by 22.9% in the 4th quarter. Brandes Investment Partners LP now owns 819,908 shares of the basic materials company’s stock valued at $49,973,000 after buying an additional 152,950 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Minerals Technologies by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 597,297 shares of the basic materials company’s stock worth $36,405,000 after acquiring an additional 15,467 shares during the period. Institutional investors and hedge funds own 97.29% of the company’s stock.

Insiders Place Their Bets

In related news, VP Timothy Jordan sold 6,000 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $80.27, for a total transaction of $481,620.00. Following the transaction, the vice president directly owned 1,279 shares in the company, valued at $102,665.33. The trade was a 82.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 3.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Weiss Ratings upgraded shares of Minerals Technologies from a “sell (d+)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Wall Street Zen lowered Minerals Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 13th. Seaport Research Partners reissued a “buy” rating on shares of Minerals Technologies in a research report on Monday, May 4th. Finally, Truist Financial increased their target price on Minerals Technologies from $89.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $90.00.

Minerals Technologies Price Performance

NYSE:MTX opened at $79.47 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.13 and a quick ratio of 1.47. Minerals Technologies Inc. has a one year low of $53.94 and a one year high of $84.34. The company has a fifty day moving average price of $76.37 and a 200 day moving average price of $70.64. The stock has a market cap of $2.46 billion, a P/E ratio of 15.37 and a beta of 1.13.

Minerals Technologies (NYSE:MTX) last posted its quarterly earnings results on Thursday, April 30th. The basic materials company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.12. Minerals Technologies had a net margin of 7.60% and a return on equity of 10.40%. The company had revenue of $546.90 million for the quarter, compared to analyst estimates of $516.39 million. During the same period last year, the business posted $1.14 EPS. The business’s quarterly revenue was up 11.2% on a year-over-year basis. Analysts anticipate that Minerals Technologies Inc. will post 6.33 earnings per share for the current year.

Minerals Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Tuesday, June 2nd were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $0.48 dividend on an annualized basis and a yield of 0.6%. Minerals Technologies’s dividend payout ratio (DPR) is 9.28%.

Minerals Technologies Profile

Minerals Technologies Inc develops, produces and processes a broad range of mineral-based products and solutions that serve a variety of industrial applications. Its offerings include bentonite, perlite, precipitated calcium carbonate (PCC), mineral sands, foundry additives, performance minerals and specialty chemicals designed to enhance performance in markets such as paper, steel, construction, oil and gas, environmental remediation and consumer products.

The company operates through several business segments, including Specialty Minerals, Refractory Minerals, Performance Materials and Recycled Materials.