Skylands Capital LLC Sells 23,275 Shares of Minerals Technologies Inc. $MTX

Skylands Capital LLC lessened its position in shares of Minerals Technologies Inc. (NYSE:MTX) by 20.1% in the third quarter, Holdings Channel reports. The fund owned 92,780 shares of the basic materials company’s stock after selling 23,275 shares during the quarter. Skylands Capital LLC’s holdings in Minerals Technologies were worth $5,763,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. CSM Advisors LLC purchased a new stake in Minerals Technologies during the second quarter valued at approximately $4,884,000. American Century Companies Inc. lifted its position in shares of Minerals Technologies by 20.3% during the 2nd quarter. American Century Companies Inc. now owns 1,284,532 shares of the basic materials company’s stock valued at $70,739,000 after buying an additional 216,453 shares in the last quarter. Isthmus Partners LLC lifted its holdings in Minerals Technologies by 52.7% during the second quarter. Isthmus Partners LLC now owns 30,722 shares of the basic materials company’s stock valued at $1,692,000 after purchasing an additional 10,602 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Minerals Technologies by 44.6% during the 2nd quarter. Blue Trust Inc. now owns 1,011 shares of the basic materials company’s stock valued at $56,000 after buying an additional 312 shares in the last quarter. Finally, CW Advisors LLC boosted its holdings in Minerals Technologies by 104.7% in the 2nd quarter. CW Advisors LLC now owns 21,940 shares of the basic materials company’s stock worth $1,208,000 after buying an additional 11,224 shares during the period. Institutional investors own 97.29% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on MTX shares. Weiss Ratings reissued a “sell (d+)” rating on shares of Minerals Technologies in a report on Monday, December 22nd. Truist Financial lifted their target price on Minerals Technologies from $84.00 to $89.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Zacks Research upgraded Minerals Technologies from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 14th. Finally, Wall Street Zen lowered shares of Minerals Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 18th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $89.00.

Minerals Technologies Stock Performance

NYSE MTX opened at $72.96 on Wednesday. The company has a market cap of $2.27 billion, a P/E ratio of -143.06 and a beta of 1.27. The business’s 50 day moving average price is $64.46 and its 200-day moving average price is $61.72. Minerals Technologies Inc. has a fifty-two week low of $49.54 and a fifty-two week high of $74.48. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.45 and a current ratio of 2.08.

Minerals Technologies (NYSE:MTX) last released its quarterly earnings results on Thursday, January 29th. The basic materials company reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.01). Minerals Technologies had a positive return on equity of 10.22% and a negative net margin of 0.89%.The firm had revenue of $519.50 million for the quarter, compared to analysts’ expectations of $517.83 million. During the same period in the prior year, the firm posted $1.28 earnings per share. Minerals Technologies’s revenue for the quarter was up .3% on a year-over-year basis. Sell-side analysts predict that Minerals Technologies Inc. will post 6.62 earnings per share for the current year.

Minerals Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 13th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, February 13th. Minerals Technologies’s payout ratio is currently -94.12%.

Insider Transactions at Minerals Technologies

In other news, insider Brett Argirakis sold 6,501 shares of the company’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $58.68, for a total value of $381,478.68. Following the transaction, the insider directly owned 27,602 shares in the company, valued at approximately $1,619,685.36. This represents a 19.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Dj Monagle III sold 23,093 shares of Minerals Technologies stock in a transaction dated Monday, December 29th. The shares were sold at an average price of $61.90, for a total transaction of $1,429,456.70. Following the sale, the insider owned 84,349 shares of the company’s stock, valued at $5,221,203.10. The trade was a 21.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 3.50% of the company’s stock.

Minerals Technologies Company 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.