CSM Advisors LLC Raises Stock Position in Minerals Technologies Inc. $MTX

CSM Advisors LLC grew its position in Minerals Technologies Inc. (NYSE:MTX) by 17.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 104,078 shares of the basic materials company’s stock after buying an additional 15,384 shares during the period. CSM Advisors LLC’s holdings in Minerals Technologies were worth $6,464,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC raised its position in shares of Minerals Technologies by 626.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 596 shares of the basic materials company’s stock valued at $33,000 after buying an additional 514 shares during the period. First Horizon Corp purchased a new position in Minerals Technologies in the third quarter worth approximately $35,000. Strs Ohio acquired a new stake in Minerals Technologies during the first quarter worth $70,000. Smartleaf Asset Management LLC increased its stake in Minerals Technologies by 136.2% during the second quarter. Smartleaf Asset Management LLC now owns 1,278 shares of the basic materials company’s stock worth $71,000 after acquiring an additional 737 shares during the last quarter. Finally, State of Wyoming raised its position in Minerals Technologies by 33.3% in the third quarter. State of Wyoming now owns 2,001 shares of the basic materials company’s stock valued at $124,000 after purchasing an additional 500 shares during the period. Institutional investors and hedge funds own 97.29% of the company’s stock.

Insider Buying and Selling at Minerals Technologies

In other news, insider Dj Monagle III sold 23,093 shares of the company’s stock in a transaction on Monday, December 29th. The stock was 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 approximately $5,221,203.10. This represents a 21.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.50% of the company’s stock.

Wall Street Analysts Forecast Growth

MTX has been the topic of several recent analyst reports. Truist Financial upped their price target 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 shares of Minerals Technologies from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 14th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Minerals Technologies in a research report on Monday, December 22nd. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $89.00.

Minerals Technologies Trading Up 0.8%

NYSE MTX opened at $68.44 on Monday. The firm has a 50 day simple moving average of $69.00 and a 200-day simple moving average of $63.42. 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 Inc. has a one year low of $49.54 and a one year high of $75.29. The firm has a market cap of $2.13 billion, a price-to-earnings ratio of -134.19 and a beta of 1.24.

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

Minerals Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Friday, February 13th were paid a $0.12 dividend. The ex-dividend date was Friday, February 13th. This represents a $0.48 annualized dividend and a dividend yield of 0.7%. Minerals Technologies’s payout ratio is -94.12%.

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.