CSM Advisors LLC Boosts Stake in Minerals Technologies Inc. $MTX

CSM Advisors LLC lifted its holdings 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 & Exchange Commission. The institutional investor owned 104,078 shares of the basic materials company’s stock after purchasing an additional 15,384 shares during the period. CSM Advisors LLC owned about 0.33% of Minerals Technologies worth $6,464,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Brandes Investment Partners LP boosted its position in Minerals Technologies by 436.3% during the second quarter. Brandes Investment Partners LP now owns 538,073 shares of the basic materials company’s stock worth $29,632,000 after purchasing an additional 437,734 shares in the last quarter. Broad Bay Capital Management LP purchased a new stake in shares of Minerals Technologies in the second quarter valued at approximately $16,926,000. American Century Companies Inc. raised its stake 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 worth $70,739,000 after buying an additional 216,453 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Minerals Technologies by 26.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 496,215 shares of the basic materials company’s stock worth $27,327,000 after buying an additional 103,853 shares during the period. Finally, Bank of America Corp DE lifted its position in shares of Minerals Technologies by 22.2% during the 2nd quarter. Bank of America Corp DE now owns 483,970 shares of the basic materials company’s stock valued at $26,652,000 after buying an additional 87,989 shares in the last quarter. Institutional investors and hedge funds own 97.29% of the company’s stock.

Insider Activity

In other Minerals Technologies news, insider Dj Monagle III sold 23,093 shares of the firm’s stock in a transaction on Monday, December 29th. The stock was sold at an average price of $61.90, for a total value of $1,429,456.70. Following the completion of the sale, the insider directly owned 84,349 shares of the company’s stock, valued at $5,221,203.10. This trade represents a 21.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Zacks Research raised shares of Minerals Technologies from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 14th. Weiss Ratings restated a “sell (d+)” rating on shares of Minerals Technologies in a research report on Monday, December 22nd. Finally, Truist Financial lifted their target price on shares of Minerals Technologies from $84.00 to $89.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $89.00.

Minerals Technologies Trading Up 0.8%

MTX opened at $68.44 on Monday. The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of -134.19 and a beta of 1.24. The company’s 50 day simple moving average is $69.00 and its two-hundred day simple moving average is $63.42. Minerals Technologies Inc. has a 1-year low of $49.54 and a 1-year high of $75.29. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.08 and a quick ratio of 1.45.

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

Minerals Technologies Dividend Announcement

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

About Minerals Technologies

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.