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

Skylands Capital LLC cut its stake in Minerals Technologies Inc. (NYSE:MTX) by 20.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,780 shares of the basic materials company’s stock after selling 23,275 shares during the period. Skylands Capital LLC owned approximately 0.30% of Minerals Technologies worth $5,763,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. First Horizon Corp acquired a new stake in Minerals Technologies during the third quarter worth about $35,000. First Horizon Advisors Inc. lifted its stake in Minerals Technologies by 161.1% during the second quarter. First Horizon Advisors Inc. now owns 590 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 364 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Minerals Technologies by 626.8% during the second quarter. EverSource Wealth Advisors LLC now owns 596 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 514 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Minerals Technologies by 44.6% in the 2nd quarter. Blue Trust Inc. now owns 1,011 shares of the basic materials company’s stock valued at $56,000 after purchasing an additional 312 shares in the last quarter. Finally, Strs Ohio bought a new position in shares of Minerals Technologies in the 1st quarter valued at $70,000. 97.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

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

Minerals Technologies Price Performance

MTX opened at $72.96 on Wednesday. The firm has a 50-day moving average price of $64.46 and a 200-day moving average price of $61.72. The company has a quick ratio of 1.45, a current ratio of 2.08 and a debt-to-equity ratio of 0.55. Minerals Technologies Inc. has a twelve month low of $49.54 and a twelve month high of $74.48. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of -143.06 and a beta of 1.27.

Minerals Technologies (NYSE:MTX) last issued its quarterly earnings data on Thursday, January 29th. The basic materials company reported $1.27 EPS for the quarter, missing the consensus estimate 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 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 EPS. Minerals Technologies’s revenue was up .3% on a year-over-year basis. Equities analysts expect that Minerals Technologies Inc. will post 6.62 EPS for the current year.

Minerals Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 13th will be issued 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 is Friday, February 13th. Minerals Technologies’s dividend payout ratio is currently -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.