Minerals Technologies Inc. $MTX Shares Purchased by Isthmus Partners LLC

Isthmus Partners LLC raised its holdings in shares of Minerals Technologies Inc. (NYSE:MTX) by 43.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,210 shares of the basic materials company’s stock after buying an additional 13,488 shares during the period. Isthmus Partners LLC’s holdings in Minerals Technologies were worth $2,746,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Royal Bank of Canada raised its stake in shares of Minerals Technologies by 28.4% in the 1st quarter. Royal Bank of Canada now owns 19,629 shares of the basic materials company’s stock valued at $1,249,000 after acquiring an additional 4,337 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Minerals Technologies by 9.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 110,044 shares of the basic materials company’s stock valued at $6,995,000 after purchasing an additional 9,363 shares in the last quarter. Jane Street Group LLC raised its position in Minerals Technologies by 177.6% in the first quarter. Jane Street Group LLC now owns 68,156 shares of the basic materials company’s stock valued at $4,333,000 after purchasing an additional 43,604 shares during the period. Intech Investment Management LLC lifted its stake in shares of Minerals Technologies by 30.5% during the first quarter. Intech Investment Management LLC now owns 18,504 shares of the basic materials company’s stock worth $1,176,000 after purchasing an additional 4,322 shares in the last quarter. Finally, Strs Ohio purchased a new stake in shares of Minerals Technologies in the first quarter worth about $70,000. 97.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MTX has been the subject of a number of recent research reports. Zacks Research upgraded 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 report on Monday, December 22nd. Finally, Truist Financial lifted their price objective on shares of Minerals Technologies from $84.00 to $89.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Minerals Technologies has an average rating of “Hold” and a consensus target price of $89.00.

Insider Buying and Selling

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 shares were sold at an average price of $61.90, for a total transaction of $1,429,456.70. Following the completion of the transaction, 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 at the SEC website. 3.30% of the stock is owned by company insiders.

Minerals Technologies Trading Down 0.2%

Shares of MTX opened at $72.13 on Friday. Minerals Technologies Inc. has a one year low of $49.54 and a one year high of $75.29. The stock has a 50-day moving average price of $66.59 and a 200 day moving average price of $62.48. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.45 and a current ratio of 2.08. The company has a market capitalization of $2.25 billion, a P/E ratio of -141.44 and a beta of 1.27.

Minerals Technologies (NYSE:MTX) last announced its 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). 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 business’s revenue for the quarter was up .3% on a year-over-year basis. During the same period in the previous year, the company earned $1.28 earnings per share. Sell-side analysts forecast that Minerals Technologies Inc. will post 6.62 EPS for the current fiscal year.

Minerals Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Shareholders 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 yield of 0.7%. The ex-dividend date is Friday, February 13th. Minerals Technologies’s dividend payout ratio is -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.