Isthmus Partners LLC Invests $1.28 Million in Minerals Technologies Inc. (NYSE:MTX)

Isthmus Partners LLC purchased a new position in shares of Minerals Technologies Inc. (NYSE:MTX - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 20,120 shares of the basic materials company's stock, valued at approximately $1,279,000. Isthmus Partners LLC owned about 0.06% of Minerals Technologies as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quarry LP increased its position in Minerals Technologies by 536.5% during the 4th quarter. Quarry LP now owns 732 shares of the basic materials company's stock valued at $56,000 after buying an additional 617 shares in the last quarter. Vestcor Inc acquired a new position in Minerals Technologies during the 4th quarter valued at about $185,000. Cibc World Markets Corp acquired a new position in Minerals Technologies during the 4th quarter valued at about $226,000. PharVision Advisers LLC acquired a new position in Minerals Technologies during the 4th quarter valued at about $236,000. Finally, Sterling Capital Management LLC increased its position in Minerals Technologies by 32.9% during the 4th quarter. Sterling Capital Management LLC now owns 3,589 shares of the basic materials company's stock valued at $274,000 after buying an additional 888 shares in the last quarter. 97.29% of the stock is owned by institutional investors.

Insider Activity at Minerals Technologies

In other news, CFO Erik Aldag purchased 1,000 shares of the stock in a transaction dated Wednesday, April 30th. The stock was acquired at an average cost of $50.37 per share, for a total transaction of $50,370.00. Following the completion of the transaction, the chief financial officer directly owned 4,245 shares in the company, valued at approximately $213,820.65. This represents a 30.82% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kristina M. Johnson purchased 1,000 shares of the stock in a transaction dated Friday, May 2nd. The shares were purchased at an average price of $53.79 per share, with a total value of $53,790.00. Following the completion of the transaction, the director owned 1,400 shares of the company's stock, valued at approximately $75,306. This trade represents a 250.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 2,370 shares of company stock valued at $124,255. Insiders own 3.30% of the company's stock.

Minerals Technologies Stock Performance

Shares of MTX traded down $0.46 during mid-day trading on Friday, reaching $59.20. The company had a trading volume of 175,434 shares, compared to its average volume of 196,903. Minerals Technologies Inc. has a 52-week low of $49.54 and a 52-week high of $90.30. The company has a quick ratio of 1.31, a current ratio of 1.89 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $1.88 billion, a P/E ratio of -76.88 and a beta of 1.20. The stock has a 50 day moving average of $57.01 and a two-hundred day moving average of $63.83.

Minerals Technologies (NYSE:MTX - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The basic materials company reported $1.14 earnings per share for the quarter, missing analysts' consensus estimates of $1.16 by ($0.02). Minerals Technologies had a positive return on equity of 10.90% and a negative net margin of 1.14%. The business had revenue of $491.80 million during the quarter, compared to analyst estimates of $502.03 million. During the same period in the previous year, the company posted $1.49 EPS. The business's revenue for the quarter was down 8.0% compared to the same quarter last year. On average, analysts expect that Minerals Technologies Inc. will post 6.62 earnings per share for the current year.

Minerals Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 30th were issued a $0.11 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.44 annualized dividend and a dividend yield of 0.74%. Minerals Technologies's dividend payout ratio is presently -57.14%.

Analyst Upgrades and Downgrades

MTX has been the topic of several recent analyst reports. Wall Street Zen lowered Minerals Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday, April 9th. Truist Financial reduced their target price on Minerals Technologies from $92.00 to $80.00 and set a "buy" rating on the stock in a research report on Monday, April 28th.

About Minerals Technologies

Minerals Technologies Inc develops, produces, and markets various mineral, mineral-based, and related systems and services. The company operates through two segments, Consumer & Specialties, and Engineered Solutions segments. The Consumer & Specialties segment offers household and personal care products, such as pet litter, personal care, fabric care, edible oil and other fluid purification, animal health, and agricultural products; and specialty additives products, including precipitated calcium carbonate and ground calcium carbonate products that are used in the paper, paperboard, and fiber based packaging industries, as well as automotive, construction, and table and food applications.