Isthmus Partners LLC Purchases New Shares in Minerals Technologies Inc. (NYSE:MTX)

Isthmus Partners LLC purchased a new stake in Minerals Technologies Inc. (NYSE:MTX - Free Report) in the first quarter, according to its most recent filing with the SEC. The fund 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 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its stake in Minerals Technologies by 0.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 555,157 shares of the basic materials company's stock worth $42,309,000 after buying an additional 2,647 shares during the last quarter. Proficio Capital Partners LLC bought a new position in Minerals Technologies during the 4th quarter worth $2,451,000. Raymond James Financial Inc. bought a new position in Minerals Technologies during the 4th quarter worth $10,797,000. Amundi grew its stake in Minerals Technologies by 189.5% during the 4th quarter. Amundi now owns 16,704 shares of the basic materials company's stock worth $1,224,000 after buying an additional 10,934 shares during the last quarter. Finally, HighTower Advisors LLC grew its stake in Minerals Technologies by 602.4% during the 4th quarter. HighTower Advisors LLC now owns 27,877 shares of the basic materials company's stock worth $2,125,000 after buying an additional 23,908 shares during the last quarter. 97.29% of the stock is currently owned by institutional investors.

Minerals Technologies Trading Up 0.1%

Shares of Minerals Technologies stock traded up $0.08 on Wednesday, reaching $57.01. 259,347 shares of the company were exchanged, compared to its average volume of 197,064. The stock has a fifty day moving average price of $57.22 and a 200-day moving average price of $63.56. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of -74.03 and a beta of 1.20. The company has a current ratio of 1.89, a quick ratio of 1.31 and a debt-to-equity ratio of 0.59. Minerals Technologies Inc. has a fifty-two week low of $49.54 and a fifty-two week high of $90.30.

Minerals Technologies (NYSE:MTX - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The basic materials company reported $1.14 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.02). Minerals Technologies had a negative net margin of 1.14% and a positive return on equity of 10.90%. The business had revenue of $491.80 million for the quarter, compared to analyst estimates of $502.03 million. During the same period in the previous year, the firm posted $1.49 earnings per share. The firm's quarterly revenue was down 8.0% on a year-over-year basis. On average, 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, September 5th. Shareholders of record on Friday, August 15th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.77%. Minerals Technologies's payout ratio is currently -57.14%.

Insider Activity

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

Wall Street Analyst Weigh In

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

Minerals Technologies Company Profile

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.