Minerals Technologies Inc. (NYSE:MTX) Shares Purchased by Skylands Capital LLC

Skylands Capital LLC grew its holdings in Minerals Technologies Inc. (NYSE:MTX - Free Report) by 25.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,455 shares of the basic materials company's stock after purchasing an additional 24,055 shares during the quarter. Minerals Technologies comprises approximately 1.1% of Skylands Capital LLC's portfolio, making the stock its 28th largest holding. Skylands Capital LLC owned approximately 0.37% of Minerals Technologies worth $7,530,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. FMR LLC raised its position in shares of Minerals Technologies by 42.7% during the 4th quarter. FMR LLC now owns 1,761,925 shares of the basic materials company's stock valued at $134,276,000 after buying an additional 527,206 shares during the period. Norges Bank purchased a new stake in shares of Minerals Technologies during the 4th quarter valued at approximately $16,360,000. American Century Companies Inc. raised its position in shares of Minerals Technologies by 31.1% during the 4th quarter. American Century Companies Inc. now owns 861,173 shares of the basic materials company's stock valued at $65,630,000 after buying an additional 204,371 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Minerals Technologies during the 4th quarter valued at approximately $10,797,000. Finally, Foundry Partners LLC purchased a new stake in shares of Minerals Technologies during the 4th quarter valued at approximately $7,735,000. 97.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on MTX. Truist Financial reduced their price target on shares of Minerals Technologies from $92.00 to $80.00 and set a "buy" rating on the stock 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 Trading Up 0.0%

NYSE MTX traded up $0.02 on Friday, reaching $55.63. The stock had a trading volume of 443,510 shares, compared to its average volume of 192,970. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of -72.24 and a beta of 1.22. The company has a quick ratio of 1.31, a current ratio of 1.89 and a debt-to-equity ratio of 0.59. Minerals Technologies Inc. has a 12-month low of $49.54 and a 12-month high of $90.30. The stock has a fifty day moving average price of $56.16 and a two-hundred day moving average price of $65.15.

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

Minerals Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 30th were paid 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 0.79%. Minerals Technologies's dividend payout ratio (DPR) is -57.14%.

Insiders Place Their Bets

In other Minerals Technologies news, Director Kristina M. Johnson purchased 1,000 shares of the company's stock in a transaction on Friday, May 2nd. The stock was acquired at an average price of $53.79 per share, for a total transaction of $53,790.00. Following the completion of the purchase, the director now directly owns 1,400 shares in the company, valued at approximately $75,306. The trade was a 250.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders acquired a total of 2,370 shares of company stock worth $124,255 over the last 90 days. Corporate insiders own 3.30% of the company's stock.

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.