Skylands Capital LLC Purchases 24,055 Shares of Minerals Technologies Inc. (NYSE:MTX)

Skylands Capital LLC increased its holdings in Minerals Technologies Inc. (NYSE:MTX - Free Report) by 25.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 118,455 shares of the basic materials company's stock after purchasing an additional 24,055 shares during the quarter. Minerals Technologies makes up 1.1% of Skylands Capital LLC's investment portfolio, making the stock its 28th biggest 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 and hedge funds have also bought and sold shares of the stock. Blair William & Co. IL grew its position in shares of Minerals Technologies by 3.2% in the 4th quarter. Blair William & Co. IL now owns 5,657 shares of the basic materials company's stock valued at $431,000 after buying an additional 177 shares during the last quarter. Balyasny Asset Management L.P. boosted its holdings in Minerals Technologies by 4.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 5,312 shares of the basic materials company's stock valued at $405,000 after acquiring an additional 235 shares during the last quarter. QRG Capital Management Inc. lifted its position in shares of Minerals Technologies by 4.5% in the 4th quarter. QRG Capital Management Inc. now owns 6,481 shares of the basic materials company's stock worth $494,000 after purchasing an additional 280 shares during the period. Hillsdale Investment Management Inc. boosted its stake in shares of Minerals Technologies by 0.6% in the 4th quarter. Hillsdale Investment Management Inc. now owns 51,980 shares of the basic materials company's stock valued at $3,961,000 after purchasing an additional 300 shares during the last quarter. Finally, Bank of Montreal Can increased its position in shares of Minerals Technologies by 4.5% during the fourth quarter. Bank of Montreal Can now owns 7,309 shares of the basic materials company's stock worth $557,000 after buying an additional 312 shares during the period. 97.29% of the stock is currently owned by institutional investors and hedge funds.

Minerals Technologies Trading Up 2.6%

Shares of NYSE:MTX traded up $1.48 during mid-day trading on Wednesday, hitting $59.00. The company had a trading volume of 208,841 shares, compared to its average volume of 193,769. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.89 and a quick ratio of 1.31. Minerals Technologies Inc. has a one year low of $49.54 and a one year high of $90.30. The firm has a fifty day moving average price of $56.15 and a 200 day moving average price of $64.83. The company has a market capitalization of $1.87 billion, a PE ratio of -76.63 and a beta of 1.20.

Minerals Technologies (NYSE:MTX - Get Free Report) last announced its quarterly earnings data 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). The company had revenue of $491.80 million for the quarter, compared to analyst estimates of $502.03 million. Minerals Technologies had a negative net margin of 1.14% and a positive return on equity of 10.90%. Minerals Technologies's revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.49 EPS. As a group, research analysts forecast that Minerals Technologies Inc. will post 6.62 EPS for the current year.

Minerals Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 30th were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend was Friday, May 30th. Minerals Technologies's dividend payout ratio is currently -57.14%.

Insider Buying and Selling at Minerals Technologies

In related news, Director Kristina M. Johnson acquired 1,000 shares of the firm's stock in a transaction on Friday, May 2nd. The stock was purchased at an average cost of $53.79 per share, with a total value of $53,790.00. Following the acquisition, 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 position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Erik Aldag bought 1,000 shares of the business's stock in a transaction that occurred on Wednesday, April 30th. The shares were bought at an average cost of $50.37 per share, for a total transaction of $50,370.00. Following the transaction, the chief financial officer owned 4,245 shares of the company's stock, valued at $213,820.65. The trade was a 30.82% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders purchased 2,370 shares of company stock valued at $124,255. 3.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on MTX shares. Wall Street Zen cut shares of Minerals Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday, April 9th. Truist Financial cut 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.