Skylands Capital LLC Sells 15,775 Shares of Minerals Technologies Inc. $MTX

Key Points

• Skylands Capital trimmed its stake in Minerals Technologies (NYSE:MTX) by 17%, selling 15,775 shares and now holds 77,005 shares worth about $4.69 million (≈0.25% of the company).
• Minerals Technologies reported Q results with EPS of $1.27 (missing estimates by $0.01) and revenue of $519.5M (slightly above estimates), while showing a negative net margin (-0.89%) and a PE ratio of -141.65.
• Analysts are mixed but the consensus is a Hold with a $89.00 target, and institutional investors own roughly 97% of the stock.

Skylands Capital LLC trimmed its stake in shares of Minerals Technologies Inc. (NYSE:MTX - Free Report) by 17.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 77,005 shares of the basic materials company's stock after selling 15,775 shares during the quarter. Skylands Capital LLC owned approximately 0.25% of Minerals Technologies worth $4,693,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in MTX. JPMorgan Chase & Co. increased its position in shares of Minerals Technologies by 24.1% during the third quarter. JPMorgan Chase & Co. now owns 156,584 shares of the basic materials company's stock worth $9,727,000 after buying an additional 30,443 shares during the period. CSM Advisors LLC boosted its position in Minerals Technologies by 17.3% during the third quarter. CSM Advisors LLC now owns 104,078 shares of the basic materials company's stock valued at $6,464,000 after acquiring an additional 15,384 shares during the last quarter. American Century Companies Inc. grew its holdings in Minerals Technologies by 3.1% during the 3rd quarter. American Century Companies Inc. now owns 1,324,392 shares of the basic materials company's stock worth $82,271,000 after acquiring an additional 39,860 shares during the period. Isthmus Partners LLC grew its holdings in Minerals Technologies by 43.9% during the 3rd quarter. Isthmus Partners LLC now owns 44,210 shares of the basic materials company's stock worth $2,746,000 after acquiring an additional 13,488 shares during the period. Finally, SummerHaven Investment Management LLC bought a new position in shares of Minerals Technologies in the 3rd quarter worth about $884,000. 97.29% of the stock is owned by institutional investors and hedge funds.

Minerals Technologies Stock Performance

Shares of MTX opened at $72.24 on Tuesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.08 and a quick ratio of 1.45. The stock has a 50-day moving average of $70.32 and a 200-day moving average of $65.05. The company has a market cap of $2.24 billion, a PE ratio of -141.65 and a beta of 1.19. Minerals Technologies Inc. has a one year low of $49.54 and a one year high of $75.29.

Minerals Technologies (NYSE:MTX - Get Free Report) last posted its quarterly earnings results on Thursday, January 29th. The basic materials company reported $1.27 earnings per share for the quarter, missing analysts' consensus estimates of $1.28 by ($0.01). Minerals Technologies had a positive return on equity of 10.22% and a negative net margin of 0.89%.The firm had revenue of $519.50 million for the quarter, compared to analyst estimates of $517.83 million. During the same period last year, the company posted $1.28 earnings per share. The firm's quarterly revenue was up .3% compared to the same quarter last year. On average, equities research analysts predict that Minerals Technologies Inc. will post 6.23 EPS for the current fiscal year.

Analysts Set New Price Targets

MTX has been the subject of several recent analyst reports. Wall Street Zen cut Minerals Technologies from a "strong-buy" rating to a "buy" rating in a research note on Saturday, April 18th. Zacks Research upgraded Minerals Technologies from a "strong sell" rating to a "hold" rating in a report on Wednesday, January 14th. Truist Financial raised their price objective on shares of Minerals Technologies from $84.00 to $89.00 and gave the stock a "buy" rating in a research report on Monday, February 2nd. Finally, Weiss Ratings reiterated a "sell (d+)" rating on shares of Minerals Technologies in a research note on Wednesday, April 22nd. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Minerals Technologies presently has a consensus rating of "Hold" and a consensus target price of $89.00.

Minerals Technologies Profile

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.

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