20,120 Shares in Minerals Technologies Inc. (NYSE:MTX) Purchased by Isthmus Partners LLC

Isthmus Partners LLC acquired a new stake in shares of Minerals Technologies Inc. (NYSE:MTX) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,120 shares of the basic materials company’s stock, valued at approximately $1,279,000. Isthmus Partners LLC owned 0.06% of Minerals Technologies at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Blair William & Co. IL increased its stake in 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 worth $431,000 after acquiring an additional 177 shares during the last quarter. Balyasny Asset Management L.P. lifted its stake in Minerals Technologies by 4.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 5,312 shares of the basic materials company’s stock worth $405,000 after purchasing an additional 235 shares during the last quarter. Hillsdale Investment Management Inc. boosted its holdings 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 worth $3,961,000 after purchasing an additional 300 shares in the last quarter. Bank of Montreal Can increased its position in shares of Minerals Technologies by 4.5% during the 4th quarter. Bank of Montreal Can now owns 7,309 shares of the basic materials company’s stock valued at $557,000 after purchasing an additional 312 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC grew its position in Minerals Technologies by 5.1% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 8,021 shares of the basic materials company’s stock valued at $611,000 after acquiring an additional 389 shares during the last quarter. Hedge funds and other institutional investors own 97.29% of the company’s stock.

Minerals Technologies Trading Down 0.8%

Shares of NYSE MTX opened at $59.20 on Friday. The stock has a market cap of $1.88 billion, a P/E ratio of -76.88 and a beta of 1.20. 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 1 year low of $49.54 and a 1 year high of $90.30. The firm has a 50-day moving average of $57.01 and a 200 day moving average of $63.83.

Minerals Technologies (NYSE:MTX) last issued 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). The company had revenue of $491.80 million for the quarter, compared to the consensus estimate 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 was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.49 earnings per share. As a group, sell-side analysts expect that Minerals Technologies Inc. will post 6.62 EPS for the current fiscal year.

Minerals Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 30th were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend was Friday, May 30th. Minerals Technologies’s payout ratio is currently -57.14%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on MTX shares. Wall Street Zen downgraded Minerals Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, April 9th. Truist Financial dropped their target price on shares of Minerals Technologies from $92.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, April 28th.

Insider Activity

In related news, CFO Erik Aldag bought 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 30th. The shares were bought at an average price of $50.37 per share, for a total transaction of $50,370.00. Following the completion of the acquisition, the chief financial officer owned 4,245 shares of the company’s stock, valued at $213,820.65. This trade represents a 30.82% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kristina M. Johnson acquired 1,000 shares of the stock in a transaction dated 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 purchase, the director directly owned 1,400 shares in the company, 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. Insiders have acquired a total of 2,370 shares of company stock worth $124,255 in the last 90 days. Company 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.