Skylands Capital LLC Sells 11,700 Shares of Minerals Technologies Inc. $MTX

Skylands Capital LLC lowered its holdings in shares of Minerals Technologies Inc. (NYSE:MTX) by 15.2% during the first quarter, Holdings Channel reports. The institutional investor owned 65,305 shares of the basic materials company’s stock after selling 11,700 shares during the quarter. Skylands Capital LLC’s holdings in Minerals Technologies were worth $4,631,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. ProShare Advisors LLC raised its stake in shares of Minerals Technologies by 3.2% in the 4th quarter. ProShare Advisors LLC now owns 6,139 shares of the basic materials company’s stock valued at $374,000 after buying an additional 192 shares in the last quarter. Rockefeller Capital Management L.P. boosted its position in shares of Minerals Technologies by 7.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,878 shares of the basic materials company’s stock valued at $175,000 after acquiring an additional 192 shares in the last quarter. Hsbc Holdings PLC boosted its position in shares of Minerals Technologies by 4.5% during the 4th quarter. Hsbc Holdings PLC now owns 4,514 shares of the basic materials company’s stock valued at $276,000 after acquiring an additional 193 shares in the last quarter. Jain Global LLC increased its stake in Minerals Technologies by 6.4% in the fourth quarter. Jain Global LLC now owns 4,143 shares of the basic materials company’s stock valued at $253,000 after acquiring an additional 248 shares during the period. Finally, Gotham Asset Management LLC increased its stake in Minerals Technologies by 2.5% in the fourth quarter. Gotham Asset Management LLC now owns 11,841 shares of the basic materials company’s stock valued at $722,000 after acquiring an additional 285 shares during the period. Institutional investors own 97.29% of the company’s stock.

Insider Activity at Minerals Technologies

In other news, VP Timothy Jordan sold 6,000 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $80.27, for a total transaction of $481,620.00. Following the sale, the vice president owned 1,279 shares in the company, valued at approximately $102,665.33. This represents a 82.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.70% of the company’s stock.

Minerals Technologies Stock Performance

NYSE:MTX opened at $79.47 on Friday. Minerals Technologies Inc. has a 1 year low of $53.94 and a 1 year high of $84.34. The firm has a 50 day moving average of $76.37 and a 200-day moving average of $70.64. The company has a current ratio of 2.13, a quick ratio of 1.47 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $2.46 billion, a P/E ratio of 15.37 and a beta of 1.13.

Minerals Technologies (NYSE:MTX) last released its quarterly earnings results on Thursday, April 30th. The basic materials company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.12. Minerals Technologies had a return on equity of 10.40% and a net margin of 7.60%.The business had revenue of $546.90 million for the quarter, compared to analyst estimates of $516.39 million. During the same period in the prior year, the company earned $1.14 EPS. Minerals Technologies’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Minerals Technologies Inc. will post 6.33 EPS for the current fiscal year.

Minerals Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Tuesday, June 2nd were paid a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $0.48 dividend on an annualized basis and a yield of 0.6%. Minerals Technologies’s payout ratio is currently 9.28%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Seaport Research Partners restated a “buy” rating on shares of Minerals Technologies in a research note on Monday, May 4th. Wall Street Zen cut Minerals Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 13th. Weiss Ratings raised Minerals Technologies from a “sell (d+)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. Finally, Truist Financial upped their price target on Minerals Technologies from $89.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, May 4th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $90.00.

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.