Isthmus Partners LLC Increases Stock Position in Minerals Technologies Inc. $MTX

Isthmus Partners LLC grew its holdings in Minerals Technologies Inc. (NYSE:MTX) by 43.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,210 shares of the basic materials company’s stock after purchasing an additional 13,488 shares during the quarter. Isthmus Partners LLC owned approximately 0.14% of Minerals Technologies worth $2,746,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the stock. First Horizon Advisors Inc. lifted its stake in Minerals Technologies by 161.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 590 shares of the basic materials company’s stock valued at $32,000 after buying an additional 364 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Minerals Technologies by 626.8% in the second quarter. EverSource Wealth Advisors LLC now owns 596 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 514 shares during the last quarter. First Horizon Corp purchased a new stake in shares of Minerals Technologies in the third quarter valued at $35,000. Strs Ohio acquired a new stake in shares of Minerals Technologies during the first quarter valued at $70,000. Finally, Smartleaf Asset Management LLC increased its position in Minerals Technologies by 136.2% during the 2nd quarter. Smartleaf Asset Management LLC now owns 1,278 shares of the basic materials company’s stock worth $71,000 after purchasing an additional 737 shares in the last quarter. 97.29% of the stock is currently owned by institutional investors and hedge funds.

Minerals Technologies Trading Down 0.2%

Shares of MTX stock opened at $72.13 on Friday. The firm’s 50-day simple moving average is $66.59 and its 200-day simple moving average is $62.48. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.08 and a quick ratio of 1.45. Minerals Technologies Inc. has a 1-year low of $49.54 and a 1-year high of $75.29. The firm has a market cap of $2.25 billion, a P/E ratio of -141.44 and a beta of 1.27.

Minerals Technologies (NYSE:MTX) last released its earnings results on Thursday, January 29th. The basic materials company reported $1.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.01). The company had revenue of $519.50 million during the quarter, compared to analysts’ expectations of $517.83 million. Minerals Technologies had a negative net margin of 0.89% and a positive return on equity of 10.22%. Minerals Technologies’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.28 earnings per share. As a group, equities 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 will be paid on Friday, March 6th. Investors of record on Friday, February 13th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, February 13th. Minerals Technologies’s dividend payout ratio (DPR) is -94.12%.

Insiders Place Their Bets

In related news, insider Dj Monagle III sold 23,093 shares of Minerals Technologies stock in a transaction on Monday, December 29th. The stock was sold at an average price of $61.90, for a total value of $1,429,456.70. Following the transaction, the insider owned 84,349 shares in the company, valued at approximately $5,221,203.10. This trade represents a 21.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.30% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on MTX. Zacks Research upgraded shares of Minerals Technologies from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 14th. Weiss Ratings reissued a “sell (d+)” rating on shares of Minerals Technologies in a research note on Monday, December 22nd. Finally, Truist Financial raised their target price 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. One 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. According to MarketBeat, Minerals Technologies currently has a consensus rating of “Hold” and a consensus price target of $89.00.

Minerals Technologies Company 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.