Insider Buying: Minerals Technologies Inc (MTX) Director Acquires 800 Shares of Stock

Minerals Technologies Inc (NYSE:MTX) Director Joseph C. Breunig acquired 800 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was purchased at an average cost of $69.36 per share, with a total value of $55,488.00. Following the acquisition, the director now directly owns 1,200 shares of the company’s stock, valued at approximately $83,232. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Shares of Minerals Technologies Inc (MTX) traded down $0.80 on Thursday, hitting $68.25. 284,137 shares of the company were exchanged, compared to its average volume of 200,838. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.75 and a quick ratio of 2.04. Minerals Technologies Inc has a 12-month low of $62.55 and a 12-month high of $80.50. The stock has a market capitalization of $2,445.62, a price-to-earnings ratio of 12.50 and a beta of 2.29.

Minerals Technologies (NYSE:MTX) last announced its quarterly earnings data on Thursday, February 1st. The basic materials company reported $1.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.01. Minerals Technologies had a net margin of 11.64% and a return on equity of 13.89%. The firm had revenue of $432.10 million during the quarter, compared to analyst estimates of $411.95 million. During the same quarter in the prior year, the firm posted $1.08 earnings per share. Minerals Technologies’s quarterly revenue was up 7.7% on a year-over-year basis. equities analysts anticipate that Minerals Technologies Inc will post 4.95 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 8th. Investors of record on Friday, February 16th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date is Thursday, February 15th. Minerals Technologies’s dividend payout ratio is currently 3.66%.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Tocqueville Asset Management L.P. lifted its position in Minerals Technologies by 11.2% in the third quarter. Tocqueville Asset Management L.P. now owns 213,646 shares of the basic materials company’s stock valued at $15,094,000 after buying an additional 21,500 shares during the last quarter. FMR LLC acquired a new position in Minerals Technologies in the second quarter valued at about $1,183,000. Legal & General Group Plc lifted its position in Minerals Technologies by 11.3% in the third quarter. Legal & General Group Plc now owns 30,041 shares of the basic materials company’s stock valued at $2,122,000 after buying an additional 3,055 shares during the last quarter. GSA Capital Partners LLP acquired a new position in Minerals Technologies in the second quarter valued at about $423,000. Finally, Wells Fargo & Company MN lifted its position in Minerals Technologies by 8.1% in the third quarter. Wells Fargo & Company MN now owns 37,364 shares of the basic materials company’s stock valued at $2,639,000 after buying an additional 2,796 shares during the last quarter. 95.62% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts recently issued reports on MTX shares. Zacks Investment Research raised shares of Minerals Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, October 25th. KeyCorp reissued a “hold” rating on shares of Minerals Technologies in a report on Monday, November 6th. Finally, ValuEngine raised shares of Minerals Technologies from a “hold” rating to a “buy” rating in a report on Thursday, January 4th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $80.00.

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About Minerals Technologies

Minerals Technologies Inc is a resource- and technology-based company that develops, produces and markets a range of specialty mineral, mineral-based and synthetic mineral products and related systems and services around the world. It operates through four segments. The Specialty Minerals segment produces and sells the synthetic mineral product precipitated calcium carbonate (PCC), mines mineral ores, and processes and sells natural mineral products, primarily limestone and talc.

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