Insider Selling: Minerals Technologies Inc (MTX) Insider Sells 9,198 Shares of Stock

Minerals Technologies Inc (NYSE:MTX) insider Douglas W. Mayger sold 9,198 shares of the company’s stock in a transaction on Tuesday, June 12th. The stock was sold at an average price of $75.31, for a total transaction of $692,701.38. Following the completion of the sale, the insider now owns 46,887 shares of the company’s stock, valued at $3,531,059.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

NYSE:MTX traded down $0.05 during trading hours on Thursday, reaching $75.60. The company’s stock had a trading volume of 2,147 shares, compared to its average volume of 149,431. The company has a current ratio of 2.96, a quick ratio of 2.22 and a debt-to-equity ratio of 0.72. Minerals Technologies Inc has a one year low of $62.55 and a one year high of $77.15. The stock has a market capitalization of $2.66 billion, a PE ratio of 16.42, a P/E/G ratio of 1.86 and a beta of 2.27.

Minerals Technologies (NYSE:MTX) last released its quarterly earnings results on Thursday, May 3rd. The basic materials company reported $1.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.01. Minerals Technologies had a net margin of 11.77% and a return on equity of 13.36%. The company had revenue of $431.30 million during the quarter, compared to analysts’ expectations of $420.00 million. During the same period in the prior year, the company earned $0.97 earnings per share. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. sell-side analysts forecast that Minerals Technologies Inc will post 4.93 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 14th. Shareholders of record on Thursday, May 31st will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date of this dividend is Wednesday, May 30th. Minerals Technologies’s dividend payout ratio (DPR) is 4.36%.

A number of hedge funds have recently added to or reduced their stakes in MTX. Schwab Charles Investment Management Inc. boosted its holdings in Minerals Technologies by 7.1% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 225,149 shares of the basic materials company’s stock valued at $15,502,000 after acquiring an additional 14,876 shares during the period. Public Employees Retirement Association of Colorado bought a new stake in Minerals Technologies during the fourth quarter valued at about $152,000. American Century Companies Inc. boosted its holdings in Minerals Technologies by 3.1% during the fourth quarter. American Century Companies Inc. now owns 628,478 shares of the basic materials company’s stock valued at $43,271,000 after acquiring an additional 18,889 shares during the period. ING Groep NV boosted its holdings in Minerals Technologies by 24.2% during the fourth quarter. ING Groep NV now owns 5,337 shares of the basic materials company’s stock valued at $367,000 after acquiring an additional 1,039 shares during the period. Finally, Teacher Retirement System of Texas boosted its holdings in Minerals Technologies by 318.5% during the fourth quarter. Teacher Retirement System of Texas now owns 12,085 shares of the basic materials company’s stock valued at $832,000 after acquiring an additional 9,197 shares during the period. Institutional investors own 94.90% of the company’s stock.

A number of equities research analysts recently issued reports on MTX shares. ValuEngine cut shares of Minerals Technologies from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Zacks Investment Research upgraded shares of Minerals Technologies from a “hold” rating to a “buy” rating and set a $82.00 price objective for the company in a report on Tuesday, April 24th.

Minerals Technologies Company Profile

Minerals Technologies Inc develops, produces, and markets various specialty mineral, mineral-based, and synthetic mineral products, and supporting systems and services worldwide. The company's Specialty Minerals segment produces and sells precipitated calcium carbonate and quicklime; and provides natural mineral products comprising limestone and talc.

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