Minerals Technologies (NYSE:MTX) Insider Dj Monagle III Sells 23,093 Shares

Minerals Technologies Inc. (NYSE:MTX) insider Dj Monagle III sold 23,093 shares of the firm’s stock in a transaction that occurred on Monday, December 29th. The stock was sold at an average price of $61.90, for a total transaction of $1,429,456.70. Following the completion of the transaction, the insider directly owned 84,349 shares in the company, valued at $5,221,203.10. This trade represents a 21.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Minerals Technologies Stock Down 0.9%

MTX traded down $0.54 on Wednesday, reaching $61.03. The company’s stock had a trading volume of 47,932 shares, compared to its average volume of 224,603. The company has a quick ratio of 1.37, a current ratio of 1.98 and a debt-to-equity ratio of 0.56. The stock has a 50 day moving average of $58.84 and a two-hundred day moving average of $59.71. Minerals Technologies Inc. has a fifty-two week low of $49.54 and a fifty-two week high of $78.23. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of -3,049.73 and a beta of 1.27.

Minerals Technologies (NYSE:MTX) last posted its quarterly earnings data on Wednesday, March 15th. The basic materials company reported $1.50 EPS for the quarter. Minerals Technologies had a positive return on equity of 10.69% and a negative net margin of 0.08%.The business had revenue of $557.00 million for the quarter. As a group, analysts forecast that Minerals Technologies Inc. will post 6.62 EPS for the current fiscal year.

Minerals Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Thursday, October 30th were issued a $0.12 dividend. The ex-dividend date was Thursday, October 30th. This is a positive change from Minerals Technologies’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a dividend yield of 0.8%. Minerals Technologies’s dividend payout ratio is -2,400.00%.

Institutional Investors Weigh In On Minerals Technologies

Several institutional investors and hedge funds have recently modified their holdings of the stock. First Horizon Advisors Inc. increased its stake in shares of Minerals Technologies by 161.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 590 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 364 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Minerals Technologies by 626.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 596 shares of the basic materials company’s stock worth $33,000 after buying an additional 514 shares in the last quarter. First Horizon Corp bought a new stake in Minerals Technologies during the third quarter worth approximately $35,000. Blue Trust Inc. boosted its holdings in shares of Minerals Technologies by 44.6% during the second quarter. Blue Trust Inc. now owns 1,011 shares of the basic materials company’s stock worth $56,000 after purchasing an additional 312 shares during the period. Finally, Danske Bank A S acquired a new position in Minerals Technologies during the third quarter valued at approximately $56,000. Institutional investors own 97.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Weiss Ratings restated a “sell (d+)” rating on shares of Minerals Technologies in a research report on Monday, December 22nd. Zacks Research lowered Minerals Technologies from a “hold” rating to a “strong sell” rating in a research note on Tuesday, December 16th. Finally, Wall Street Zen cut Minerals Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 18th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $84.00.

About Minerals Technologies

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.