Minerals Technologies Inc. (NYSE:MTX) Insider Sells $1,189,971.27 in Stock

Minerals Technologies Inc. (NYSE:MTX) insider Dj Monagle III sold 14,229 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $83.63, for a total value of $1,189,971.27. Following the completion of the sale, the insider now owns 79,731 shares in the company, valued at $6,667,903.53. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Minerals Technologies Stock Performance

Shares of NYSE:MTX opened at $83.07 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.49 and a quick ratio of 1.75. The business’s fifty day moving average price is $81.24 and its two-hundred day moving average price is $74.14. Minerals Technologies Inc. has a fifty-two week low of $48.61 and a fifty-two week high of $87.46. The stock has a market capitalization of $2.68 billion, a price-to-earnings ratio of 28.74 and a beta of 1.31.

Minerals Technologies (NYSE:MTX) last issued its earnings results on Thursday, April 25th. The basic materials company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.27 by $0.22. The company had revenue of $534.50 million for the quarter, compared to the consensus estimate of $545.55 million. Minerals Technologies had a net margin of 4.35% and a return on equity of 10.87%. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.14 EPS. As a group, analysts predict that Minerals Technologies Inc. will post 6.29 EPS for the current fiscal year.

Minerals Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Friday, May 31st were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend was Friday, May 31st. Minerals Technologies’s payout ratio is 13.84%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank bought a new stake in shares of Minerals Technologies during the fourth quarter worth $19,192,000. State of Alaska Department of Revenue increased its position in Minerals Technologies by 116.3% in the 4th quarter. State of Alaska Department of Revenue now owns 43,822 shares of the basic materials company’s stock valued at $3,124,000 after acquiring an additional 23,559 shares in the last quarter. Chesapeake Capital Corp IL bought a new position in shares of Minerals Technologies in the fourth quarter worth about $1,027,000. Wellington Management Group LLP lifted its position in shares of Minerals Technologies by 9.1% during the fourth quarter. Wellington Management Group LLP now owns 273,941 shares of the basic materials company’s stock worth $19,535,000 after purchasing an additional 22,857 shares in the last quarter. Finally, Qube Research & Technologies Ltd grew its stake in shares of Minerals Technologies by 42.5% during the third quarter. Qube Research & Technologies Ltd now owns 67,861 shares of the basic materials company’s stock valued at $3,716,000 after purchasing an additional 20,243 shares during the last quarter. 97.29% of the stock is owned by institutional investors and hedge funds.

About Minerals Technologies

Minerals Technologies Inc develops, produces, and markets various mineral, mineral-based, and related systems and services. The company operates through two segments, Consumer & Specialties, and Engineered Solutions segments. The Consumer & Specialties segment offers household and personal care products, such as pet litter, personal care, fabric care, edible oil and other fluid purification, animal health, and agricultural products; and specialty additives products, including precipitated calcium carbonate and ground calcium carbonate products that are used in the paper, paperboard, and fiber based packaging industries, as well as automotive, construction, and table and food applications.