Minerals Technologies Inc. (NYSE:MTX – Get Rating) CEO Douglas T. Dietrich sold 16,299 shares of the firm’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $60.06, for a total value of $978,917.94. Following the completion of the sale, the chief executive officer now directly owns 118,265 shares of the company’s stock, valued at $7,102,995.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Minerals Technologies Stock Performance
NYSE:MTX traded up $0.86 during mid-day trading on Monday, hitting $63.42. 317,002 shares of the stock were exchanged, compared to its average volume of 144,929. The stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of 12.17 and a beta of 1.28. The firm’s 50-day simple moving average is $62.53 and its 200 day simple moving average is $63.83. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.56 and a current ratio of 2.29. Minerals Technologies Inc. has a fifty-two week low of $56.38 and a fifty-two week high of $79.03.
Minerals Technologies (NYSE:MTX – Get Rating) last released its quarterly earnings results on Thursday, July 28th. The basic materials company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.04. The business had revenue of $577.00 million during the quarter, compared to analysts’ expectations of $533.65 million. Minerals Technologies had a return on equity of 11.44% and a net margin of 8.46%. The firm’s revenue for the quarter was up 26.5% compared to the same quarter last year. During the same period last year, the firm posted $1.29 EPS. As a group, equities analysts anticipate that Minerals Technologies Inc. will post 5.58 EPS for the current fiscal year.
Minerals Technologies Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Friday, August 19th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $0.20 annualized dividend and a yield of 0.32%. Minerals Technologies’s payout ratio is currently 3.89%.
Institutional Trading of Minerals Technologies
Hedge funds have recently added to or reduced their stakes in the company. Ellevest Inc. increased its stake in Minerals Technologies by 74.9% during the 2nd quarter. Ellevest Inc. now owns 488 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 209 shares during the period. Pinebridge Investments L.P. increased its stake in Minerals Technologies by 389.0% during the 2nd quarter. Pinebridge Investments L.P. now owns 489 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 389 shares during the period. Lazard Asset Management LLC bought a new position in Minerals Technologies during the 2nd quarter worth $37,000. Washington Trust Advisors Inc. bought a new position in Minerals Technologies during the 2nd quarter worth $49,000. Finally, Quantbot Technologies LP increased its stake in Minerals Technologies by 126.1% during the 2nd quarter. Quantbot Technologies LP now owns 997 shares of the basic materials company’s stock worth $61,000 after acquiring an additional 556 shares during the period. 96.13% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research firms have recently issued reports on MTX. StockNews.com cut Minerals Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, June 28th. CL King cut Minerals Technologies from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 30th.
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. The company operates through three segments: Performance Materials, Specialty Minerals and Refractories. The Performance Materials segment supplies bentonite and bentonite-related products, as well as leonardite.