Minerals Technologies Inc. (NYSE:MTX) insider Jonathan J. Hastings sold 5,190 shares of the stock in a transaction dated Monday, December 28th. The stock was sold at an average price of $62.52, for a total transaction of $324,478.80. Following the sale, the insider now directly owns 40,165 shares in the company, valued at approximately $2,511,115.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Shares of MTX stock opened at $62.12 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 2.91 and a current ratio of 3.85. The company has a market capitalization of $2.11 billion, a P/E ratio of 19.41, a price-to-earnings-growth ratio of 3.50 and a beta of 1.53. The company’s 50 day moving average price is $61.42 and its two-hundred day moving average price is $53.58. Minerals Technologies Inc. has a 52 week low of $27.28 and a 52 week high of $66.24.
Minerals Technologies (NYSE:MTX) last announced its earnings results on Thursday, October 29th. The basic materials company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.87 by $0.05. The firm had revenue of $388.00 million for the quarter, compared to the consensus estimate of $386.08 million. Minerals Technologies had a net margin of 6.88% and a return on equity of 9.20%. The business’s quarterly revenue was down 13.6% on a year-over-year basis. During the same period last year, the company posted $1.06 EPS. Analysts forecast that Minerals Technologies Inc. will post 3.84 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, December 10th. Shareholders of record on Monday, November 2nd were issued a dividend of $0.05 per share. The ex-dividend date was Friday, October 30th. This represents a $0.20 annualized dividend and a yield of 0.32%. Minerals Technologies’s dividend payout ratio (DPR) is currently 4.73%.
Hedge funds have recently made changes to their positions in the business. Harbor Investment Advisory LLC raised its holdings in Minerals Technologies by 105.1% during the 3rd quarter. Harbor Investment Advisory LLC now owns 798 shares of the basic materials company’s stock worth $41,000 after buying an additional 409 shares during the period. Mackay Shields LLC acquired a new stake in Minerals Technologies during the 3rd quarter worth approximately $210,000. Wedge Capital Management L L P NC acquired a new stake in shares of Minerals Technologies in the third quarter valued at approximately $212,000. BNP Paribas Arbitrage SA raised its holdings in shares of Minerals Technologies by 53.8% in the third quarter. BNP Paribas Arbitrage SA now owns 5,107 shares of the basic materials company’s stock valued at $261,000 after purchasing an additional 1,787 shares during the last quarter. Finally, Raymond James & Associates raised its holdings in shares of Minerals Technologies by 38.5% in the third quarter. Raymond James & Associates now owns 7,002 shares of the basic materials company’s stock valued at $358,000 after purchasing an additional 1,947 shares during the last quarter. Hedge funds and other institutional investors own 84.54% of the company’s stock.
A number of equities research analysts have commented on MTX shares. Zacks Investment Research raised shares of Minerals Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, October 6th. Sidoti started coverage on shares of Minerals Technologies in a report on Monday, October 19th. They set a “buy” rating on the stock. JPMorgan Chase & Co. lowered shares of Minerals Technologies from an “overweight” rating to a “neutral” rating and set a $63.00 price objective on the stock. in a report on Thursday, December 17th. Seaport Global Securities assumed coverage on shares of Minerals Technologies in a research note on Monday, September 21st. They issued a “buy” rating and a $65.00 target price on the stock. Finally, TheStreet raised shares of Minerals Technologies from a “c” rating to a “b-” rating in a research note on Friday, October 30th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $61.00.
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 Performance Materials segment supplies bentonite and bentonite-related products, as well as chromite and leonardite.
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