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Minerals Technologies (NYSE:MTX) Shares Up 3.1%

Financial News Live · Sep 19, 2022 14:12

Minerals Technologies Inc. (NYSE:MTX – Get Rating)'s share price traded up 3.1% during trading on Monday . The company traded as high as $56.95 and last traded at $56.88. 781 shares changed hands during trading, a decline of 100% from the average session volume of 184,130 shares. The stock had previously closed at $55.17.

Wall Street Analyst Weigh In

Several brokerages recently commented 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 downgraded Minerals Technologies from a "buy" rating to a "neutral" rating in a report on Tuesday, August 30th.

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Minerals Technologies Stock Performance

The stock has a market capitalization of $1.87 billion, a P/E ratio of 10.73 and a beta of 1.28. The company has a fifty day moving average of $62.36 and a two-hundred day moving average of $63.48. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.29 and a quick ratio of 1.56.

Minerals Technologies (NYSE:MTX – Get Rating) last announced its quarterly earnings data on Thursday, July 28th. The basic materials company reported $1.50 EPS for the quarter, beating analysts' consensus estimates of $1.46 by $0.04. Minerals Technologies had a return on equity of 11.44% and a net margin of 8.46%. The company had revenue of $577.00 million during the quarter, compared to the consensus estimate of $533.65 million. During the same quarter in the prior year, the firm earned $1.29 EPS. The company's quarterly revenue was up 26.5% compared to the same quarter last year. On average, equities analysts anticipate that Minerals Technologies Inc. will post 5.52 EPS for the current year.

Minerals Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Friday, August 19th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date was Thursday, August 18th. Minerals Technologies's dividend payout ratio (DPR) is presently 3.89%.

Insider Transactions at Minerals Technologies

In related news, insider Dj Monagle III sold 19,673 shares of the company's stock in a transaction on Monday, September 12th. The shares were sold at an average price of $63.36, for a total value of $1,246,481.28. Following the completion of the sale, the insider now directly owns 72,402 shares in the company, valued at $4,587,390.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Minerals Technologies news, insider Dj Monagle III sold 19,673 shares of the company's stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $63.36, for a total transaction of $1,246,481.28. Following the completion of the sale, the insider now directly owns 72,402 shares in the company, valued at $4,587,390.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Douglas T. Dietrich sold 16,299 shares of the stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $60.06, for a total transaction of $978,917.94. Following the completion of the sale, the chief executive officer now owns 118,265 shares of the company's stock, valued at approximately $7,102,995.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,067 shares of company stock valued at $3,404,799. 3.40% of the stock is owned by insiders.

Institutional Trading of Minerals Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Verdence Capital Advisors LLC boosted its position in shares of Minerals Technologies by 6.2% during the first quarter. Verdence Capital Advisors LLC now owns 3,532 shares of the basic materials company's stock worth $234,000 after purchasing an additional 207 shares in the last quarter. Ellevest Inc. raised its holdings in shares of Minerals Technologies by 74.9% during the second 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. Bank of Montreal Can raised its holdings in shares of Minerals Technologies by 3.3% during the second quarter. Bank of Montreal Can now owns 6,827 shares of the basic materials company's stock worth $423,000 after acquiring an additional 219 shares during the period. Texas Permanent School Fund raised its holdings in shares of Minerals Technologies by 1.0% during the second quarter. Texas Permanent School Fund now owns 23,828 shares of the basic materials company's stock worth $1,462,000 after acquiring an additional 225 shares during the period. Finally, Xponance Inc. raised its holdings in shares of Minerals Technologies by 4.9% during the second quarter. Xponance Inc. now owns 5,109 shares of the basic materials company's stock worth $313,000 after acquiring an additional 240 shares during the period. Institutional investors and hedge funds own 96.13% of the company's stock.

Minerals Technologies Company Profile

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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.