Shares of Minerals Technologies Inc. (NYSE:MTX – Get Rating) reached a new 52-week low during trading on Friday . The company traded as low as $49.38 and last traded at $49.41, with a volume of 337130 shares trading hands. The stock had previously closed at $50.02.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on the stock. CL King lowered shares of Minerals Technologies from a "buy" rating to a "neutral" rating in a research report on Tuesday, August 30th. StockNews.com downgraded shares of Minerals Technologies from a "buy" rating to a "hold" rating in a research note on Tuesday, June 28th.
Get Minerals Technologies alerts:Minerals Technologies Stock Down 1.2 %
The company's 50-day moving average is $60.47 and its 200 day moving average is $62.61. The company has a market capitalization of $1.61 billion, a PE ratio of 9.61 and a beta of 1.28. 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 (NYSE:MTX – Get Rating) last posted its earnings results on Thursday, July 28th. The basic materials company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.04. The business had revenue of $577.00 million for the quarter, compared to analysts' expectations of $533.65 million. Minerals Technologies had a net margin of 8.46% and a return on equity of 11.44%. The business's revenue for the quarter was up 26.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.29 EPS. As a group, analysts anticipate that Minerals Technologies Inc. will post 5.52 EPS for the current year.Minerals Technologies Dividend Announcement
The firm also recently disclosed 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 annualized dividend and a dividend yield of 0.40%. The ex-dividend date was Thursday, August 18th. Minerals Technologies's dividend payout ratio (DPR) is presently 3.89%.
Insider Buying and Selling
In related news, insider Dj Monagle III sold 19,673 shares of the firm'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 transaction, the insider now directly owns 72,402 shares of the company's stock, valued at $4,587,390.72. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, VP Michael Cipolla sold 6,356 shares of Minerals Technologies stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $64.27, for a total transaction of $408,500.12. Following the completion of the sale, the vice president now directly owns 32,286 shares in the company, valued at $2,075,021.22. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Dj Monagle III sold 19,673 shares of Minerals Technologies stock in a transaction on Monday, September 12th. The stock was sold at an average price of $63.36, for a total value of $1,246,481.28. Following the sale, the insider now owns 72,402 shares of the company's stock, valued at $4,587,390.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,067 shares of company stock valued at $3,404,799. 3.20% of the stock is owned by corporate insiders.
Institutional Trading of Minerals Technologies
Institutional investors and hedge funds have recently made changes to their positions in the business. Ellevest Inc. lifted its position 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 purchasing an additional 209 shares during the last quarter. Pinebridge Investments L.P. lifted its position in shares of Minerals Technologies by 389.0% during the second quarter. Pinebridge Investments L.P. now owns 489 shares of the basic materials company's stock worth $30,000 after purchasing an additional 389 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of Minerals Technologies during the second quarter worth $37,000. Washington Trust Advisors Inc. bought a new stake in shares of Minerals Technologies during the second quarter worth $49,000. Finally, Quantbot Technologies LP lifted its position in shares of Minerals Technologies by 126.1% during the second quarter. Quantbot Technologies LP now owns 997 shares of the basic materials company's stock worth $61,000 after purchasing an additional 556 shares during the last quarter. 96.13% of the stock is currently owned by institutional investors.
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.
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