Minerals Technologies Inc (NYSE:MTX) SVP Thomas J. Meek sold 7,502 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $45.90, for a total transaction of $344,341.80. Following the completion of the transaction, the senior vice president now directly owns 65,752 shares of the company’s stock, valued at approximately $3,018,016.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of MTX stock traded up $1.80 during trading hours on Thursday, reaching $48.16. 1,923 shares of the company’s stock were exchanged, compared to its average volume of 193,468. The stock’s 50 day moving average is $50.57 and its 200-day moving average is $56.30. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 9.95, a P/E/G ratio of 3.06 and a beta of 1.85. The company has a current ratio of 2.30, a quick ratio of 1.66 and a debt-to-equity ratio of 0.61. Minerals Technologies Inc has a fifty-two week low of $45.26 and a fifty-two week high of $70.55.
Minerals Technologies (NYSE:MTX) last issued its quarterly earnings results on Thursday, August 1st. The basic materials company reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.05. The business had revenue of $463.80 million for the quarter, compared to the consensus estimate of $458.47 million. Minerals Technologies had a return on equity of 11.82% and a net margin of 8.40%. The business’s quarterly revenue was down .2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.28 earnings per share. Equities analysts anticipate that Minerals Technologies Inc will post 4.34 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 23rd will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date is Thursday, August 22nd. Minerals Technologies’s payout ratio is presently 4.13%.
Several hedge funds have recently modified their holdings of MTX. Point72 Hong Kong Ltd acquired a new position in shares of Minerals Technologies in the 2nd quarter valued at $44,000. Quantamental Technologies LLC increased its position in shares of Minerals Technologies by 11.8% in the 1st quarter. Quantamental Technologies LLC now owns 1,895 shares of the basic materials company’s stock valued at $111,000 after acquiring an additional 200 shares during the period. Starr International Co. Inc. acquired a new position in shares of Minerals Technologies in the 1st quarter valued at $147,000. Tower Research Capital LLC TRC increased its position in shares of Minerals Technologies by 123.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,933 shares of the basic materials company’s stock valued at $157,000 after acquiring an additional 1,620 shares during the period. Finally, Magnus Financial Group LLC acquired a new position in shares of Minerals Technologies in the 1st quarter valued at $205,000. 95.05% of the stock is currently owned by institutional investors and hedge funds.
MTX has been the subject of a number of recent research reports. ValuEngine raised shares of Minerals Technologies from a “strong sell” rating to a “sell” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. downgraded shares of Minerals Technologies from an “overweight” rating to a “neutral” rating and set a $65.00 price objective for the company. in a research note on Wednesday, May 1st. TheStreet downgraded shares of Minerals Technologies from a “b-” rating to a “c+” rating in a research note on Thursday, May 30th. Finally, Zacks Investment Research downgraded Minerals Technologies from a “hold” rating to a “sell” rating in a research report on Tuesday, July 9th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $65.00.
About Minerals Technologies
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 Specialty Minerals segment produces and sells precipitated calcium carbonate and quicklime; and provides natural mineral products comprising limestone and talc.
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