Insider Selling: Minerals Technologies Inc. (NYSE:MTX) Insider Sells $1,189,971.27 in Stock

Minerals Technologies Inc. (NYSE:MTX) insider Dj Monagle III sold 14,229 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $83.63, for a total value of $1,189,971.27. Following the sale, the insider now directly owns 79,731 shares of the company’s stock, valued at approximately $6,667,903.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Minerals Technologies Stock Performance

NYSE MTX opened at $83.07 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.49 and a quick ratio of 1.75. Minerals Technologies Inc. has a 1-year low of $48.61 and a 1-year high of $87.46. The firm has a market capitalization of $2.68 billion, a P/E ratio of 28.74 and a beta of 1.31. The business’s 50-day simple moving average is $81.24 and its 200-day simple moving average is $74.14.

Minerals Technologies (NYSE:MTX) last announced its quarterly earnings results on Thursday, April 25th. The basic materials company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.22. Minerals Technologies had a net margin of 4.35% and a return on equity of 10.87%. The firm had revenue of $534.50 million for the quarter, compared to analysts’ expectations of $545.55 million. During the same period in the previous year, the company posted $1.14 earnings per share. Minerals Technologies’s revenue was down 2.1% compared to the same quarter last year. Equities analysts predict that Minerals Technologies Inc. will post 6.29 EPS for the current year.

Minerals Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Friday, May 31st were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.40 annualized dividend and a yield of 0.48%. Minerals Technologies’s dividend payout ratio is currently 13.84%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Parallel Advisors LLC raised its holdings in shares of Minerals Technologies by 97.9% during the 4th quarter. Parallel Advisors LLC now owns 556 shares of the basic materials company’s stock valued at $40,000 after buying an additional 275 shares during the period. Fidelis Capital Partners LLC purchased a new stake in shares of Minerals Technologies during the first quarter valued at approximately $77,000. Acadian Asset Management LLC acquired a new position in shares of Minerals Technologies during the third quarter worth $58,000. International Assets Investment Management LLC boosted its stake in shares of Minerals Technologies by 1,266.0% in the fourth quarter. International Assets Investment Management LLC now owns 1,284 shares of the basic materials company’s stock valued at $92,000 after purchasing an additional 1,190 shares during the period. Finally, Lazard Asset Management LLC grew its holdings in Minerals Technologies by 374.9% during the 1st quarter. Lazard Asset Management LLC now owns 1,838 shares of the basic materials company’s stock valued at $138,000 after purchasing an additional 1,451 shares in the last quarter. Institutional investors and hedge funds own 97.29% of the company’s stock.

Minerals Technologies Company Profile

Minerals Technologies Inc develops, produces, and markets various mineral, mineral-based, and related systems and services. The company operates through two segments, Consumer & Specialties, and Engineered Solutions segments. The Consumer & Specialties segment offers household and personal care products, such as pet litter, personal care, fabric care, edible oil and other fluid purification, animal health, and agricultural products; and specialty additives products, including precipitated calcium carbonate and ground calcium carbonate products that are used in the paper, paperboard, and fiber based packaging industries, as well as automotive, construction, and table and food applications.