Minerals Technologies Inc. (NYSE:MTX) CFO Erik Aldag Buys 1,000 Shares

Minerals Technologies Inc. (NYSE:MTX) CFO Erik Aldag bought 1,000 shares of the stock in a transaction that occurred on Wednesday, April 30th. The stock was purchased at an average price of $50.37 per share, for a total transaction of $50,370.00. Following the completion of the purchase, the chief financial officer now directly owns 4,245 shares in the company, valued at $213,820.65. The trade was a 30.82 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Minerals Technologies Price Performance

Shares of Minerals Technologies stock opened at $52.74 on Friday. The firm has a fifty day moving average price of $61.57 and a two-hundred day moving average price of $71.85. Minerals Technologies Inc. has a fifty-two week low of $49.54 and a fifty-two week high of $90.30. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.84 and a quick ratio of 1.98. The company has a market cap of $1.68 billion, a PE ratio of 10.18 and a beta of 1.25.

Minerals Technologies (NYSE:MTX) last released its earnings results on Thursday, April 24th. The basic materials company reported $1.14 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.02). The company had revenue of $491.80 million during the quarter, compared to the consensus estimate of $502.03 million. Minerals Technologies had a net margin of 7.89% and a return on equity of 11.49%. The firm’s quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.49 EPS. Analysts expect that Minerals Technologies Inc. will post 6.62 EPS for the current year.

Institutional Trading of Minerals Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC boosted its stake in Minerals Technologies by 42.7% during the fourth quarter. FMR LLC now owns 1,761,925 shares of the basic materials company’s stock worth $134,276,000 after buying an additional 527,206 shares in the last quarter. Norges Bank bought a new position in shares of Minerals Technologies during the 4th quarter worth about $16,360,000. American Century Companies Inc. boosted its position in shares of Minerals Technologies by 31.1% during the 4th quarter. American Century Companies Inc. now owns 861,173 shares of the basic materials company’s stock valued at $65,630,000 after acquiring an additional 204,371 shares in the last quarter. Raymond James Financial Inc. bought a new position in Minerals Technologies during the fourth quarter worth about $10,797,000. Finally, Foundry Partners LLC acquired a new stake in Minerals Technologies during the fourth quarter valued at approximately $7,735,000. 97.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MTX. StockNews.com downgraded Minerals Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, April 9th. Truist Financial cut their price target on Minerals Technologies from $92.00 to $80.00 and set a “buy” rating for the company in a report on Monday.

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.