Minerals Technologies Inc. (NYSE:MTX) Director Purchases $20,094.70 in Stock

Minerals Technologies Inc. (NYSE:MTX) Director Rocky Motwani acquired 370 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was purchased at an average cost of $54.31 per share, with a total value of $20,094.70. Following the completion of the acquisition, the director now owns 1,192 shares of the company’s stock, valued at $64,737.52. The trade was a 45.01% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Minerals Technologies Stock Performance

Minerals Technologies stock traded up $0.02 on Tuesday, hitting $54.62. The company’s stock had a trading volume of 122,708 shares, compared to its average volume of 189,601. The firm has a market cap of $1.73 billion, a P/E ratio of 10.56 and a beta of 1.22. The company has a fifty day moving average price of $56.61 and a 200-day moving average price of $66.70. Minerals Technologies Inc. has a one year low of $49.54 and a one year high of $90.30. The company has a quick ratio of 1.98, a current ratio of 2.84 and a debt-to-equity ratio of 0.54.

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

Minerals Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 30th were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.44 annualized dividend and a dividend yield of 0.81%. Minerals Technologies’s dividend payout ratio is -57.14%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MTX. Smartleaf Asset Management LLC raised its position in shares of Minerals Technologies by 181.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 506 shares of the basic materials company’s stock valued at $38,000 after buying an additional 326 shares in the last quarter. Quarry LP lifted its position in Minerals Technologies by 536.5% during the 4th quarter. Quarry LP now owns 732 shares of the basic materials company’s stock valued at $56,000 after acquiring an additional 617 shares during the period. Venturi Wealth Management LLC bought a new position in shares of Minerals Technologies during the fourth quarter valued at $78,000. Strs Ohio bought a new position in Minerals Technologies in the 1st quarter valued at approximately $70,000. Finally, Quantbot Technologies LP bought a new stake in shares of Minerals Technologies in the first quarter worth approximately $124,000. 97.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

MTX has been the subject of several research analyst reports. Wall Street Zen downgraded shares of Minerals Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, April 9th. Truist Financial lowered their price objective on shares of Minerals Technologies from $92.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, April 28th.

About Minerals Technologies

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.