Minerals Technologies (NYSE:MTX) Hits New 1-Year High at $88.07

Minerals Technologies Inc. (NYSE:MTX)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $88.07 and last traded at $87.86, with a volume of 13311 shares. The stock had previously closed at $85.59.

Minerals Technologies Trading Down 1.2 %

The company has a market cap of $2.82 billion, a price-to-earnings ratio of 30.28 and a beta of 1.32. The company has a quick ratio of 1.75, a current ratio of 2.49 and a debt-to-equity ratio of 0.53. The company’s 50-day moving average is $83.50 and its 200 day moving average is $75.56.

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

Minerals Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Friday, August 16th will be given a dividend of $0.10 per share. The ex-dividend date is Friday, August 16th. This represents a $0.40 dividend on an annualized basis and a yield of 0.46%. Minerals Technologies’s payout ratio is presently 13.84%.

Insider Buying and Selling

In other Minerals Technologies news, 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 transaction, the insider now directly owns 79,731 shares in the company, valued at approximately $6,667,903.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Minerals Technologies news, VP Michael Cipolla sold 11,958 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $84.36, for a total value of $1,008,776.88. Following the sale, the vice president now directly owns 35,864 shares of the company’s stock, valued at approximately $3,025,487.04. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Dj Monagle III sold 14,229 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $83.63, for a total transaction of $1,189,971.27. Following the completion of the sale, the insider now directly owns 79,731 shares in the company, valued at $6,667,903.53. The disclosure for this sale can be found here. Over the last three months, insiders have sold 57,459 shares of company stock worth $4,842,108. 3.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Minerals Technologies

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Minerals Technologies by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 3,738,256 shares of the basic materials company’s stock valued at $281,416,000 after buying an additional 25,056 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Minerals Technologies by 2.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,267,569 shares of the basic materials company’s stock valued at $161,702,000 after buying an additional 49,192 shares during the last quarter. Boston Trust Walden Corp grew its position in shares of Minerals Technologies by 0.5% in the 4th quarter. Boston Trust Walden Corp now owns 644,055 shares of the basic materials company’s stock valued at $45,928,000 after buying an additional 3,135 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Minerals Technologies by 10.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 514,036 shares of the basic materials company’s stock valued at $38,697,000 after buying an additional 48,378 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Minerals Technologies by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 470,476 shares of the basic materials company’s stock valued at $33,550,000 after buying an additional 11,636 shares during the last quarter. 97.29% of the stock is owned by hedge funds and other institutional investors.

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.