Minerals Technologies (NYSE:MTX) Sets New 52-Week High at $90.01

Minerals Technologies Inc. (NYSE:MTX) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $90.01 and last traded at $90.01, with a volume of 8687 shares trading hands. The stock had previously closed at $88.90.

Minerals Technologies Trading Down 8.8 %

The company’s 50-day simple moving average is $84.33 and its 200 day simple moving average is $76.28. The firm has a market capitalization of $2.60 billion, a PE ratio of 29.71 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.

Minerals Technologies (NYSE:MTX) last posted its quarterly earnings data on Thursday, July 25th. The basic materials company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.04. The firm had revenue of $541.20 million for the quarter, compared to the consensus estimate of $561.60 million. Minerals Technologies had a net margin of 4.35% and a return on equity of 10.87%. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.31 earnings per share. As a group, sell-side analysts expect that Minerals Technologies Inc. will post 6.29 EPS for the current year.

Minerals Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Friday, August 16th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.50%. Minerals Technologies’s payout ratio is currently 13.84%.

Insider Activity

In other news, insider Dj Monagle III sold 14,229 shares of Minerals Technologies 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 owns 79,731 shares in the company, valued at $6,667,903.53. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Dj Monagle III sold 14,229 shares of the company’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 completion of the sale, the insider now owns 79,731 shares of the company’s stock, valued at $6,667,903.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brett Argirakis sold 2,259 shares of Minerals Technologies stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $83.95, for a total transaction of $189,643.05. Following the sale, the insider now directly owns 23,102 shares in the company, valued at approximately $1,939,412.90. The disclosure for this sale can be found here. Insiders have sold 57,459 shares of company stock worth $4,842,108 in the last ninety days. Company insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On Minerals Technologies

Several institutional investors have recently bought and sold shares of the company. Skylands Capital LLC increased its position in shares of Minerals Technologies by 18.9% during the second quarter. Skylands Capital LLC now owns 50,300 shares of the basic materials company’s stock worth $4,183,000 after acquiring an additional 8,000 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Minerals Technologies by 2.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 528,945 shares of the basic materials company’s stock worth $43,987,000 after purchasing an additional 14,909 shares in the last quarter. Bailard Inc. purchased a new stake in Minerals Technologies during the 2nd quarter worth about $699,000. Bank of New York Mellon Corp raised its position in Minerals Technologies by 0.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 322,706 shares of the basic materials company’s stock valued at $26,836,000 after purchasing an additional 2,715 shares in the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new position in shares of Minerals Technologies in the 2nd quarter valued at about $160,000. 97.29% of the stock is owned by institutional investors and hedge funds.

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.