Insider Selling: Minerals Technologies (NYSE:MTX) Insider Sells 6,501 Shares of Stock

Minerals Technologies Inc. (NYSE:MTX) insider Brett Argirakis sold 6,501 shares of the business’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $58.68, for a total transaction of $381,478.68. Following the completion of the sale, the insider directly owned 27,602 shares in the company, valued at approximately $1,619,685.36. This represents a 19.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Minerals Technologies Stock Up 3.5%

Minerals Technologies stock traded up $2.01 during mid-day trading on Tuesday, reaching $59.74. The company’s stock had a trading volume of 64,921 shares, compared to its average volume of 228,131. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.37 and a current ratio of 1.98. Minerals Technologies Inc. has a 12 month low of $49.54 and a 12 month high of $84.84. The business’s 50 day simple moving average is $59.35 and its 200 day simple moving average is $59.28. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of -2,985.26 and a beta of 1.26.

Minerals Technologies (NYSE:MTX) last posted its quarterly earnings data on Wednesday, March 15th. The basic materials company reported $1.50 EPS for the quarter. The company had revenue of $557.00 million during the quarter. Minerals Technologies had a negative net margin of 0.08% and a positive return on equity of 10.69%. As a group, research analysts anticipate that Minerals Technologies Inc. will post 6.62 earnings per share for the current year.

Minerals Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Thursday, October 30th will be paid a $0.12 dividend. This is a positive change from Minerals Technologies’s previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Thursday, October 30th. Minerals Technologies’s dividend payout ratio is -2,400.00%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Nuveen LLC acquired a new stake in shares of Minerals Technologies in the first quarter valued at about $33,177,000. Brandes Investment Partners LP grew its holdings in Minerals Technologies by 436.3% in the second quarter. Brandes Investment Partners LP now owns 538,073 shares of the basic materials company’s stock worth $29,632,000 after purchasing an additional 437,734 shares during the period. Broad Bay Capital Management LP bought a new stake in Minerals Technologies in the second quarter valued at $16,926,000. American Century Companies Inc. boosted its position in shares of Minerals Technologies by 20.3% during the 2nd quarter. American Century Companies Inc. now owns 1,284,532 shares of the basic materials company’s stock worth $70,739,000 after purchasing an additional 216,453 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of Minerals Technologies by 26.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 496,215 shares of the basic materials company’s stock valued at $27,327,000 after buying an additional 103,853 shares during the period. 97.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on MTX shares. Truist Financial upped their price objective on Minerals Technologies from $80.00 to $84.00 and gave the company a “buy” rating in a research note on Monday, July 28th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Minerals Technologies in a research note on Wednesday, November 19th. Finally, Wall Street Zen lowered Minerals Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 18th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Minerals Technologies currently has a consensus rating of “Hold” and a consensus target price of $84.00.

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.