Insider Buying: Minerals Technologies Inc. (NYSE:MTX) Director Purchases 370 Shares of Stock

Minerals Technologies Inc. (NYSE:MTX) Director Rocky Motwani purchased 370 shares of Minerals Technologies stock in a transaction dated Monday, June 16th. The stock was bought at an average cost of $54.31 per share, with a total value of $20,094.70. Following the completion of the transaction, the director now owns 1,192 shares in the company, valued at approximately $64,737.52. This represents a 45.01% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website.

Minerals Technologies Stock Performance

Minerals Technologies stock traded up $0.02 during mid-day trading on Tuesday, hitting $54.62. The company had a trading volume of 122,708 shares, compared to its average volume of 189,601. The company has a current ratio of 2.84, a quick ratio of 1.98 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of 10.56 and a beta of 1.22. The company’s fifty day moving average is $56.61 and its 200-day moving average is $66.70. Minerals Technologies Inc. has a 12-month low of $49.54 and a 12-month high of $90.30.

Minerals Technologies (NYSE:MTX) last posted its quarterly earnings results on Thursday, April 24th. The basic materials company reported $1.14 earnings per share 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 business 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 firm posted $1.49 earnings per share. The business’s revenue was down 8.0% compared to the same quarter last year. Equities research analysts predict that Minerals Technologies Inc. will post 6.62 EPS for the current year.

Minerals Technologies Announces Dividend

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

Hedge Funds Weigh In On Minerals Technologies

Several institutional investors have recently bought and sold shares of the company. Savant Capital LLC boosted its stake in Minerals Technologies by 7.4% in the fourth quarter. Savant Capital LLC now owns 3,783 shares of the basic materials company’s stock valued at $288,000 after acquiring an additional 260 shares in the last quarter. Rhumbline Advisers raised its position in Minerals Technologies by 1.9% in the fourth quarter. Rhumbline Advisers now owns 99,525 shares of the basic materials company’s stock worth $7,585,000 after acquiring an additional 1,877 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Minerals Technologies by 2.7% in the fourth quarter. Principal Financial Group Inc. now owns 166,647 shares of the basic materials company’s stock valued at $12,700,000 after buying an additional 4,356 shares in the last quarter. CIBC Asset Management Inc acquired a new position in Minerals Technologies during the fourth quarter worth $242,000. Finally, Venturi Wealth Management LLC purchased a new stake in shares of Minerals Technologies in the 4th quarter worth about $78,000. 97.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Wall Street Zen cut Minerals Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, April 9th. Truist Financial lowered 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, 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.