Key Points
- Insider sale: Brett Argirakis sold 6,501 shares on Nov. 21 at an average price of $58.68, trimming his position by 19.06% to 27,602 shares valued at about $1.62 million.
- Dividend increase: Minerals Technologies raised its quarterly dividend to $0.12 (from $0.11), implying a $0.48 annualized payout and a ~0.8% yield, with an ex-dividend date of Oct. 30 and payment on Dec. 4.
- Company outlook: MTX has a $1.85 billion market cap, a 12‑month range of $49.54–$84.84 and a negative P/E, and analysts show a consensus "Hold" rating with a $84 target price.
Minerals Technologies Inc. (NYSE:MTX - Get Free Report) insider Brett Argirakis sold 6,501 shares of the business's stock in a transaction that occurred 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 transaction, the insider owned 27,602 shares of the company's stock, valued at approximately $1,619,685.36. This trade represents a 19.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Minerals Technologies Price Performance
Shares of MTX opened at $59.28 on Wednesday. The company has a 50 day moving average of $59.27 and a two-hundred day moving average of $59.30. The company has a quick ratio of 1.37, a current ratio of 1.98 and a debt-to-equity ratio of 0.56. Minerals Technologies Inc. has a twelve month low of $49.54 and a twelve month high of $84.84. The company has a market cap of $1.85 billion, a price-to-earnings ratio of -2,962.57 and a beta of 1.26.
Minerals Technologies (NYSE:MTX - Get Free Report) last issued its quarterly earnings data on Wednesday, March 15th. The basic materials company reported $1.50 EPS for the quarter. The firm had revenue of $557.00 million during the quarter. Minerals Technologies had a positive return on equity of 10.69% and a negative net margin of 0.08%. As a group, analysts predict that Minerals Technologies Inc. will post 6.62 earnings per share for the current fiscal year.
Minerals Technologies Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Thursday, October 30th will be issued a $0.12 dividend. This is a boost from Minerals Technologies's previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Thursday, October 30th. Minerals Technologies's dividend payout ratio is -2,400.00%.
Analysts Set New Price Targets
MTX has been the topic of several recent analyst reports. Wall Street Zen downgraded shares of Minerals Technologies from a "strong-buy" rating to a "buy" rating in a report on Saturday, October 18th. Weiss Ratings restated a "sell (d)" rating on shares of Minerals Technologies in a research note on Wednesday, November 19th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $84.00.
Read Our Latest Stock Analysis on MTX
Institutional Trading of Minerals Technologies
A number of hedge funds have recently modified their holdings of MTX. Nuveen LLC purchased a new position in Minerals Technologies during the first quarter valued at approximately $33,177,000. Brandes Investment Partners LP grew its stake in shares of Minerals Technologies by 436.3% during the 2nd 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 purchased a new position in shares of Minerals Technologies during the 2nd quarter valued at approximately $16,926,000. American Century Companies Inc. lifted its stake in shares of Minerals Technologies by 20.3% in the 2nd quarter. American Century Companies Inc. now owns 1,284,532 shares of the basic materials company's stock valued at $70,739,000 after purchasing an additional 216,453 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in Minerals Technologies by 26.5% during the second quarter. Ameriprise Financial Inc. now owns 496,215 shares of the basic materials company's stock worth $27,327,000 after buying an additional 103,853 shares in the last quarter. Hedge funds and other institutional investors own 97.29% of the company's stock.
Minerals Technologies Company Profile
(
Get Free Report)
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.
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