Key Points
- Insider sale: DJ Monagle III sold 23,093 shares on Dec. 29 at an average price of $61.90, trimming his holding by 21.49% to 84,349 shares (worth about $5.22M), per an SEC filing.
- Dividend increase: Minerals Technologies raised its quarterly dividend to $0.12 from $0.11 (annualized $0.48), implying a yield of roughly 0.8%.
- Street view: The consensus rating is "Reduce" with a $84 price target after recent downgrades, while the stock trades near $61 with a market cap around $1.90B.
Minerals Technologies Inc. (NYSE:MTX - Get Free Report) insider Dj Monagle III sold 23,093 shares of the business's stock in a transaction that occurred on Monday, December 29th. The stock was sold at an average price of $61.90, for a total value of $1,429,456.70. Following the transaction, the insider directly owned 84,349 shares in the company, valued at $5,221,203.10. The trade was a 21.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Minerals Technologies Trading Down 1.1%
Shares of Minerals Technologies stock opened at $60.91 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.98 and a quick ratio of 1.37. The business has a fifty day simple moving average of $58.85 and a two-hundred day simple moving average of $59.72. Minerals Technologies Inc. has a 1 year low of $49.54 and a 1 year high of $78.23. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of -3,043.98 and a beta of 1.27.
Minerals Technologies (NYSE:MTX - Get Free Report) last released 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 for the quarter. Minerals Technologies had a negative net margin of 0.08% and a positive return on equity of 10.69%. Research analysts forecast that Minerals Technologies Inc. will post 6.62 EPS for the current year.
Minerals Technologies Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Thursday, October 30th were paid a $0.12 dividend. This is an increase from Minerals Technologies's previous quarterly dividend of $0.11. The ex-dividend date was Thursday, October 30th. This represents a $0.48 dividend on an annualized basis and a yield of 0.8%. Minerals Technologies's dividend payout ratio (DPR) is currently -2,400.00%.
Hedge Funds Weigh In On Minerals Technologies
A number of hedge funds have recently added to or reduced their stakes in MTX. Hsbc Holdings PLC lifted its position in shares of Minerals Technologies by 9.2% during the 1st quarter. Hsbc Holdings PLC now owns 5,116 shares of the basic materials company's stock valued at $325,000 after acquiring an additional 431 shares during the period. Trexquant Investment LP raised its stake in Minerals Technologies by 29.7% in the first quarter. Trexquant Investment LP now owns 56,500 shares of the basic materials company's stock valued at $3,592,000 after purchasing an additional 12,945 shares in the last quarter. State of Wyoming raised its stake in Minerals Technologies by 11.5% in the first quarter. State of Wyoming now owns 2,684 shares of the basic materials company's stock valued at $171,000 after purchasing an additional 277 shares in the last quarter. Quarry LP lifted its position in Minerals Technologies by 105.3% during the first quarter. Quarry LP now owns 1,503 shares of the basic materials company's stock worth $96,000 after purchasing an additional 771 shares during the period. Finally, Graham Capital Management L.P. grew its stake in Minerals Technologies by 35.2% during the first quarter. Graham Capital Management L.P. now owns 19,402 shares of the basic materials company's stock worth $1,233,000 after buying an additional 5,056 shares in the last quarter. Institutional investors own 97.29% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on MTX. Zacks Research cut Minerals Technologies from a "hold" rating to a "strong sell" rating in a report on Tuesday, December 16th. Wall Street Zen cut Minerals Technologies from a "strong-buy" rating to a "buy" rating in a report on Saturday, October 18th. Finally, Weiss Ratings restated a "sell (d+)" rating on shares of Minerals Technologies in a research note on Monday, December 22nd. One research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus price target of $84.00.
View Our Latest Analysis on Minerals Technologies
About Minerals Technologies
(
Get Free Report)
Minerals Technologies Inc develops, produces and processes a broad range of mineral-based products and solutions that serve a variety of industrial applications. Its offerings include bentonite, perlite, precipitated calcium carbonate (PCC), mineral sands, foundry additives, performance minerals and specialty chemicals designed to enhance performance in markets such as paper, steel, construction, oil and gas, environmental remediation and consumer products.
The company operates through several business segments, including Specialty Minerals, Refractory Minerals, Performance Materials and Recycled Materials.
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