Minerals Technologies (NYSE:MTX) Reaches New 1-Year High at $90.01

Minerals Technologies Inc. (NYSE:MTX)’s stock price hit 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 traded. The stock had previously closed at $88.90.

Minerals Technologies Price Performance

The company has a fifty day simple moving average of $84.33 and a 200 day simple moving average of $76.28. The stock has a market capitalization of $2.60 billion, a price-to-earnings ratio of 29.71 and a beta of 1.32. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.75 and a current ratio of 2.49.

Minerals Technologies (NYSE:MTX) last announced its earnings results on Thursday, July 25th. The basic materials company reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.04. The business had revenue of $541.20 million during 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%. Minerals Technologies’s quarterly revenue was down 1.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.31 earnings per share. Equities research analysts forecast that Minerals Technologies Inc. will post 6.29 EPS for the current fiscal year.

Minerals Technologies Dividend Announcement

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

Insider Buying and Selling

In related news, Director Kristina M. Johnson purchased 400 shares of Minerals Technologies stock in a transaction on Thursday, May 16th. The stock was acquired at an average cost of $80.92 per share, for a total transaction of $32,368.00. Following the completion of the acquisition, the director now owns 400 shares of the company’s stock, valued at approximately $32,368. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Kristina M. Johnson purchased 400 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were acquired at an average cost of $80.92 per share, with a total value of $32,368.00. Following the purchase, the director now owns 400 shares in the company, valued at $32,368. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jonathan J. Hastings sold 7,814 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $83.13, for a total value of $649,577.82. Following the completion of the sale, the senior vice president now directly owns 53,862 shares of the company’s stock, valued at approximately $4,477,548.06. The disclosure for this sale can be found here. Insiders have sold a total of 57,459 shares of company stock valued at $4,842,108 over the last ninety days. 3.50% of the stock is owned by corporate insiders.

Institutional Trading of Minerals Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC acquired a new position in shares of Minerals Technologies during the fourth quarter valued at about $158,000. Raymond James Financial Services Advisors Inc. bought a new stake in Minerals Technologies during the 4th quarter worth approximately $214,000. State of Alaska Department of Revenue increased its holdings in Minerals Technologies by 116.3% during the 4th quarter. State of Alaska Department of Revenue now owns 43,822 shares of the basic materials company’s stock worth $3,124,000 after purchasing an additional 23,559 shares in the last quarter. Boston Trust Walden Corp raised its stake in shares of Minerals Technologies by 0.5% in the fourth quarter. Boston Trust Walden Corp now owns 644,055 shares of the basic materials company’s stock worth $45,928,000 after purchasing an additional 3,135 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in shares of Minerals Technologies by 1,266.0% in the fourth quarter. International Assets Investment Management LLC now owns 1,284 shares of the basic materials company’s stock valued at $92,000 after purchasing an additional 1,190 shares in the last quarter. Institutional investors own 97.29% of the company’s stock.

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.