Minerals Technologies Inc. (NYSE:MTX) Insider Brett Argirakis Sells 2,259 Shares

Minerals Technologies Inc. (NYSE:MTX) insider Brett Argirakis sold 2,259 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $83.95, for a total value of $189,643.05. Following the sale, the insider now owns 23,102 shares in the company, valued at approximately $1,939,412.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Minerals Technologies Stock Performance

MTX opened at $84.43 on Wednesday. Minerals Technologies Inc. has a 52-week low of $48.61 and a 52-week high of $87.46. The firm has a market capitalization of $2.72 billion, a PE ratio of 29.21 and a beta of 1.31. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.75 and a current ratio of 2.49. The business’s 50-day simple moving average is $79.37 and its 200 day simple moving average is $73.18.

Minerals Technologies (NYSE:MTX) last announced its quarterly earnings results on Thursday, April 25th. The basic materials company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.22. The firm had revenue of $534.50 million for the quarter, compared to the consensus estimate of $545.55 million. Minerals Technologies had a return on equity of 10.87% and a net margin of 4.35%. The business’s revenue was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.14 earnings per share. As a group, sell-side analysts expect that Minerals Technologies Inc. will post 6.29 earnings per share for the current fiscal year.

Minerals Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Friday, May 31st were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend was Friday, May 31st. Minerals Technologies’s dividend payout ratio (DPR) is presently 13.84%.

Hedge Funds Weigh In On Minerals Technologies

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Minerals Technologies by 0.7% in the first quarter. Vanguard Group Inc. now owns 3,738,256 shares of the basic materials company’s stock valued at $281,416,000 after purchasing an additional 25,056 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Minerals Technologies by 2.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,267,569 shares of the basic materials company’s stock valued at $161,702,000 after purchasing an additional 49,192 shares during the last quarter. American Century Companies Inc. grew its position in shares of Minerals Technologies by 1.4% in the third quarter. American Century Companies Inc. now owns 1,241,758 shares of the basic materials company’s stock valued at $67,999,000 after purchasing an additional 17,742 shares during the last quarter. Boston Trust Walden Corp grew its position 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 valued at $45,928,000 after purchasing an additional 3,135 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Minerals Technologies by 10.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 514,036 shares of the basic materials company’s stock valued at $38,697,000 after purchasing an additional 48,378 shares during the last quarter. Institutional investors and hedge funds own 97.29% of the company’s stock.

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.