Minerals Technologies Inc. (NYSE:MTX) VP Erin Cutler Sells 225 Shares (2024)

Posted by Defense World Staff on Jun 5th, 2024

Minerals Technologies Inc. (NYSE:MTX – Get Free Report) VP Erin Cutler sold 225 shares of Minerals Technologies stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $86.16, for a total value of $19,386.00. Following the sale, the vice president now owns 3,769 shares of the company’s stock, valued at $324,737.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Minerals Technologies Trading Down 0.9 %

MTX opened at $84.39 on Wednesday. Minerals Technologies Inc. has a 12 month low of $48.61 and a 12 month high of $87.46. The stock has a fifty day moving average price of $77.45 and a 200-day moving average price of $71.63. The firm has a market cap of $2.72 billion, a price-to-earnings ratio of 29.20 and a beta of 1.31. The company has a current ratio of 2.49, a quick ratio of 1.75 and a debt-to-equity ratio of 0.53.

Minerals Technologies (NYSE:MTX – Get Free Report) last announced its earnings results on Thursday, April 25th. The basic materials company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.22. Minerals Technologies had a net margin of 4.35% and a return on equity of 10.87%. The company had revenue of $534.50 million during the quarter, compared to the consensus estimate of $545.55 million. During the same period last year, the firm earned $1.14 earnings per share. Minerals Technologies’s revenue was down 2.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Minerals Technologies Inc. will post 6.29 earnings per share for the current fiscal year.

Minerals Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Friday, May 31st will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Friday, May 31st. Minerals Technologies’s dividend payout ratio is presently 13.84%.

Hedge Funds Weigh In On Minerals Technologies

Several hedge funds have recently made changes to their positions in the company. Jump Financial LLC acquired a new stake in shares of Minerals Technologies in the third quarter worth $867,000. New York State Common Retirement Fund raised its position in shares of Minerals Technologies by 52.7% in the third quarter. New York State Common Retirement Fund now owns 20,558 shares of the basic materials company’s stock valued at $1,126,000 after buying an additional 7,098 shares during the last quarter. Keybank National Association OH raised its holdings in Minerals Technologies by 6.9% in the 3rd quarter. Keybank National Association OH now owns 9,125 shares of the basic materials company’s stock valued at $500,000 after acquiring an additional 585 shares during the last quarter. Swiss National Bank increased its holdings in shares of Minerals Technologies by 1.0% in the third quarter. Swiss National Bank now owns 71,600 shares of the basic materials company’s stock valued at $3,921,000 after purchasing an additional 700 shares during the last quarter. Finally, First Eagle Investment Management LLC purchased a new position in shares of Minerals Technologies during the 3rd quarter worth $2,229,000. 97.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Minerals Technologies from a “hold” rating to a “buy” rating in a report on Thursday, February 8th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $68.50.

Get Our Latest Report on MTX

About Minerals Technologies

(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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