Minerals Technologies Inc. (NYSE:MTX) Director Rocky Motwani Acquires 370 Shares

Minerals Technologies Inc. (NYSE:MTX - Get Free Report) Director Rocky Motwani bought 370 shares of the stock in a transaction dated Monday, June 16th. The stock was bought at an average cost of $54.31 per share, for a total transaction of $20,094.70. Following the acquisition, the director now directly owns 1,192 shares of the company's stock, valued at approximately $64,737.52. This represents a 45.01% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Minerals Technologies Trading Down 1.1%

MTX stock traded down $0.61 during midday trading on Friday, reaching $53.19. 635,675 shares of the company traded hands, compared to its average volume of 192,686. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of -69.07 and a beta of 1.22. The business has a 50 day moving average of $56.33 and a 200-day moving average of $66.12. Minerals Technologies Inc. has a 52-week low of $49.54 and a 52-week high of $90.30. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.31 and a current ratio of 1.89.

Minerals Technologies (NYSE:MTX - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The basic materials company reported $1.14 earnings per share for the quarter, missing analysts' consensus estimates of $1.16 by ($0.02). The firm had revenue of $491.80 million for the quarter, compared to the consensus estimate of $502.03 million. Minerals Technologies had a negative net margin of 1.14% and a positive return on equity of 10.90%. The company's revenue was down 8.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.49 EPS. As a group, sell-side analysts expect that Minerals Technologies Inc. will post 6.62 earnings per share for the current fiscal year.

Minerals Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 30th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend was Friday, May 30th. Minerals Technologies's payout ratio is currently -57.14%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MTX. Wall Street Zen cut Minerals Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, April 9th. Truist Financial cut their price target on Minerals Technologies from $92.00 to $80.00 and set a "buy" rating for the company in a report on Monday, April 28th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Smartleaf Asset Management LLC raised its holdings in shares of Minerals Technologies by 181.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 506 shares of the basic materials company's stock worth $38,000 after buying an additional 326 shares during the period. Quarry LP increased its stake in Minerals Technologies by 536.5% in the fourth quarter. Quarry LP now owns 732 shares of the basic materials company's stock worth $56,000 after purchasing an additional 617 shares during the period. Venturi Wealth Management LLC purchased a new stake in Minerals Technologies in the fourth quarter worth $78,000. Strs Ohio bought a new stake in shares of Minerals Technologies during the first quarter worth $70,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Minerals Technologies during the first quarter valued at $124,000. Hedge funds and other 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.