Ellevest Inc. Acquires 209 Shares of Minerals Technologies Inc. (NYSE:MTX)
Ellevest Inc. boosted its holdings in Minerals Technologies Inc. (NYSE:MTX – Get Rating) by 74.9% in the second quarter, HoldingsChannel reports. The firm owned 488 shares of the basic materials company’s stock after purchasing an additional 209 shares during the period. Ellevest Inc.’s holdings in Minerals Technologies were worth $30,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in MTX. Ethic Inc. acquired a new stake in Minerals Technologies in the first quarter valued at approximately $203,000. Verdence Capital Advisors LLC grew its stake in Minerals Technologies by 6.2% in the first quarter. Verdence Capital Advisors LLC now owns 3,532 shares of the basic materials company’s stock valued at $234,000 after acquiring an additional 207 shares during the period. Inspire Investing LLC acquired a new stake in Minerals Technologies in the first quarter valued at approximately $282,000. Mercer Global Advisors Inc. ADV grew its stake in Minerals Technologies by 60.4% in the first quarter. Mercer Global Advisors Inc. ADV now owns 4,773 shares of the basic materials company’s stock valued at $316,000 after acquiring an additional 1,797 shares during the period. Finally, SG Americas Securities LLC boosted its position in shares of Minerals Technologies by 60.8% during the first quarter. SG Americas Securities LLC now owns 5,417 shares of the basic materials company’s stock valued at $358,000 after buying an additional 2,049 shares during the last quarter. 96.13% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Minerals Technologies
In other Minerals Technologies news, VP Michael Cipolla sold 6,356 shares of the business’s stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $64.27, for a total value of $408,500.12. Following the sale, the vice president now directly owns 32,286 shares in the company, valued at $2,075,021.22. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Dj Monagle III sold 19,673 shares of the business’s stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $63.36, for a total transaction of $1,246,481.28. Following the completion of the transaction, the insider now directly owns 72,402 shares in the company, valued at $4,587,390.72. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Michael Cipolla sold 6,356 shares of the business’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $64.27, for a total value of $408,500.12. Following the transaction, the vice president now owns 32,286 shares of the company’s stock, valued at $2,075,021.22. The disclosure for this sale can be found here. Insiders have sold a total of 54,067 shares of company stock worth $3,404,799 over the last ninety days. 3.20% of the stock is currently owned by company insiders.
Minerals Technologies Stock Down 1.2%
Shares of NYSE:MTX opened at $49.41 on Monday. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of 9.61 and a beta of 1.28. The company has a quick ratio of 1.56, a current ratio of 2.29 and a debt-to-equity ratio of 0.60. Minerals Technologies Inc. has a 12-month low of $49.38 and a 12-month high of $79.03. The business’s 50 day moving average is $60.47 and its 200 day moving average is $62.58.
Minerals Technologies (NYSE:MTX – Get Rating) last issued its quarterly earnings results on Thursday, July 28th. The basic materials company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.04. The business had revenue of $577.00 million for the quarter, compared to analyst estimates of $533.65 million. Minerals Technologies had a return on equity of 11.44% and a net margin of 8.46%. Minerals Technologies’s quarterly revenue was up 26.5% compared to the same quarter last year. During the same period last year, the company posted $1.29 earnings per share. On average, sell-side analysts forecast that Minerals Technologies Inc. will post 5.52 earnings per share for the current fiscal year.
Minerals Technologies Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Friday, August 19th were paid a $0.05 dividend. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $0.20 annualized dividend and a dividend yield of 0.40%. Minerals Technologies’ payout ratio is presently 3.89%.
Analysts Set New Price Targets
Several brokerages recently issued reports on MTX. CL King cut Minerals Technologies from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 30th. StockNews.com cut Minerals Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, June 28th.
Minerals Technologies Profile
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Minerals Technologies Inc develops, produces, and markets various specialty mineral, mineral-based, and synthetic mineral products, and supporting systems and services. The company operates through three segments: Performance Materials, Specialty Minerals and Refractories. The Performance Materials segment supplies bentonite and bentonite-related products, as well as leonardite.
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