Insider Selling: Minerals Technologies Inc. (MTX) VP Sells $260,225.00 in Stock
Minerals Technologies Inc. (NYSE:MTX) VP Michael Cipolla sold 3,500 shares of Minerals Technologies stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $74.35, for a total value of $260,225.00. Following the transaction, the vice president now owns 21,414 shares in the company, valued at $1,592,130.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of Minerals Technologies Inc. (NYSE:MTX) opened at 75.50 on Friday. The stock has a 50 day moving average price of $69.24 and a 200-day moving average price of $64.61. Minerals Technologies Inc. has a one year low of $35.89 and a one year high of $77.95. The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of 23.37 and a beta of 2.00.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 9th. Investors of record on Monday, November 28th will be issued a $0.05 dividend. The ex-dividend date is Wednesday, November 23rd. This represents a $0.20 dividend on an annualized basis and a yield of 0.26%. Minerals Technologies’s payout ratio is 6.19%.
Separately, Zacks Investment Research upgraded Minerals Technologies from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a report on Wednesday, August 10th.
A number of hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP increased its stake in Minerals Technologies by 23.2% in the first quarter. Wellington Management Group LLP now owns 1,319,174 shares of the company’s stock worth $74,995,000 after buying an additional 248,125 shares during the last quarter. Nordea Investment Management AB increased its stake in Minerals Technologies by 235.6% in the second quarter. Nordea Investment Management AB now owns 10,527 shares of the company’s stock worth $598,000 after buying an additional 7,390 shares during the last quarter. Systematic Financial Management LP increased its stake in Minerals Technologies by 83.4% in the second quarter. Systematic Financial Management LP now owns 58,700 shares of the company’s stock worth $3,334,000 after buying an additional 26,695 shares during the last quarter. Mason Street Advisors LLC bought a new stake in Minerals Technologies during the second quarter worth $902,000. Finally, State Street Corp increased its stake in Minerals Technologies by 0.5% in the first quarter. State Street Corp now owns 1,096,521 shares of the company’s stock worth $62,336,000 after buying an additional 5,756 shares during the last quarter. Institutional investors and hedge funds own 94.98% of the company’s stock.
About Minerals Technologies
Minerals Technologies Inc is a resource-and technology-based company that develops, produces and markets worldwide a range of specialty mineral, mineral-based and synthetic mineral products and related systems and services. It has five segments. The Specialty Minerals, Performance Materials, and Construction Technologies segments produce and sell products and technologies based primarily upon the mineral products calcium carbonate, bentonite, talc, chromite and leonardite.
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