In a recent transaction, Minerals Technologies Inc . (NYSE:MTX) Group President Daniel Joseph Monagle III sold shares of the company's common stock, resulting in a total sale value of approximately $87,458. The sale took place on March 22, 2024, with the shares sold at a weighted average price range between $74.0115 and $74.15 per share.
On the same day, Monagle engaged in a purchase transaction, acquiring $76,888 worth of shares at a price of $65.16 each. Following these transactions, Monagle's direct holdings in Minerals Technologies amounted to 81,031 shares of common stock, with an additional indirect ownership of 584.191 shares held through a 401(k) plan.
The sale and purchase of shares by corporate insiders, such as executives and directors, are closely watched by investors as these transactions can provide insights into the company's performance and the insiders' view of the stock's value. The details of these transactions are disclosed to the public through filings with the Securities and Exchange Commission (SEC), ensuring transparency in the market.
For Minerals Technologies investors, these transactions show active management of Monagle's equity stake in the company. It is worth noting that the transactions on March 22 followed the exercise of employee stock options that were set to expire on April 1, 2024, which Monagle had vested in three equal annual installments beginning on April 1, 2015.
Minerals Technologies Inc. specializes in industrial inorganic chemicals and has a diverse portfolio of products and services catering to various industries. The company's business address is located at 622 Third Avenue, New York, NY.
InvestingPro Insights
As Minerals Technologies Inc. (NYSE:MTX) sees insider transactions, it's important for current and potential investors to consider various financial metrics that provide a broader context. The company's market capitalization stands at $2.42 billion, reflecting its overall market value. Its Price to Earnings (P/E) ratio, a key indicator of valuation, is currently at 28.88. However, when adjusted for the last twelve months as of Q4 2023, the P/E ratio presents a more attractive figure of 14.38, suggesting a potentially undervalued stock relative to its earnings.
InvestingPro Data also indicates a stable revenue growth, with a 2.09% increase over the last twelve months as of Q4 2023, and a quarterly revenue growth of 3.33% for Q1 2023. This steady growth is a positive sign for investors looking for companies with consistent performance. Additionally, Minerals Technologies has displayed a strong gross profit margin of 23.37% over the last twelve months, which is a testament to the company's ability to manage its cost of goods sold effectively.
InvestingPro Tips underscore that Minerals Technologies is expected to see net income growth this year, which aligns with the company's recent financial performance. Furthermore, the company has maintained dividend payments for an impressive 32 consecutive years, indicating a commitment to returning value to shareholders. It's also worth noting that the company has been profitable over the last twelve months and is currently trading near its 52-week high, with a price that's 98.22% of the peak, demonstrating strong market confidence.
For those looking to delve deeper into Minerals Technologies' financials and future prospects, InvestingPro offers additional insights. There are more InvestingPro Tips available, which can be accessed through a subscription, providing a comprehensive analysis for informed investment decisions. Interested readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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