Snag This Deal Even Lower Than Director Winter Did

Apr 15 2014, 10:32am CDT | by

There’s an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on March 19, Minerals Technologies, Inc.’s Director, Donald C. Winter, invested $24,008.00 into 400 shares of MTX, for a cost per share of $60.02. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money.

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In trading on Tuesday, bargain hunters could buy shares of Minerals Technologies, Inc. (NYSE: MTX) and achieve a cost basis even cheaper than Winter, with shares changing hands as low as $59.97 per share. Minerals Technologies, Inc. shares are currently trading off about 0.8% on the day. The chart below shows the one year performance of MTX shares, versus its 200 day moving average:

Looking at the chart above, MTX’s low point in its 52 week range is $38.24 per share, with $67.00 as the 52 week high point — that compares with a last trade of $60.29. By comparison, below is a table showing the prices at which insider buying was recorded over the last six months:

Purchased Insider Title Shares Price/Share Value
03/19/2014 Donald C. Winter Director 400 $60.02 $24,008.00

According to the ETF Finder at ETFChannel.com, MTX makes up 1.06% of the PowerShares DWA Basic Materials Momentum Portfolio ETF (AMEX: PYZ) which is trading lower by about 0.1% on the day Tuesday.


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