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.

Click here to find out which 9 other dividend bargains you can buy cheaper than insiders, at DividendChannel.com »

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.


Special Offer: Establish a secure stream of income during your retirement years by following the Retiree Income Portfolio with this free 30 day trial
/>/>
 
 

Don't miss ...

 

<a href="/latest_stories/all/all/30" rel="author">Forbes</a>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.

 

blog comments powered by Disqus

Latest stories

US approves first vaccine against dangerous meningitis strain
Washington, Oct 30 (IANS/EFE) The US Food and Drug Administration (FDA) has approved the first vaccine against meningitis B following outbreaks in several college campuses over the past year.
 
 
Novel treatments for autism on horizon
Washington, Oct 30 (IANS) Rare mutations in more than 100 genes affect networks in the brain that result in autism, showed two major genetic studies on the syndrome led by scientists at the University of California.
 
 
Robots to incorporate bird running techniques
New York, Oct 30 (IANS) With an eye toward building better running robots, researchers analysed some of nature's most energy efficient animals - running birds.
 
 
India gets its 'spook' on to celebrate Halloween (Lifestyle Feature/With Images)
New Delhi, Oct 30 (IANS) "Double, double toil and trouble, fire burn and cauldronbubble," said the three witches in William Shakespeare's Macbeth. The day of the dead, better known as Halloween, will be celebrated all across the world Friday and Indian restaurants, cafes and nightclubs are in full swing to get their "spook" on.
 
 
 

Latest from the Network

UEFA rejects Sporting's request for replay of Schalke match
Lisbon, Oct 30 (IANS) Union of European Football Associations (UEFA) has rejected Sporting Clube de Portugal's request for a replay of their Champions League match with Germany's Schalke 04 due to alleged refereeing...
Read more on Sport Balla
 
US approves first vaccine against dangerous meningitis strain
Washington, Oct 30 (IANS/EFE) The US Food and Drug Administration (FDA) has approved the first vaccine against meningitis B following outbreaks in several college campuses over the past year. The vaccine Trumenba, to...
Read more on Business Balla
 
US condemns attack on refugee camp by Syrian military
Washington, Oct 30 (IANS/EFE) The US has condemned an attack by Syrian armed forces on a camp for displaced people in the northeastern region of Idlib in which 10 people died and dozens were injured. The attack was...
Read more on Politics Balla
 
Kenyan marathoner Makau ready to prove critics wrong
Nairobi, Oct 30 (IANS) Former world marathon record holder Patrick Makau will be keen to silence his critics when he lines up at the Fukuoka Marathon in December. "It has been two years of frustrations. I have been in...
Read more on Sport Balla
 
Novel treatments for autism on horizon
Washington, Oct 30 (IANS) Rare mutations in more than 100 genes affect networks in the brain that result in autism, showed two major genetic studies on the syndrome led by scientists at the University of California....
Read more on Business Balla
 
Kenya's Kimetto, Kipsang battle for marathon jackpot
Nairobi, Oct 30 (IANS) Wilson Kipsang and Dennis Kimetto will battle for the $500,000 World Marathon Majors (WMM) jackpot in Sunday's New York Marathon. The two boarded the same flight from here, heading for New York...
Read more on Sport Balla
 
Market Share of iPhone 6 and iPhone 6 Plus Strenghtens Apple’s Position in the Europe
The iPhone 6 and iPhone 6 Plus are continuing to dominate the global market, as a new report reveals that the market share of the devices have been increased from the same time frame of the last year.According to Mac...
Read more on Apple Balla
 
Market Share of iPhone 6 and iPhone 6 Plus Strenghtens Apple’s Position in the Europe
The iPhone 6 and iPhone 6 Plus are continuing to dominate the global market, as a new report reveals that the market share of the devices have been increased from the same time frame of the last year.According to Mac...
Read more on Apple Balla
 
'Form CARICOM panel to solve Windies contract dispute'
Bridgetown (Barbados), Oct 30 (IANS/CMC) Caribbean island St. Vincent's Prime Minister Ralph Gonsalves has advocated the assembling of a three-member Caribbean Community (CARICOM) panel to help resolve the ongoing...
Read more on Sport Balla