Short Interest in Minerals Technologies Inc. (NYSE:MTX) Increases By 21.2%

Minerals Technologies Inc. (NYSE:MTX) was the target of a large increase in short interest in February. As of February 28th, there was short interest totalling 344,500 shares, an increase of 21.2% from the February 13th total of 284,300 shares. Based on an average daily trading volume, of 171,600 shares, the short-interest ratio is presently 2.0 days. Approximately 1.1% of the shares of the stock are short sold.

Minerals Technologies Stock Down 0.1 %

Shares of MTX opened at $67.92 on Thursday. The firm has a market capitalization of $2.17 billion, a P/E ratio of 13.11 and a beta of 1.28. Minerals Technologies has a 12-month low of $65.64 and a 12-month high of $90.30. The company has a current ratio of 2.84, a quick ratio of 1.98 and a debt-to-equity ratio of 0.54. The firm has a fifty day moving average price of $72.19 and a 200-day moving average price of $75.52.

Minerals Technologies (NYSE:MTX) last issued its earnings results on Thursday, February 6th. The basic materials company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.11. Minerals Technologies had a return on equity of 11.49% and a net margin of 7.89%. Equities research analysts expect that Minerals Technologies will post 6.62 earnings per share for the current year.

Minerals Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 14th were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date was Friday, February 14th. Minerals Technologies’s dividend payout ratio is presently 8.49%.

Hedge Funds Weigh In On Minerals Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Smartleaf Asset Management LLC increased its position in Minerals Technologies by 181.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 506 shares of the basic materials company’s stock worth $38,000 after buying an additional 326 shares during the period. Quarry LP grew its holdings in Minerals Technologies by 536.5% during the fourth quarter. Quarry LP now owns 732 shares of the basic materials company’s stock worth $56,000 after acquiring an additional 617 shares during the period. Blue Trust Inc. grew its holdings in Minerals Technologies by 21.4% during the fourth quarter. Blue Trust Inc. now owns 1,009 shares of the basic materials company’s stock worth $78,000 after acquiring an additional 178 shares during the period. Venturi Wealth Management LLC acquired a new stake in Minerals Technologies in the fourth quarter valued at $78,000. Finally, KBC Group NV grew its holdings in Minerals Technologies by 43.9% in the fourth quarter. KBC Group NV now owns 1,478 shares of the basic materials company’s stock valued at $113,000 after purchasing an additional 451 shares during the last quarter. Hedge funds and other institutional investors own 97.29% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. StockNews.com cut shares of Minerals Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday. Truist Financial dropped their price objective on shares of Minerals Technologies from $103.00 to $101.00 and set a “buy” rating on the stock in a report on Monday, February 10th.

Minerals Technologies Company Profile

Minerals Technologies Inc develops, produces, and markets various mineral, mineral-based, and related systems and services. The company operates through two segments, Consumer & Specialties, and Engineered Solutions segments. The Consumer & Specialties segment offers household and personal care products, such as pet litter, personal care, fabric care, edible oil and other fluid purification, animal health, and agricultural products; and specialty additives products, including precipitated calcium carbonate and ground calcium carbonate products that are used in the paper, paperboard, and fiber based packaging industries, as well as automotive, construction, and table and food applications.