Short Interest in Minerals Technologies Inc. (NYSE:MTX) Rises By 22.0%

Minerals Technologies Inc. (NYSE:MTX) was the recipient of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 420,400 shares, a growth of 22.0% from the February 28th total of 344,500 shares. Based on an average trading volume of 194,700 shares, the days-to-cover ratio is currently 2.2 days. Approximately 1.3% of the company’s shares are sold short.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MTX. Intech Investment Management LLC purchased a new position in Minerals Technologies during the third quarter valued at approximately $441,000. FMR LLC raised its stake in shares of Minerals Technologies by 64.2% during the 3rd quarter. FMR LLC now owns 1,234,719 shares of the basic materials company’s stock worth $95,357,000 after acquiring an additional 482,674 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Minerals Technologies during the third quarter valued at approximately $656,000. BNP Paribas Financial Markets boosted its stake in Minerals Technologies by 11.3% in the third quarter. BNP Paribas Financial Markets now owns 44,060 shares of the basic materials company’s stock valued at $3,403,000 after acquiring an additional 4,479 shares in the last quarter. Finally, Verition Fund Management LLC grew its holdings in Minerals Technologies by 161.2% in the third quarter. Verition Fund Management LLC now owns 10,332 shares of the basic materials company’s stock worth $798,000 after purchasing an additional 6,377 shares during the last quarter. Hedge funds and other institutional investors own 97.29% of the company’s stock.

Minerals Technologies Trading Down 0.8 %

Shares of NYSE:MTX traded down $0.52 during trading on Wednesday, reaching $61.82. 13,862 shares of the company were exchanged, compared to its average volume of 188,287. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.84 and a quick ratio of 1.98. The firm has a market capitalization of $1.97 billion, a PE ratio of 11.93 and a beta of 1.28. The business’s fifty day simple moving average is $70.36 and its 200-day simple moving average is $75.02. Minerals Technologies has a 12-month low of $61.60 and a 12-month high of $90.29.

Minerals Technologies (NYSE:MTX) last issued its earnings results on Thursday, February 6th. The basic materials company reported $1.50 earnings per share 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%. On average, research analysts anticipate that Minerals Technologies will post 6.62 EPS for the current year.

Minerals Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 14th were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.71%. The ex-dividend date was Friday, February 14th. Minerals Technologies’s payout ratio is 8.49%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on MTX shares. Truist Financial cut their price target 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. StockNews.com raised Minerals Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday.

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.