Short Interest in Minerals Technologies Inc. (NYSE:MTX) Declines By 20.0%

Minerals Technologies Inc. (NYSE:MTX) was the target of a significant decline in short interest during the month of July. As of July 31st, there was short interest totalling 324,700 shares, a decline of 20.0% from the July 15th total of 405,800 shares. Based on an average trading volume of 183,400 shares, the days-to-cover ratio is currently 1.8 days. Approximately 1.0% of the company’s stock are sold short.

Insider Activity at Minerals Technologies

In related news, insider Dj Monagle III sold 14,229 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $83.63, for a total transaction of $1,189,971.27. Following the completion of the transaction, the insider now directly owns 79,731 shares of the company’s stock, valued at $6,667,903.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Michael Cipolla sold 11,958 shares of Minerals Technologies stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $84.36, for a total value of $1,008,776.88. Following the completion of the transaction, the vice president now owns 35,864 shares of the company’s stock, valued at approximately $3,025,487.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Dj Monagle III sold 14,229 shares of Minerals Technologies stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $83.63, for a total value of $1,189,971.27. Following the transaction, the insider now owns 79,731 shares of the company’s stock, valued at approximately $6,667,903.53. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 57,459 shares of company stock valued at $4,842,108. 3.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Quarry LP increased its holdings in shares of Minerals Technologies by 1,857.4% during the second quarter. Quarry LP now owns 920 shares of the basic materials company’s stock worth $77,000 after buying an additional 873 shares in the last quarter. Algert Global LLC raised its holdings in Minerals Technologies by 131.8% in the 2nd quarter. Algert Global LLC now owns 40,956 shares of the basic materials company’s stock valued at $3,406,000 after buying an additional 23,286 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in Minerals Technologies during the 2nd quarter worth approximately $306,000. The Manufacturers Life Insurance Company grew its holdings in Minerals Technologies by 3.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,522 shares of the basic materials company’s stock worth $1,457,000 after acquiring an additional 526 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in Minerals Technologies by 53.7% in the 2nd quarter. AQR Capital Management LLC now owns 85,355 shares of the basic materials company’s stock valued at $7,070,000 after acquiring an additional 29,818 shares during the period. Institutional investors and hedge funds own 97.29% of the company’s stock.

Minerals Technologies Stock Performance

Shares of NYSE MTX traded up $0.02 during trading hours on Friday, reaching $74.12. 88,321 shares of the stock were exchanged, compared to its average volume of 167,531. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of 25.65 and a beta of 1.32. The stock’s fifty day simple moving average is $80.87 and its 200 day simple moving average is $77.11. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.72 and a current ratio of 2.46. Minerals Technologies has a 52 week low of $48.61 and a 52 week high of $90.29.

Minerals Technologies (NYSE:MTX) last announced its earnings results on Thursday, July 25th. The basic materials company reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.05. Minerals Technologies had a net margin of 4.05% and a return on equity of 11.46%. The firm had revenue of $541.20 million for the quarter, compared to analyst estimates of $561.60 million. During the same quarter in the prior year, the business posted $1.31 EPS. The business’s revenue was down 1.9% compared to the same quarter last year. Sell-side analysts predict that Minerals Technologies will post 6.22 EPS for the current year.

Minerals Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Friday, August 16th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date is Friday, August 16th. Minerals Technologies’s dividend payout ratio is presently 13.84%.

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.