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

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on MTX shares. StockNews.com raised Minerals Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, March 11th. Truist Financial cut their target price on Minerals Technologies from $103.00 to $101.00 and set a “buy” rating for the company in a research note on Monday, February 10th.

Minerals Technologies Price Performance

Minerals Technologies stock traded down $0.39 during midday trading on Tuesday, reaching $67.83. 174,443 shares of the stock were exchanged, compared to its average volume of 151,765. Minerals Technologies has a 52 week low of $65.64 and a 52 week high of $90.30. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.98 and a current ratio of 2.84. The firm has a market cap of $2.16 billion, a PE ratio of 13.09 and a beta of 1.28. The company’s fifty day moving average is $72.29 and its 200-day moving average is $75.57.

Minerals Technologies (NYSE:MTX) last issued its quarterly earnings data on Thursday, February 6th. The basic materials company reported $1.50 earnings per share (EPS) for the quarter, topping 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, sell-side analysts forecast that Minerals Technologies will post 6.62 EPS for the current year.

Minerals Technologies Dividend Announcement

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC lifted 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 valued at $38,000 after purchasing an additional 326 shares during the last quarter. Quarry LP raised its position in shares of Minerals Technologies by 536.5% during the 4th quarter. Quarry LP now owns 732 shares of the basic materials company’s stock valued at $56,000 after buying an additional 617 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Minerals Technologies by 21.4% during the 4th 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 last quarter. Venturi Wealth Management LLC purchased a new position in Minerals Technologies in the fourth quarter worth $78,000. Finally, KBC Group NV increased its stake 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 acquiring an additional 451 shares during the last quarter. 97.29% of the stock is currently owned by institutional investors.

About Minerals Technologies

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.