Minerals Technologies Inc. (NYSE:MTX) Short Interest Update

Minerals Technologies Inc. (NYSE:MTX) was the recipient of a large growth in short interest in 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. Approximately 1.3% of the shares of the stock are short sold. Based on an average trading volume of 194,700 shares, the short-interest ratio is currently 2.2 days.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Minerals Technologies

Several hedge funds have recently bought and sold shares of the company. Smartleaf Asset Management LLC grew its holdings in Minerals Technologies by 181.1% in 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 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 last quarter. Blue Trust Inc. increased its stake 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 purchasing an additional 178 shares in the last quarter. Venturi Wealth Management LLC purchased a new stake in Minerals Technologies during the 4th quarter worth about $78,000. Finally, KBC Group NV lifted its holdings in Minerals Technologies by 43.9% in the 4th 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 in the last quarter. 97.29% of the stock is owned by hedge funds and other institutional investors.

Minerals Technologies Stock Down 5.7 %

NYSE MTX traded down $3.57 on Thursday, hitting $59.49. 56,478 shares of the stock were exchanged, compared to its average volume of 167,402. The company has a market cap of $1.90 billion, a PE ratio of 11.48 and a beta of 1.28. The company has a 50-day moving average price of $70.10 and a 200-day moving average price of $74.94. Minerals Technologies has a fifty-two week low of $57.12 and a fifty-two week high of $90.30. The company has a quick ratio of 1.98, a current ratio of 2.84 and a debt-to-equity ratio of 0.54.

Minerals Technologies (NYSE:MTX) last announced its quarterly 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 net margin of 7.89% and a return on equity of 11.49%. Sell-side analysts anticipate that Minerals Technologies will post 6.62 EPS for the current fiscal year.

Minerals Technologies Announces Dividend

The business 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 0.74%. Minerals Technologies’s payout ratio is 8.49%.

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.