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

Minerals Technologies Inc. (NYSE:MTX) saw a large growth in short interest in 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. Based on an average daily volume of 171,600 shares, the days-to-cover ratio is currently 2.0 days. Approximately 1.1% of the company’s stock are short sold.

Minerals Technologies Stock Down 0.6 %

Shares of MTX stock traded down $0.39 on Tuesday, hitting $67.83. The stock had a trading volume of 174,443 shares, compared to its average volume of 151,765. Minerals Technologies has a 12-month low of $65.64 and a 12-month high of $90.30. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of 13.09 and a beta of 1.28. The business has a 50 day moving average of $72.29 and a 200 day moving average of $75.57. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.84 and a quick ratio of 1.98.

Minerals Technologies (NYSE:MTX) last released its earnings results on Thursday, February 6th. The basic materials company reported $1.50 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%. As a group, analysts expect that Minerals Technologies will post 6.62 EPS for the current year.

Minerals Technologies Announces Dividend

The business also recently announced 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. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend was Friday, February 14th. Minerals Technologies’s dividend payout ratio is currently 8.49%.

Institutional Investors Weigh In On Minerals Technologies

Hedge funds have recently modified their holdings of the stock. Smartleaf Asset Management LLC increased its position 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 worth $38,000 after buying an additional 326 shares during the last quarter. Quarry LP grew its stake 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 worth $56,000 after acquiring an additional 617 shares during the period. Blue Trust Inc. increased its holdings in Minerals Technologies by 21.4% in 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 bought a new stake in Minerals Technologies in the 4th quarter valued at about $78,000. Finally, KBC Group NV lifted its holdings in Minerals Technologies by 43.9% during 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. Institutional investors own 97.29% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.