Short Interest in Minerals Technologies Inc. (NYSE:MTX) Drops By 26.9%

Minerals Technologies Inc. (NYSE:MTX) was the recipient of a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 287,300 shares, a decrease of 26.9% from the January 15th total of 393,000 shares. Currently, 0.9% of the shares of the company are sold short. Based on an average daily volume of 152,200 shares, the days-to-cover ratio is currently 1.9 days.

Minerals Technologies Stock Performance

Shares of MTX stock traded down $2.38 during trading hours on Friday, reaching $71.50. 252,697 shares of the company’s stock were exchanged, compared to its average volume of 134,461. Minerals Technologies has a fifty-two week low of $69.43 and a fifty-two week high of $90.29. The stock has a market capitalization of $2.28 billion, a P/E ratio of 13.80 and a beta of 1.30. The business has a fifty day moving average price of $75.93 and a 200-day moving average price of $76.34. The company has a quick ratio of 1.72, a current ratio of 2.46 and a debt-to-equity ratio of 0.51.

Minerals Technologies (NYSE:MTX) last issued its quarterly 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 11.61% and a net margin of 7.89%. Analysts predict that Minerals Technologies will post 6.81 EPS for the current fiscal year.

Minerals Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be paid a $0.11 dividend. The ex-dividend date is Friday, February 14th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.62%. Minerals Technologies’s payout ratio is 8.49%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. AQR Capital Management LLC raised its stake in shares of Minerals Technologies by 5.3% in the fourth quarter. AQR Capital Management LLC now owns 99,468 shares of the basic materials company’s stock valued at $7,580,000 after purchasing an additional 5,051 shares in the last quarter. Lido Advisors LLC raised its stake in shares of Minerals Technologies by 39.2% in the fourth quarter. Lido Advisors LLC now owns 3,660 shares of the basic materials company’s stock valued at $279,000 after purchasing an additional 1,030 shares in the last quarter. Northern Trust Corp raised its stake in shares of Minerals Technologies by 9.6% in the fourth quarter. Northern Trust Corp now owns 498,929 shares of the basic materials company’s stock valued at $38,023,000 after purchasing an additional 43,546 shares in the last quarter. Quarry LP raised its stake in shares of Minerals Technologies by 536.5% in the fourth quarter. Quarry LP now owns 732 shares of the basic materials company’s stock valued at $56,000 after purchasing an additional 617 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Minerals Technologies in the fourth quarter valued at $683,000. 97.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on MTX shares. Truist Financial decreased their target price on 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 Thursday, February 6th.

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.