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

Minerals Technologies Inc. (NYSE:MTX) was the target 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 company’s stock are sold short. Based on an average daily volume of 152,200 shares, the days-to-cover ratio is presently 1.9 days.

Minerals Technologies Stock Down 3.2 %

MTX traded down $2.38 during midday trading on Friday, hitting $71.50. 252,697 shares of the company’s stock traded hands, compared to its average volume of 134,461. Minerals Technologies has a one year low of $69.43 and a one year high of $90.29. The company has a market cap of $2.28 billion, a PE ratio of 13.80 and a beta of 1.30. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.46 and a quick ratio of 1.72. The stock’s fifty day simple moving average is $75.93 and its 200-day simple moving average is $76.35.

Minerals Technologies (NYSE:MTX) last announced its quarterly earnings data on Thursday, February 6th. The basic materials company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.11. Minerals Technologies had a net margin of 7.89% and a return on equity of 11.61%. As a group, equities analysts anticipate that Minerals Technologies will post 6.81 earnings per share for the current fiscal year.

Minerals Technologies Dividend Announcement

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

Analyst Ratings Changes

MTX has been the topic of a number of research analyst reports. Truist Financial reduced their price objective on shares of Minerals Technologies from $103.00 to $101.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. StockNews.com upgraded shares of Minerals Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th.

Institutional Investors Weigh In On Minerals Technologies

Institutional investors and hedge funds have recently made changes to their positions in the company. Smartleaf Asset Management LLC boosted its stake in shares of Minerals Technologies by 181.1% in the 4th 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 in the last quarter. Quarry LP raised its holdings 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 buying an additional 617 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Minerals Technologies by 2,418.2% in the third quarter. Blue Trust Inc. now owns 831 shares of the basic materials company’s stock valued at $69,000 after buying an additional 798 shares during the last quarter. Venturi Wealth Management LLC bought a new position in shares of Minerals Technologies in the fourth quarter valued at about $78,000. Finally, KBC Group NV raised its holdings in shares of 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 buying an additional 451 shares during the last quarter. Institutional investors and hedge funds own 97.29% of the company’s stock.

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.