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

Minerals Technologies Inc. (NYSE:MTX) saw a large drop in short interest in January. As of January 31st, there was short interest totalling 287,300 shares, a drop of 26.9% from the January 15th total of 393,000 shares. Based on an average trading volume of 152,200 shares, the days-to-cover ratio is currently 1.9 days. Approximately 0.9% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on MTX shares. StockNews.com raised Minerals Technologies from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Truist Financial decreased their price target 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.

Hedge Funds Weigh In On Minerals Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in MTX. Smartleaf Asset Management LLC lifted its stake 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 buying an additional 326 shares during the period. Quarry LP increased its holdings in shares of Minerals Technologies by 536.5% during the fourth quarter. Quarry LP now owns 732 shares of the basic materials company’s stock valued at $56,000 after acquiring an additional 617 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Minerals Technologies by 2,418.2% during the third quarter. Blue Trust Inc. now owns 831 shares of the basic materials company’s stock valued at $69,000 after acquiring an additional 798 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in shares of Minerals Technologies during the fourth quarter valued at approximately $78,000. Finally, KBC Group NV increased its holdings in shares of 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 acquiring an additional 451 shares in the last quarter. 97.29% of the stock is owned by institutional investors and hedge funds.

Minerals Technologies Trading Down 3.2 %

Shares of NYSE:MTX traded down $2.38 during midday trading on Friday, hitting $71.50. 252,697 shares of the stock were exchanged, compared to its average volume of 134,461. The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of 13.80 and a beta of 1.30. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.72 and a current ratio of 2.46. The business’s 50-day moving average price is $75.93 and its 200 day moving average price is $76.35. Minerals Technologies has a 12 month low of $69.43 and a 12 month high of $90.29.

Minerals Technologies (NYSE:MTX) last released its quarterly earnings results on Thursday, February 6th. The basic materials company reported $1.50 earnings per share for the quarter, topping the consensus estimate 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 earnings per share for the current year.

Minerals Technologies Dividend Announcement

The business also recently disclosed 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. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date is Friday, February 14th. Minerals Technologies’s dividend payout ratio is currently 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.