Minerals Technologies Inc. (NYSE:MTX) Short Interest Up 22.0% in March

Minerals Technologies Inc. (NYSE:MTX) was the recipient of a significant increase in short interest in March. As of March 15th, there was short interest totalling 420,400 shares, an increase of 22.0% from the February 28th total of 344,500 shares. Approximately 1.3% of the company’s stock are short sold. Based on an average trading volume of 194,700 shares, the days-to-cover ratio is presently 2.2 days.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Smartleaf Asset Management LLC increased 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 increased its position 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 in the last quarter. Blue Trust Inc. raised 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 buying an additional 178 shares during the period. Venturi Wealth Management LLC purchased a new position in shares of Minerals Technologies during the 4th quarter valued at approximately $78,000. Finally, KBC Group NV grew its stake 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 acquiring an additional 451 shares during the period. Institutional investors and hedge funds own 97.29% of the company’s stock.

Minerals Technologies Stock Performance

Shares of MTX traded down $0.52 during mid-day trading on Wednesday, reaching $61.82. The company had a trading volume of 13,862 shares, compared to its average volume of 188,287. The stock has a 50 day moving average of $70.36 and a two-hundred day moving average of $75.02. The company has a quick ratio of 1.98, a current ratio of 2.84 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $1.97 billion, a P/E ratio of 11.93 and a beta of 1.28. Minerals Technologies has a 52-week low of $61.60 and a 52-week high of $90.29.

Minerals Technologies (NYSE:MTX) last issued its quarterly earnings data 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 net margin of 7.89% and a return on equity of 11.49%. On average, analysts expect that Minerals Technologies will post 6.62 earnings per share for the current year.

Minerals Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 14th were issued a $0.11 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.44 dividend on an annualized basis and a yield of 0.71%. Minerals Technologies’s payout ratio is 8.49%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on MTX shares. Truist Financial cut their price objective on Minerals Technologies from $103.00 to $101.00 and set a “buy” rating on the stock in a report on Monday, February 10th. StockNews.com upgraded shares of Minerals Technologies from a “hold” rating to a “buy” rating in a report on Tuesday.

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.