Minerals Technologies Inc. (NYSE:MTX) Short Interest Update
by Danessa Lincoln · The Markets DailyMinerals Technologies Inc. (NYSE:MTX – Get Free Report) was the recipient of a large increase in short interest during the month of February. As of February 13th, there was short interest totaling 433,293 shares, an increase of 29.1% from the January 29th total of 335,681 shares. Currently, 1.4% of the shares of the company are short sold. Based on an average trading volume of 169,296 shares, the short-interest ratio is currently 2.6 days. Based on an average trading volume of 169,296 shares, the short-interest ratio is currently 2.6 days. Currently, 1.4% of the shares of the company are short sold.
Insider Buying and Selling at Minerals Technologies
In related news, insider Dj Monagle III sold 23,093 shares of the stock in a transaction that occurred on Monday, December 29th. The stock was sold at an average price of $61.90, for a total transaction of $1,429,456.70. Following the completion of the sale, the insider owned 84,349 shares in the company, valued at $5,221,203.10. This represents a 21.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.30% of the company’s stock.
Institutional Trading of Minerals Technologies
Institutional investors and hedge funds have recently made changes to their positions in the business. SG Capital Management LLC lifted its stake in shares of Minerals Technologies by 137.1% in the 4th quarter. SG Capital Management LLC now owns 148,385 shares of the basic materials company’s stock valued at $9,044,000 after purchasing an additional 548,385 shares during the period. Brandes Investment Partners LP increased its holdings in Minerals Technologies by 436.3% in the second quarter. Brandes Investment Partners LP now owns 538,073 shares of the basic materials company’s stock valued at $29,632,000 after purchasing an additional 437,734 shares during the last quarter. Broad Bay Capital Management LP acquired a new position in Minerals Technologies in the second quarter valued at about $16,926,000. American Century Companies Inc. boosted its holdings in Minerals Technologies by 20.3% during the second quarter. American Century Companies Inc. now owns 1,284,532 shares of the basic materials company’s stock worth $70,739,000 after buying an additional 216,453 shares during the last quarter. Finally, Caption Management LLC grew its position in shares of Minerals Technologies by 102.7% during the 4th quarter. Caption Management LLC now owns 5,375 shares of the basic materials company’s stock worth $328,000 after buying an additional 205,375 shares during the period. Institutional investors own 97.29% of the company’s stock.
Minerals Technologies Stock Up 1.1%
NYSE MTX opened at $71.70 on Thursday. The stock has a market capitalization of $2.23 billion, a P/E ratio of -140.59 and a beta of 1.24. Minerals Technologies has a 52 week low of $49.54 and a 52 week high of $75.29. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.45 and a current ratio of 2.08. The stock has a fifty day moving average of $68.07 and a 200-day moving average of $63.13.
Minerals Technologies (NYSE:MTX – Get Free Report) last announced its quarterly earnings data on Thursday, January 29th. The basic materials company reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.01). Minerals Technologies had a positive return on equity of 10.22% and a negative net margin of 0.89%.The firm had revenue of $519.50 million during the quarter, compared to analyst estimates of $517.83 million. During the same quarter in the previous year, the business earned $1.28 earnings per share. Minerals Technologies’s revenue for the quarter was up .3% compared to the same quarter last year. On average, equities research analysts forecast that Minerals Technologies will post 6.62 EPS for the current year.
Minerals Technologies Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 13th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, February 13th. Minerals Technologies’s payout ratio is -94.12%.
Wall Street Analysts Forecast Growth
A number of research analysts have recently issued reports on the stock. Zacks Research raised Minerals Technologies from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 14th. Weiss Ratings reissued a “sell (d+)” rating on shares of Minerals Technologies in a research note on Monday, December 22nd. Finally, Truist Financial increased their target price on Minerals Technologies from $84.00 to $89.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $89.00.
View Our Latest Research Report on MTX
About Minerals Technologies
Minerals Technologies Inc develops, produces and processes a broad range of mineral-based products and solutions that serve a variety of industrial applications. Its offerings include bentonite, perlite, precipitated calcium carbonate (PCC), mineral sands, foundry additives, performance minerals and specialty chemicals designed to enhance performance in markets such as paper, steel, construction, oil and gas, environmental remediation and consumer products.
The company operates through several business segments, including Specialty Minerals, Refractory Minerals, Performance Materials and Recycled Materials.