Minerals Technologies Inc. (NYSE:MTX) Short Interest Update

by · The Cerbat Gem

Minerals Technologies Inc. (NYSE:MTX – Get Free Report) was the recipient of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 496,700 shares, an increase of 18.1% from the March 15th total of 420,400 shares. Based on an average daily volume of 196,200 shares, the short-interest ratio is presently 2.5 days. Currently, 1.6% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

MTX has been the subject of a number of recent research reports. StockNews.com lowered Minerals Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, April 9th. Truist Financial lowered their price objective on Minerals Technologies from $101.00 to $92.00 and set a “buy” rating on the stock in a research report on Monday, April 14th.

Check Out Our Latest Stock Analysis on MTX

Minerals Technologies Price Performance

Shares of Minerals Technologies stock traded down $0.62 during mid-day trading on Monday, reaching $56.09. 215,003 shares of the stock traded hands, compared to its average volume of 172,448. 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 business has a 50-day moving average of $64.68 and a 200 day moving average of $73.17. The stock has a market capitalization of $1.78 billion, a PE ratio of 10.83 and a beta of 1.25. Minerals Technologies has a fifty-two week low of $52.40 and a fifty-two week high of $90.30.

Minerals Technologies (NYSE:MTX – Get Free Report) last posted 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 net margin of 7.89% and a return on equity of 11.49%. On average, analysts predict that Minerals Technologies will post 6.62 EPS for the current year.

Minerals Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 14th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.78%. The ex-dividend date was Friday, February 14th. Minerals Technologies’s payout ratio is currently 8.49%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC raised its stake in Minerals Technologies by 181.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 506 shares of the basic materials company’s stock worth $38,000 after purchasing an additional 326 shares during the period. Quarry LP grew its position in Minerals Technologies by 536.5% in the fourth quarter. Quarry LP now owns 732 shares of the basic materials company’s stock worth $56,000 after acquiring an additional 617 shares during the period. Blue Trust Inc. raised its position in Minerals Technologies by 21.4% in the fourth quarter. Blue Trust Inc. now owns 1,009 shares of the basic materials company’s stock valued at $78,000 after purchasing an additional 178 shares during the period. Venturi Wealth Management LLC acquired a new position in shares of Minerals Technologies in the 4th quarter valued at $78,000. Finally, KBC Group NV increased its position in shares of Minerals Technologies by 43.9% during the 4th quarter. KBC Group NV now owns 1,478 shares of the basic materials company’s stock worth $113,000 after purchasing an additional 451 shares during the last quarter. Hedge funds and other institutional investors own 97.29% of the company’s stock.

About Minerals Technologies

(Get Free Report)

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.

Featured Stories