Minerals Technologies Inc. (NYSE:MTX) Sees Large Growth in Short Interest

Minerals Technologies Inc. (NYSE:MTX - Get Free Report) was the recipient of a significant increase in short interest in 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 days-to-cover ratio is presently 2.5 days. Approximately 1.6% of the company's stock are sold short.

Minerals Technologies Stock Performance

Minerals Technologies stock traded up $1.23 during midday trading on Thursday, reaching $58.78. 284,786 shares of the company's stock were exchanged, compared to its average volume of 173,639. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.98 and a current ratio of 2.84. The stock's 50-day simple moving average is $63.73 and its 200 day simple moving average is $72.81. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of 11.35 and a beta of 1.25. Minerals Technologies has a 52 week low of $52.40 and a 52 week high of $90.30.

Minerals Technologies (NYSE:MTX - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The basic materials company reported $1.14 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.19). 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 fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MTX. Truist Financial cut their price objective on Minerals Technologies from $101.00 to $92.00 and set a "buy" rating for the company in a report on Monday, April 14th. StockNews.com cut shares of Minerals Technologies from a "buy" rating to a "hold" rating in a research note on Wednesday, April 9th.

Institutional Investors Weigh In On Minerals Technologies

A number of institutional investors have recently made changes to their positions in MTX. Barclays PLC lifted its holdings in Minerals Technologies by 210.1% during the 3rd quarter. Barclays PLC now owns 111,526 shares of the basic materials company's stock worth $8,615,000 after purchasing an additional 75,565 shares during the last quarter. Geode Capital Management LLC increased its position in Minerals Technologies by 3.8% during the third quarter. Geode Capital Management LLC now owns 865,343 shares of the basic materials company's stock worth $66,841,000 after acquiring an additional 31,616 shares during the period. Tidal Investments LLC boosted its holdings in Minerals Technologies by 14.6% in the 3rd quarter. Tidal Investments LLC now owns 7,454 shares of the basic materials company's stock valued at $576,000 after purchasing an additional 948 shares during the period. Franklin Resources Inc. grew its position in shares of Minerals Technologies by 21.1% during the 3rd quarter. Franklin Resources Inc. now owns 47,847 shares of the basic materials company's stock worth $3,728,000 after purchasing an additional 8,335 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Minerals Technologies by 2.0% during the third quarter. Principal Financial Group Inc. now owns 162,291 shares of the basic materials company's stock worth $12,534,000 after purchasing an additional 3,230 shares during the period. Institutional investors 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.