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

Minerals Technologies Inc. (NYSE:MTX - Get Free Report) was the target of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 344,500 shares, an increase of 21.2% from the February 13th total of 284,300 shares. Based on an average daily volume of 171,600 shares, the short-interest ratio is presently 2.0 days. Approximately 1.1% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. StockNews.com cut Minerals Technologies from a "buy" rating to a "hold" rating in a report on Wednesday. Truist Financial lowered their target price on Minerals Technologies from $103.00 to $101.00 and set a "buy" rating on the stock in a report on Monday, February 10th.

Minerals Technologies Price Performance

Shares of Minerals Technologies stock traded down $2.04 on Friday, hitting $65.13. 1,215,960 shares of the company were exchanged, compared to its average volume of 156,068. Minerals Technologies has a 1-year low of $64.30 and a 1-year high of $90.30. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 12.57 and a beta of 1.28. The company has a 50-day moving average price of $71.92 and a 200 day moving average price of $75.38. The company has a quick ratio of 1.98, a current ratio of 2.84 and a debt-to-equity ratio of 0.54.

Remove Ads

Minerals Technologies (NYSE:MTX - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The basic materials company reported $1.50 EPS for the quarter, beating analysts' consensus estimates of $1.39 by $0.11. Minerals Technologies had a return on equity of 11.49% and a net margin of 7.89%. As a group, sell-side analysts predict that Minerals Technologies will post 6.62 earnings per share for the current fiscal year.

Minerals Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 14th were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date was Friday, February 14th. Minerals Technologies's dividend payout ratio is presently 8.49%.

Institutional Trading of Minerals Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jefferies Financial Group Inc. purchased a new stake in Minerals Technologies in the fourth quarter valued at approximately $3,078,000. Mackenzie Financial Corp purchased a new stake in Minerals Technologies in the fourth quarter valued at approximately $298,000. PharVision Advisers LLC purchased a new stake in shares of Minerals Technologies during the fourth quarter worth $236,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Minerals Technologies by 17.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 100,681 shares of the basic materials company's stock worth $7,673,000 after acquiring an additional 14,820 shares during the period. Finally, Two Sigma Advisers LP increased its position in shares of Minerals Technologies by 6.7% during the fourth quarter. Two Sigma Advisers LP now owns 30,300 shares of the basic materials company's stock worth $2,309,000 after acquiring an additional 1,900 shares during the period. Hedge funds and other 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.