Short Interest in Minerals Technologies Inc. (NYSE:MTX) Rises By 22.0%

Minerals Technologies Inc. (NYSE:MTX - Get Free Report) was the recipient of a large growth in short interest in March. As of March 15th, there was short interest totalling 420,400 shares, a growth of 22.0% from the February 28th total of 344,500 shares. Currently, 1.3% of the shares of the stock are sold short. Based on an average daily volume of 194,700 shares, the days-to-cover ratio is presently 2.2 days.

Minerals Technologies Stock Down 3.1 %

Shares of NYSE:MTX traded down $1.75 during trading on Monday, hitting $54.02. The stock had a trading volume of 89,647 shares, compared to its average volume of 168,507. 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 company has a market capitalization of $1.72 billion, a PE ratio of 10.42 and a beta of 1.25. The firm's fifty day moving average is $69.35 and its 200 day moving average is $74.75. Minerals Technologies has a 12 month low of $52.91 and a 12 month 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 return on equity of 11.49% and a net margin of 7.89%. Analysts anticipate that Minerals Technologies will post 6.62 EPS for the current fiscal year.

Minerals Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 14th were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend was Friday, February 14th. Minerals Technologies's dividend payout ratio (DPR) is 8.49%.

Hedge Funds Weigh In On Minerals Technologies

A number of hedge funds have recently added to or reduced their stakes in MTX. Smartleaf Asset Management LLC raised its holdings in shares of Minerals Technologies by 181.1% during the fourth 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 during the last quarter. Quarry LP grew its stake in shares of Minerals Technologies by 536.5% during the 4th quarter. Quarry LP now owns 732 shares of the basic materials company's stock valued at $56,000 after purchasing an additional 617 shares during the period. Blue Trust Inc. grew 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 valued at $78,000 after purchasing an additional 178 shares during the period. Venturi Wealth Management LLC purchased a new stake in shares of Minerals Technologies during the 4th quarter valued at about $78,000. Finally, KBC Group NV lifted its stake in shares of Minerals Technologies by 43.9% in 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 period. 97.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. StockNews.com upgraded Minerals Technologies from a "hold" rating to a "buy" rating in a research report on Tuesday, April 1st. Truist Financial decreased their target price on shares of Minerals Technologies from $103.00 to $101.00 and set a "buy" rating on the stock in a research note on Monday, February 10th.

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.