Short Interest in Minerals Technologies Inc. (NYSE:MTX) Drops By 26.9%

Minerals Technologies Inc. (NYSE:MTX) was the recipient of a significant decline in short interest in January. As of January 31st, there was short interest totalling 287,300 shares, a decline of 26.9% from the January 15th total of 393,000 shares. Based on an average trading volume of 152,200 shares, the days-to-cover ratio is presently 1.9 days. Approximately 0.9% of the shares of the stock are short sold.

Minerals Technologies Trading Down 3.2 %

NYSE MTX traded down $2.38 on Friday, hitting $71.50. 252,697 shares of the company were exchanged, compared to its average volume of 134,461. The company’s 50 day moving average price is $75.93 and its 200-day moving average price is $76.34. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.46 and a quick ratio of 1.72. The firm has a market capitalization of $2.28 billion, a P/E ratio of 13.80 and a beta of 1.30. Minerals Technologies has a twelve month low of $69.43 and a twelve month high of $90.29.

Minerals Technologies (NYSE:MTX) last posted its quarterly earnings data on Thursday, February 6th. The basic materials company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.11. Minerals Technologies had a return on equity of 11.61% and a net margin of 7.89%. Analysts predict that Minerals Technologies will post 6.81 earnings per share for the current fiscal year.

Minerals Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.44 annualized dividend and a yield of 0.62%. Minerals Technologies’s payout ratio is presently 8.49%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Truist Financial dropped their price target on shares of Minerals Technologies from $103.00 to $101.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. StockNews.com upgraded shares of Minerals Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th.

Institutional Trading of Minerals Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC grew its stake in Minerals Technologies by 5.3% during the 4th quarter. AQR Capital Management LLC now owns 99,468 shares of the basic materials company’s stock valued at $7,580,000 after acquiring an additional 5,051 shares in the last quarter. Lido Advisors LLC grew its stake in Minerals Technologies by 39.2% during the 4th quarter. Lido Advisors LLC now owns 3,660 shares of the basic materials company’s stock valued at $279,000 after acquiring an additional 1,030 shares in the last quarter. Northern Trust Corp grew its stake in Minerals Technologies by 9.6% during the 4th quarter. Northern Trust Corp now owns 498,929 shares of the basic materials company’s stock valued at $38,023,000 after acquiring an additional 43,546 shares in the last quarter. Quarry LP grew its stake in 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 acquiring an additional 617 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Minerals Technologies during the 4th quarter valued at about $683,000. Institutional investors and hedge funds own 97.29% of the company’s stock.

About Minerals Technologies

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.