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

Minerals Technologies Inc. (NYSE:MTX) was the target of a significant decline in short interest during the month of 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 daily trading volume, of 152,200 shares, the short-interest ratio is presently 1.9 days. Approximately 0.9% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

MTX has been the subject of several recent research reports. StockNews.com upgraded shares of Minerals Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Truist Financial cut their target price on shares of Minerals Technologies from $103.00 to $101.00 and set a “buy” rating for the company in a research report on Monday.

Minerals Technologies Stock Performance

NYSE MTX traded down $0.42 during trading hours on Friday, hitting $73.35. 12,803 shares of the company’s stock traded hands, compared to its average volume of 153,411. The business’s fifty day moving average price is $76.09 and its two-hundred day moving average price is $76.41. The company has a current ratio of 2.46, a quick ratio of 1.72 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $2.34 billion, a P/E ratio of 14.16 and a beta of 1.30. Minerals Technologies has a 52 week low of $69.43 and a 52 week high of $90.29.

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

Minerals Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be given a $0.11 dividend. The ex-dividend date is Friday, February 14th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.60%. Minerals Technologies’s payout ratio is currently 8.49%.

Hedge Funds Weigh In On Minerals Technologies

A number of hedge funds have recently modified their holdings of the company. FMR LLC boosted its position in shares of Minerals Technologies by 42.7% in the fourth quarter. FMR LLC now owns 1,761,925 shares of the basic materials company’s stock worth $134,276,000 after purchasing an additional 527,206 shares during the period. State Street Corp boosted its position in shares of Minerals Technologies by 2.6% in the third quarter. State Street Corp now owns 1,268,792 shares of the basic materials company’s stock worth $97,989,000 after purchasing an additional 32,196 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Minerals Technologies by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 873,123 shares of the basic materials company’s stock worth $66,554,000 after buying an additional 7,780 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Minerals Technologies by 31.1% in the fourth quarter. American Century Companies Inc. now owns 861,173 shares of the basic materials company’s stock worth $65,630,000 after buying an additional 204,371 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Minerals Technologies by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 555,157 shares of the basic materials company’s stock worth $42,309,000 after buying an additional 2,647 shares in the last quarter. 97.29% of the stock is currently owned by institutional investors.

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.