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

Minerals Technologies Inc. (NYSE:MTX) was the recipient of a significant growth in short interest in January. As of January 15th, there was short interest totaling 367,932 shares, a growth of 22.5% from the December 31st total of 300,441 shares. Approximately 1.2% of the company’s stock are sold short. Based on an average daily volume of 126,598 shares, the days-to-cover ratio is presently 2.9 days. Based on an average daily volume of 126,598 shares, the days-to-cover ratio is presently 2.9 days. Approximately 1.2% of the company’s stock are sold short.

Minerals Technologies Stock Performance

Shares of MTX opened at $69.09 on Wednesday. The stock has a market capitalization of $2.15 billion, a P/E ratio of -135.46 and a beta of 1.27. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.45 and a current ratio of 2.08. Minerals Technologies has a 1 year low of $49.54 and a 1 year high of $76.96. The company’s fifty day moving average is $63.11 and its two-hundred day moving average is $61.32.

Minerals Technologies (NYSE:MTX) last released its earnings results on Thursday, January 29th. The basic materials company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.01). Minerals Technologies had a positive return on equity of 10.22% and a negative net margin of 0.89%.The firm had revenue of $519.50 million during the quarter, compared to analyst estimates of $517.83 million. During the same quarter last year, the business posted $1.28 EPS. The firm’s revenue was up .3% on a year-over-year basis. On average, sell-side analysts predict that Minerals Technologies will post 6.62 earnings per share for the current year.

Minerals Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 13th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, February 13th. Minerals Technologies’s dividend payout ratio (DPR) is currently -94.12%.

Insider Activity at Minerals Technologies

In other Minerals Technologies news, insider Dj Monagle III sold 23,093 shares of the firm’s stock in a transaction that occurred on Monday, December 29th. The shares were sold at an average price of $61.90, for a total transaction of $1,429,456.70. Following the sale, the insider owned 84,349 shares of the company’s stock, valued at approximately $5,221,203.10. This trade represents a 21.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brett Argirakis sold 6,501 shares of the stock in a transaction on Friday, November 21st. The shares were sold at an average price of $58.68, for a total transaction of $381,478.68. Following the completion of the transaction, the insider directly owned 27,602 shares in the company, valued at $1,619,685.36. This trade represents a 19.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Minerals Technologies in the second quarter valued at approximately $212,000. CSM Advisors LLC acquired a new position in shares of Minerals Technologies during the 2nd quarter worth approximately $4,884,000. American Century Companies Inc. lifted its stake in Minerals Technologies by 20.3% in the 2nd quarter. American Century Companies Inc. now owns 1,284,532 shares of the basic materials company’s stock valued at $70,739,000 after buying an additional 216,453 shares in the last quarter. Inspire Investing LLC lifted its stake in Minerals Technologies by 32.6% in the 2nd quarter. Inspire Investing LLC now owns 8,381 shares of the basic materials company’s stock valued at $462,000 after buying an additional 2,060 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in Minerals Technologies by 44.6% during the 2nd quarter. Blue Trust Inc. now owns 1,011 shares of the basic materials company’s stock valued at $56,000 after buying an additional 312 shares during the last quarter. Institutional investors and hedge funds own 97.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MTX. Truist Financial upped their target price on Minerals Technologies from $84.00 to $89.00 and gave the company a “buy” rating in a research report on Monday. Weiss Ratings reissued a “sell (d+)” rating on shares of Minerals Technologies in a report on Monday, December 22nd. Wall Street Zen cut shares of Minerals Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 18th. Finally, Zacks Research upgraded shares of Minerals Technologies from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 14th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Minerals Technologies has an average rating of “Hold” and an average target price of $89.00.

Minerals Technologies Company Profile

Minerals Technologies Inc develops, produces and processes a broad range of mineral-based products and solutions that serve a variety of industrial applications. Its offerings include bentonite, perlite, precipitated calcium carbonate (PCC), mineral sands, foundry additives, performance minerals and specialty chemicals designed to enhance performance in markets such as paper, steel, construction, oil and gas, environmental remediation and consumer products.

The company operates through several business segments, including Specialty Minerals, Refractory Minerals, Performance Materials and Recycled Materials.