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

Minerals Technologies Inc. (NYSE:MTXGet Free Report) was the recipient of a significant decrease in short interest in the month of March. As of March 31st, there was short interest totalling 259,600 shares, a decrease of 28.0% from the March 15th total of 360,700 shares. Based on an average trading volume of 153,300 shares, the short-interest ratio is presently 1.7 days. Approximately 0.8% of the shares of the stock are short sold.

Insider Buying and Selling at Minerals Technologies

In other Minerals Technologies news, insider Dj Monagle III sold 1,180 shares of the company’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $74.12, for a total value of $87,461.60. Following the sale, the insider now directly owns 81,031 shares in the company, valued at $6,006,017.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Dj Monagle III sold 1,180 shares of the stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $74.12, for a total transaction of $87,461.60. Following the sale, the insider now owns 81,031 shares in the company, valued at $6,006,017.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jonathan J. Hastings sold 12,922 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $71.48, for a total value of $923,664.56. Following the sale, the senior vice president now owns 53,862 shares in the company, valued at approximately $3,850,055.76. The disclosure for this sale can be found here. Company insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Dark Forest Capital Management LP bought a new stake in Minerals Technologies in the 1st quarter valued at $29,000. Parallel Advisors LLC boosted its stake in Minerals Technologies by 97.9% in the 4th quarter. Parallel Advisors LLC now owns 556 shares of the basic materials company’s stock valued at $40,000 after purchasing an additional 275 shares during the period. Skandinaviska Enskilda Banken AB publ bought a new stake in Minerals Technologies in the 3rd quarter valued at $44,000. Quarry LP bought a new stake in Minerals Technologies in the 2nd quarter valued at $49,000. Finally, Quantbot Technologies LP boosted its stake in Minerals Technologies by 126.1% in the 2nd quarter. Quantbot Technologies LP now owns 997 shares of the basic materials company’s stock valued at $61,000 after purchasing an additional 556 shares during the period. 97.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on MTX shares. StockNews.com upgraded Minerals Technologies from a “hold” rating to a “buy” rating in a report on Thursday, February 8th. Seaport Res Ptn upgraded Minerals Technologies from a “neutral” rating to a “buy” rating in a report on Monday, February 5th. Finally, TheStreet upgraded Minerals Technologies from a “c+” rating to a “b” rating in a report on Friday, February 2nd. Four research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $68.50.

View Our Latest Research Report on Minerals Technologies

Minerals Technologies Stock Down 1.7 %

Minerals Technologies stock traded down $1.23 during midday trading on Friday, reaching $71.19. The stock had a trading volume of 112,043 shares, compared to its average volume of 132,295. The firm’s fifty day simple moving average is $72.54 and its 200-day simple moving average is $65.25. Minerals Technologies has a 1-year low of $48.61 and a 1-year high of $76.80. The stock has a market capitalization of $2.30 billion, a P/E ratio of 27.49 and a beta of 1.33. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.69 and a current ratio of 2.40.

Minerals Technologies (NYSE:MTXGet Free Report) last announced its earnings results on Friday, February 2nd. The basic materials company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.03. Minerals Technologies had a return on equity of 10.26% and a net margin of 3.88%. The business had revenue of $524.50 million for the quarter, compared to analyst estimates of $506.67 million. During the same quarter last year, the firm earned $0.67 EPS. Minerals Technologies’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, analysts expect that Minerals Technologies will post 5.9 EPS for the current fiscal year.

Minerals Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Thursday, February 15th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend was Wednesday, February 14th. Minerals Technologies’s dividend payout ratio (DPR) is 15.44%.

About Minerals Technologies

(Get Free Report)

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.

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