Minerals Technologies Inc (NYSE:MTX) Short Interest Up 49.2% in June

Minerals Technologies Inc (NYSE:MTX) was the recipient of a significant growth in short interest in June. As of June 30th, there was short interest totalling 390,700 shares, a growth of 49.2% from the May 30th total of 261,900 shares. Approximately 1.1% of the company’s stock are sold short. Based on an average daily volume of 128,700 shares, the days-to-cover ratio is presently 3.0 days.

A number of equities analysts recently issued reports on MTX shares. TheStreet downgraded Urban Outfitters from a “b-” rating to a “c+” rating in a report on Thursday, May 30th. JPMorgan Chase & Co. lowered their price target on Whitbread from GBX 5,400 ($70.56) to GBX 5,100 ($66.64) and set an “overweight” rating for the company in a report on Wednesday, May 1st. ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Zacks Investment Research raised DLH from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Gabelli reaffirmed a “buy” rating on shares of Minerals Technologies in a report on Thursday, March 28th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $65.00.

Shares of MTX stock traded up $1.29 during trading hours on Friday, hitting $51.85. The stock had a trading volume of 4,652 shares, compared to its average volume of 161,873. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of 10.71, a PEG ratio of 1.62 and a beta of 1.87. Minerals Technologies has a twelve month low of $47.07 and a twelve month high of $80.80. The stock has a 50 day moving average price of $54.54. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.31 and a quick ratio of 1.66.

Minerals Technologies (NYSE:MTX) last posted its quarterly earnings data on Thursday, May 2nd. The basic materials company reported $1.11 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.11. The business had revenue of $437.70 million during the quarter, compared to the consensus estimate of $447.65 million. Minerals Technologies had a return on equity of 12.52% and a net margin of 9.37%. The company’s revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.12 earnings per share. On average, research analysts expect that Minerals Technologies will post 4.82 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.39%. The ex-dividend date was Wednesday, May 29th. Minerals Technologies’s payout ratio is currently 4.13%.

Hedge funds have recently bought and sold shares of the company. First Trust Advisors LP boosted its stake in Minerals Technologies by 1.6% during the fourth quarter. First Trust Advisors LP now owns 32,000 shares of the basic materials company’s stock worth $1,643,000 after acquiring an additional 493 shares in the last quarter. BlackRock Inc. boosted its stake in Minerals Technologies by 3.8% during the fourth quarter. BlackRock Inc. now owns 4,122,961 shares of the basic materials company’s stock worth $211,673,000 after acquiring an additional 152,414 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Minerals Technologies by 3.4% during the fourth quarter. Bank of New York Mellon Corp now owns 454,170 shares of the basic materials company’s stock worth $23,317,000 after acquiring an additional 14,804 shares in the last quarter. Texas Permanent School Fund boosted its stake in Minerals Technologies by 3.9% during the fourth quarter. Texas Permanent School Fund now owns 23,074 shares of the basic materials company’s stock worth $1,185,000 after acquiring an additional 860 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Minerals Technologies by 18.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,856 shares of the basic materials company’s stock worth $557,000 after acquiring an additional 1,716 shares in the last quarter. 94.06% of the stock is owned by institutional investors and hedge funds.

Minerals Technologies Company Profile

Minerals Technologies Inc develops, produces, and markets various specialty mineral, mineral-based, and synthetic mineral products, and supporting systems and services worldwide. The company's Specialty Minerals segment produces and sells precipitated calcium carbonate and quicklime; and provides natural mineral products comprising limestone and talc.

See Also: Cost of Equity

Receive News & Ratings for Minerals Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Minerals Technologies and related companies with MarketBeat.com's FREE daily email newsletter.