Minerals Technologies Inc (NYSE:MTX) was the recipient of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 371,500 shares, a growth of 8.6% from the September 30th total of 342,100 shares. Currently, 1.1% of the company’s stock are sold short. Based on an average trading volume of 217,400 shares, the short-interest ratio is presently 1.7 days.

In related news, SVP Thomas J. Meek sold 7,502 shares of Minerals Technologies stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $45.90, for a total transaction of $344,341.80. Following the transaction, the senior vice president now owns 65,752 shares of the company’s stock, valued at $3,018,016.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Douglas T. Dietrich bought 1,500 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were bought at an average cost of $47.99 per share, for a total transaction of $71,985.00. Following the transaction, the chief executive officer now owns 71,841 shares of the company’s stock, valued at $3,447,649.59. The disclosure for this purchase can be found here. Company insiders own 2.50% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. lifted its holdings in Minerals Technologies by 7.0% during the second quarter. Victory Capital Management Inc. now owns 1,275,542 shares of the basic materials company’s stock worth $68,254,000 after acquiring an additional 83,476 shares during the period. Macquarie Group Ltd. raised its stake in shares of Minerals Technologies by 7.1% in the second quarter. Macquarie Group Ltd. now owns 1,190,555 shares of the basic materials company’s stock valued at $63,706,000 after buying an additional 79,248 shares during the period. Northern Trust Corp raised its stake in shares of Minerals Technologies by 6.4% in the second quarter. Northern Trust Corp now owns 1,107,178 shares of the basic materials company’s stock valued at $59,245,000 after buying an additional 66,156 shares during the period. Nuveen Asset Management LLC raised its stake in shares of Minerals Technologies by 30.7% in the second quarter. Nuveen Asset Management LLC now owns 799,274 shares of the basic materials company’s stock valued at $42,769,000 after buying an additional 187,964 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Minerals Technologies by 1.1% in the second quarter. Bank of New York Mellon Corp now owns 462,063 shares of the basic materials company’s stock valued at $24,725,000 after buying an additional 5,115 shares during the period. Institutional investors and hedge funds own 94.53% of the company’s stock.

Shares of NYSE:MTX opened at $53.85 on Monday. The business’s 50 day moving average is $52.33 and its 200 day moving average is $53.24. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of 11.13, a PEG ratio of 4.71 and a beta of 1.81. Minerals Technologies has a 12-month low of $45.26 and a 12-month high of $63.75. The company has a quick ratio of 1.62, a current ratio of 2.24 and a debt-to-equity ratio of 0.59.

Minerals Technologies (NYSE:MTX) last issued its quarterly earnings results on Thursday, October 31st. The basic materials company reported $1.06 EPS for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.05. The business had revenue of $449.30 million for the quarter, compared to analyst estimates of $449.43 million. Minerals Technologies had a return on equity of 11.08% and a net margin of 8.16%. Minerals Technologies’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period last year, the company posted $1.27 earnings per share. As a group, equities research analysts expect that Minerals Technologies will post 4.21 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Monday, November 4th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $0.20 dividend on an annualized basis and a yield of 0.37%. Minerals Technologies’s dividend payout ratio (DPR) is currently 4.13%.

Several brokerages recently issued reports on MTX. HSBC reaffirmed a “neutral” rating and set a $253.00 target price on shares of Minerals Technologies in a research report on Monday, October 28th. Hauck & Aufhaeuser reaffirmed a “neutral” rating and set a $242.00 target price on shares of Minerals Technologies in a research report on Monday, October 28th. Berenberg Bank reaffirmed a “neutral” rating and set a $245.00 target price on shares of Minerals Technologies in a research report on Friday, October 25th. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $260.00 target price on shares of Minerals Technologies in a research report on Friday, October 25th. Finally, UBS Group reaffirmed a “neutral” rating and set a $243.00 target price on shares of Minerals Technologies in a research report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $233.67.

About Minerals Technologies

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.

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