Do Hedge Funds Love Minerals Technologies Inc (MTX)?

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Consequently, key hedge funds were breaking ground themselves. PEAK6 Capital Management, led by Matthew Hulsizer, created the most valuable call position in Minerals Technologies Inc (NYSE:MTX) worth approximately $0.4 million at the end of the quarter. John Overdeck and David Siegel’s Two Sigma Advisors also made a $0.4 million investment in the stock during the quarter. The following funds were also among the new MTX investors: Phil Frohlich’s Prescott Group Capital Management and Matthew Hulsizer’s PEAK6 Capital Management.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Minerals Technologies Inc (NYSE:MTX) but similarly valued. These stocks are Sanmina Corp (NASDAQ:SANM), On Assignment, Inc. (NYSE:ASGN), Novavax, Inc. (NASDAQ:NVAX), and Mine Safety Appliances (NYSE:MSA). This group of stocks’ market caps are similar to MTX’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
SANM 20 102567 -1
ASGN 18 140014 0
NVAX 13 21521 -3
MSA 10 18371 1

As you can see these stocks had an average of 15 hedge funds with bullish positions and the average amount invested in these stocks was $71 million. That figure was $167 million in MTX’s case. Sanmina Corp (NASDAQ:SANM) is the most popular stock in this table. On the other hand Mine Safety Appliances (NYSE:MSA) is the least popular one with only 10 bullish hedge fund positions. Minerals Technologies Inc (NYSE:MTX) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard SANM might be a better candidate to consider taking a long position in.

Disclosure: none.

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