Welcome to our dedicated page for Minerals Technologies news (Ticker: MTX), a resource for investors and traders seeking the latest updates and insights on Minerals Technologies stock.
Minerals Technologies Inc. (MTI) is a leading resource- and technology-based company that develops, produces, and markets a broad range of specialty mineral, mineral-based, and synthetic mineral products, as well as related systems and services worldwide. With its headquarters in New York, MTI operates across five major segments: Specialty Minerals, Refractories, Performance Materials, Construction Technologies, and Energy Services.
The Specialty Minerals segment focuses on products like calcium carbonate, limestone, and talc, which are integral to industries such as paper, building materials, paint, automotive, and pharmaceuticals. The Refractories segment deals with products and services for steel furnaces, offering monolithic refractory materials and specialty technologies. The Performance Materials segment markets bentonite used in steel alloy casting and household products, including cat litter.
MTI is strategically positioned with a diversified portfolio serving various consumer and industrial markets globally. From household and pharmaceutical products to packaging, automotive, construction, and environmental applications, MTI delivers essential solutions that enhance product performance across industries. The company reported global sales of $2.2 billion in 2023, reflecting its robust business model and effective market strategies.
Recently, MTI's subsidiary, Barretts Minerals Inc. (BMI), filed for Chapter 11 bankruptcy to address and resolve liabilities associated with talc. Despite this, MTI continues to operate its core businesses without disruptions. The company also announced a significant increase in its quarterly dividend and a new share repurchase program, reinforcing its commitment to returning value to shareholders.
MTI's financial strength is evident from its consistent performance. For the third quarter of 2023, the company reported record sales and operating income, highlighting its alignment with long-term targets. Furthermore, the first quarter of 2024 saw record operating income, driven by growth in high-margin products and strong operational performance. MTI's proactive approach to market challenges and strategic initiatives underscores its capacity for sustainable growth and profitability.
For more detailed information and the latest updates on MTI, please visit their official website.
Minerals Technologies Inc. (NYSE: MTX) has appointed Erin N. Cutler as Vice President, Human Resources, effective immediately. Cutler succeeds Thomas J. Meek and will report to CEO Douglas T. Dietrich. She has over 10 years of HR experience and has been with MTI since 2015, where she has led various HR initiatives. CEO Dietrich praised her leadership and commitment to the company’s culture. MTI reported sales of $1.8 billion in 2019 and serves multiple industries including paper and construction.
Minerals Technologies Inc. (MTX) announced a diluted EPS of $0.85 for Q2 2020, down from $1.11 in the previous year, with reported EPS at $0.42. Net sales reached $357.2 million, a decline of 23% due to COVID-19 impacts. Operating income was $27.2 million, or 7.6% of sales, with operating income excluding special items at $42 million. The company signed new PCC contracts in the U.S. and India and maintained $64 million in cash flow from operations. Significant charges of $14.6 million after tax were noted.
Minerals Technologies Inc. (NYSE: MTX) has announced a regular quarterly dividend of $0.05 per share, set to be paid on September 3, 2020. Shareholders of record will be those on August 21, 2020. The company reported sales reaching $1.8 billion in 2019, positioning itself as a leader in specialty mineral and synthetic mineral product development across various industries, including paper, foundry, and energy. This dividend declaration highlights the company's ongoing commitment to returning value to its shareholders.
Minerals Technologies Inc. (NYSE: MTX) has announced it will release its second-quarter results for the period ending June 28, 2020, on July 30, 2020, after market close. A conference call to discuss these results is scheduled for July 31, 2020, at 11:00 a.m. Eastern Time, which will be accessible via a webcast on the company's website. Minerals Technologies is a global resource company that reported sales of $1.8 billion in 2019, serving various industries.
Minerals Technologies Inc. (MTX) has announced a private offering of $400 million in 5.000% senior notes due 2028, priced at 100% of the principal amount. The offering, closing on June 30, 2020, is backed by guarantees from the company's subsidiaries. Proceeds will be used to repay outstanding term loans, revolving credit borrowings, and for general corporate purposes. The offering is exempt from registration under the Securities Act, targeting qualified institutional buyers and non-U.S. persons.
Minerals Technologies Inc. (NYSE: MTX) announced a private offering of $400 million in senior notes due 2028. The funds will be used to repay existing fixed-rate term loans, settle outstanding borrowings under its revolving credit facility, and for general corporate purposes. The offering is exempt from the registration requirements of the Securities Act, targeting qualified institutional buyers and non-U.S. persons. There are no assurances that the offering will be completed as planned.
Minerals Technologies (MTX) announced an agreement with Phoenix Paper LLC to establish a satellite precipitated calcium carbonate (PCC) plant in Wickliffe, Kentucky, with a capacity of 35,000 tons per year. The paper mill had been idle for five years before being purchased and restarted by Phoenix Paper, a subsidiary of Shanying International. MTI has supplied PCC from nearby sources since November 2019. The collaboration aims to enhance the quality of paper products by using MTI's PCC technology, which improves brightness, opacity, and bulk while lowering costs.
Minerals Technologies Inc. (MTX) has partnered with Satia Industries Limited to establish a 42,000 metric ton per year satellite precipitated calcium carbonate (PCC) plant at Satia's paper mill in Punjab, India. The plant is expected to commence operations in Q2 2021. This partnership highlights MTX's PCC technology, which enhances the quality of paper while reducing costs. The new facility marks MTX's eighth satellite plant in India, underpinning its ongoing growth in the Asian market. In 2019, MTX reported sales of $1.8 billion, solidifying its position in the specialty mineral market.
Minerals Technologies Inc. (NYSE: MTX) announced a quarterly dividend of $0.05 per share, payable on June 11, 2020, to stockholders of record by May 28, 2020. The company serves various industries, including paper, foundry, and construction, and reported $1.8 billion in sales for 2019. This dividend declaration highlights the company's ongoing commitment to returning value to shareholders while maintaining a robust market presence.
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