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. (MTX) has declared a quarterly dividend of $0.05 per share on its common stock. This dividend is payable on December 9, 2021, to stockholders who are on record as of November 3, 2021. The company, which reported sales of $1.6 billion in 2020, operates in various industries, including paper, foundry, and construction.
Minerals Technologies Inc. (NYSE: MTX) has announced its third-quarter results release date for the period ending October 3, 2021. The results will be published after market close on November 4, 2021. Following this, the company will host a conference call on November 5, 2021, at 11:00 a.m. ET to discuss the financial outcomes. Investors can access the call via the MTI website.
In 2020, MTI reported sales of $1.6 billion, showcasing its role in providing specialty mineral products across various industries.
Minerals Technologies reported Q2 earnings with diluted EPS of $1.29, up 52% year-over-year and 10% sequentially. Sales reached $456 million, a 28% increase compared to the previous year. The operating margin stood at 14.0%, reflecting strong demand across various sectors. Cash flow from operations rose 25% year-to-date, totaling $118 million.
The company recently acquired Normerica, enhancing its pet care product portfolio, expected to be accretive to EPS in 2021. MTI is positioned among the leading private label pet litter providers.
Minerals Technologies Inc. (MTX) has acquired Normerica Inc., a premium pet care product supplier, enhancing its North American cat litter position. The deal closed on July 26, 2021, and Normerica generated approximately $140 million in revenue in 2020. This acquisition is expected to be accretive to MTX's earnings per share in 2021 and broadens its customer base with strategic manufacturing locations. Normerica’s financials will be included in MTX's Performance Materials segment. Further details will be shared in the earnings call on July 30, 2021.
Minerals Technologies Inc. (NYSE: MTX) has declared a quarterly dividend of $0.05 per share on its common stock, payable on September 9, 2021, to stockholders of record as of August 20, 2021. The company reported sales of $1.6 billion in 2020 and operates across multiple sectors, including paper, construction, and energy. This dividend reflects the company's commitment to returning value to shareholders amidst its broad product offerings and significant market presence.
Minerals Technologies Inc. (NYSE: MTX) will release its second-quarter results for the period ending July 4, 2021, on July 29, 2021, after market close. A conference call to discuss these results is scheduled for July 30, 2021, at 11:00 a.m. Eastern Time. The call will be accessible via webcast on the company's website, where investors can navigate to 'Investor Relations' and 'Quarterly Results & Conference Calls.' The company reported $1.6 billion in sales for 2020, serving various industries including paper, steel, and construction.
Minerals Technologies Inc. (NYSE: MTX) has announced a quarterly dividend of $0.05 per share on its common stock, scheduled for payment on June 17, 2021. Stockholders of record by June 3, 2021 will be eligible to receive the dividend. The company reported sales of $1.6 billion for the year 2020, positioning itself as a leader in specialty mineral products across various industries, including paper and steel.
Minerals Technologies reported strong first quarter results with an EPS of $1.17, marking a record for the quarter. Sales reached $453 million, up 5% sequentially and 8% year-over-year. Operating income was $59 million, reflecting a 2% increase from the prior year. The company signed a new agreement for a 50,000 ton satellite PCC plant in China and generated $51 million in cash flow from operations, a 68% increase from the previous year. The Performance Materials segment was realigned to support growth initiatives.
Minerals Technologies Inc. (NYSE: MTX) has signed an agreement with Zhumadianshi Baiyun Paper Co., LTD to establish a 50,000 metric ton per year precipitated calcium carbonate (PCC) plant at Baiyun Paper's mill in China. This facility, set to begin operations in early 2022, will be wholly owned by MTI and marks its tenth satellite PCC plant in the country. The partnership highlights MTI's growth strategy in Asia and aims to enhance product quality while reducing costs for Baiyun Paper.
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