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) will announce its first-quarter financial results for the period ending April 4, 2021, on May 6, 2021, after market close. A conference call to discuss these results is scheduled for May 7, 2021, at 11:00 a.m. ET. The call will be available via webcast on MTI's investor relations webpage. In 2020, MTI reported sales of $1.6 billion and operates in industries including paper, construction, and energy.
Minerals Technologies Inc. (NYSE: MTX) announced that CEO Douglas Dietrich and CFO Matthew Garth will present at the Sidoti & Company Spring Virtual Investor Conference on March 24, 2021, at 9:15 a.m. ET. Interested investors can access a live broadcast on the Company’s website under the Investor Events section, with a replay available post-event. Minerals Technologies, headquartered in New York, reported $1.6 billion in sales for 2020, providing specialty mineral products across various industries including paper, steel, and construction.
Minerals Technologies Inc. (MTX) has appointed Douglas T. Dietrich as Chairman of the Board, in addition to his role as CEO, effective immediately. He succeeds Duane R. Dunham, who will retire after the 2023 Annual Meeting. The Board also appointed Robert L. Clark as Lead Independent Director. This change reflects the Board’s confidence in Dietrich's leadership since 2016, aimed at enhancing MTI's governance and operational performance. MTI reported $1.6 billion in sales in 2020, servicing various industries including paper and construction.
Minerals Technologies Inc. (MTX) will present virtually at the G.research Specialty Chemicals Conference on March 11, 2021, at 11:30 a.m. Eastern Time. The presentation will feature Douglas Dietrich, CEO, and Matthew Garth, CFO. A live broadcast will be accessible on the company's website under the Investor Events section, with a replay available afterward. In 2020, MTI reported sales of $1.6 billion and operates in various industries, including paper, steel, and energy.
Minerals Technologies Inc. (NYSE: MTX) reported 2020 earnings of $3.29 per share, with fourth-quarter sales reaching $432 million, an 11% increase sequentially. The company experienced improved demand across major markets, leading to a sequential operating margin increase and strong cash flow from operations of $92 million. Despite a challenging environment, productivity improved by 4%, and cash flow for the year was $241 million. The full-year sales were down 11% compared to the previous year, primarily due to COVID-19 effects, but the company enhanced financial flexibility by extending debt maturities.
Minerals Technologies Inc. (NYSE: MTX) announced a quarterly dividend of $0.05 per share, to be paid on March 11, 2021, for stockholders on record as of February 19, 2021. This underscores the company's commitment to returning value to shareholders amidst its operations in diverse industries, including paper, foundry, and energy. In 2019, MTI reported sales of $1.8 billion. The consistent dividend reflects the company's financial health and operational stability.
Minerals Technologies Inc. (NYSE: MTX) will release its fourth quarter results for 2020 on February 4, 2021, after market close. A conference call is scheduled for February 5, 2021, at 11:00 a.m. ET to discuss these results. The call will be available via webcast on the company's website. In 2019, MTI reported sales of $1.8 billion, developing and marketing specialty mineral products across various industries including paper, steel, and construction.
Minerals Technologies Inc. has announced a price increase on its mineral product portfolio, effective January 1, 2021. The increases, ranging from 3 to 10%, will vary based on individual customer contracts. This adjustment aims to offset rising operational costs and facilitate continued investments in mining and technology. Specific products include ground calcium carbonate, precipitated calcium carbonate, quicklime, and talc, with price hikes varying by product type.
Minerals Technologies Inc. (NYSE: MTX) announced it will not pursue its all-cash offer of 130 pence per share for Elementis, following a rejection by Elementis' Board. MTX believes its proposal was fair based on publicly available information and is disappointed with the Board's stance. The company remains committed to disciplined consolidation opportunities, signaling a strategic approach in its future endeavors.
Minerals Technologies (MTX) announced on November 25, 2020, a second cash offer for Elementis at 117 pence per share, a 9% increase from its previous bid of 107 pence. This new proposal represents a 43% premium compared to Elementis’ closing price on November 4, 2020, and a 61% premium over its 90-day average share price. However, the Elementis Board rejected this revised proposal shortly after it was made. Minerals Technologies aims for a favorable deal for Elementis’ shareholders and must announce its future intentions by December 10, 2020.
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