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 (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.
Minerals Technologies Inc. (NYSE: MTX) announced its approach to the Board of Elementis on November 5, 2020, proposing an all-cash offer of 107 pence per share. This offer represents a significant premium of approximately 31% over Elementis’ closing share price on November 4, and 47% over its 90-day volume-weighted average price. Elementis Board rejected the proposal on November 10. MTI is currently evaluating its position and must announce its intentions by December 10, 2020. The potential offer would be entirely in cash, with no certainty of any future proposals.
Minerals Technologies reported third-quarter financial results with net sales of $388.3 million, a 9% sequential increase, yet 14% lower year-over-year. Diluted earnings per share (EPS) were $0.92, down from $1.06 the previous year. Operating income rose to 12.5% of sales, while strong cash flow from operations reached $54.3 million. The company improved financial flexibility by extending debt maturities through a recent private offering. Demand improved across several markets, particularly in consumer-oriented products.
Minerals Technologies Inc. (NYSE: MTX) has announced a new $75 million share repurchase program, replacing the previous $50 million program that expired on October 23, 2020. This initiative reflects the Board of Directors' confidence in the company's robust cash flow and business model. The program allows repurchases in the open market or private transactions subject to market conditions. CEO Douglas T. Dietrich emphasized that this balanced approach to capital deployment will benefit shareholders while supporting strategic growth initiatives.
Minerals Technologies (NYSE: MTX) has declared a quarterly dividend of $0.05 per share on its common stock. This dividend will be payable on December 10, 2020, to stockholders of record by November 2, 2020. In 2019, the company reported $1.8 billion in sales and offers a diverse range of specialty mineral products and services across multiple industries, including paper, steel, and energy. The announcement reflects the company’s continued commitment to returning value to shareholders.
Minerals Technologies Inc. (NYSE: MTX) will report its third-quarter results for the period ending September 27, 2020, on October 29, 2020, after market close. A conference call to discuss these results is scheduled for October 30, 2020, at 11:00 a.m. ET. Interested parties can access the call via the company's website. In 2019, MTI reported sales of $1.8 billion, serving multiple industries including paper, steel, and energy. For further information, visit www.mineralstech.com.
Minerals Technologies Inc. (NYSE: MTX) announced that CEO Douglas Dietrich and CFO Matthew Garth will present at the Sidoti & Company Fall 2020 Investor Conference on September 23, 2020, at 12:15 p.m. ET. The presentation will be available via a live broadcast on the company's Investor Relations page. A replay will also be accessible post-event. In 2019, MTI reported sales of $1.8 billion, highlighting its role as a key player in specialty mineral and related product markets.
Minerals Technologies Inc. (NYSE: MTX) will participate in a virtual fireside chat at CL King’s 18th Annual Best Ideas Conference on September 16, 2020, at 11:45 a.m. Eastern Time. CEO Douglas Dietrich and CFO Matthew Garth will lead the discussion. A live broadcast will be available on the company's website under the Investor Events section, with a replay accessible afterward. In 2019, MTI reported sales of $1.8 billion and serves diverse industries including paper, steel, and construction.
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.
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