Welcome to our dedicated page for Minerals Tech news (Ticker: MTX), a resource for investors and traders seeking the latest updates and insights on Minerals Tech stock.
Minerals Technologies Inc. reports developments for a global specialty minerals business that develops, produces, and markets minerals and mineral-based products and services for consumer and industrial markets. The company operates through Consumer & Specialties, including Household & Personal Care and Specialty Additives, and Engineered Solutions, including High-Temperature Technologies and Environmental & Infrastructure.
Recurring MTX news includes quarterly results, conference-call announcements, dividend declarations, investor-conference participation, and capacity updates for paper and packaging satellite plants. Company updates also describe mineral-to-market household products, specialty additives for paper, packaging, food, pharmaceuticals, coatings and construction, and process technologies used in manufacturing, environmental and infrastructure applications.
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.
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.