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Minerals (MTX)

New York-based Minerals Technologies Inc. is a global resource- and technology-based company that develops, produces and markets a broad range of specialty mineral, mineral-based and synthetic mineral products and related systems and services. MTI serves the paper, foundry, steel, construction, environmental, energy, polymer and consumer products industries. The company reported sales of $1.6 billion in 2020.

Company profile

Ticker
MTX
Exchange
CEO
Douglas Dietrich
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
Amcol Australia • AMCOL CETCO do Brasil Serviços e Produtos de Construção Ltda. • AMCOL Dongming Industrial Minerals Company Limited • AMCOL Health & Beauty Solutions, Incorporated • AMCOL (Holdings) Ltd. • Amcol International B.V. • AMCOL International Corporation • AMCOL International Holdings Corporation • Amcol International (Thailand) Limited • AMCOL Korea Limited ...
IRS number
251190717

MTX stock data

Calendar

29 Jul 22
16 Aug 22
31 Dec 22
Quarter (USD) Jul 22 Apr 22 Dec 21 Oct 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 234.7M 234.7M 234.7M 234.7M 234.7M 234.7M
Cash burn (monthly) 17.77M 14.08M (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 25.87M 20.49M n/a n/a n/a n/a
Cash remaining 208.83M 214.21M n/a n/a n/a n/a
Runway (months of cash) 11.8 15.2 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
11 Aug 22 Michael Cipolla Common Stock Sell Dispose S No No 64.2747 6,356 408.53K 32,286
11 Aug 22 Michael Cipolla Common Stock Option exercise Acquire M No No 41.29 6,356 262.44K 38,642
11 Aug 22 Michael Cipolla Employee Stock Option Common Stock Option exercise Dispose M No No 41.29 6,356 262.44K 0
1 Jul 22 Carmola John J Phantom Stock Units Common Stock Grant Acquire A No No 0 108.93 0 18,436.191
1 Jul 22 Clark Robert L Phantom Stock Units Common Stock Grant Acquire A No No 0 52.691 0 24,757.91
1 Jul 22 Franklin Feder Phantom Stock Units Common Stock Grant Acquire A No No 0 197.592 0 13,932.686
1 Jul 22 Carolyn K Pittman Phantom Stock Units Common Stock Grant Acquire A No No 0 79.037 0 10,855.417
21.3% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 221 229 -3.5%
Opened positions 18 30 -40.0%
Closed positions 26 14 +85.7%
Increased positions 74 76 -2.6%
Reduced positions 91 85 +7.1%
13F shares Current Prev Q Change
Total value 2.2B 2.44B -9.8%
Total shares 33.06M 33.34M -0.8%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners Shares Value Change
BLK Blackrock 3.73M $246.56M -0.4%
Vanguard 3.24M $214.26M +1.0%
Dimensional Fund Advisors 2.04M $134.91M +1.5%
Franklin Mutual Advisers 1.76M $128.51M 0.0%
MCQEF Macquarie 1.75M $116.08M +4.1%
BEN Franklin Resources 1.72M $113.61M -2.4%
TROW T. Rowe Price 1.71M $113.37M -3.1%
Victory Capital Management 1.31M $86.34M -0.5%
American Century Companies 1.14M $75.66M +12.4%
STT State Street 1.05M $69.71M +3.8%
Largest transactions Shares Bought/sold Change
Norges Bank 0 -334.15K EXIT
Eaton Vance Management 994.96K +174.13K +21.2%
HWC Hancock Whitney 168.63K +168.63K NEW
American Century Companies 1.14M +125.83K +12.4%
JPM JPMorgan Chase & Co. 184.12K -123.6K -40.2%
Foundry Partners 51.7K -106.69K -67.4%
AMP Ameriprise Financial 376.54K +89.41K +31.1%
State Of Wisconsin Investment Board 87.9K +87.9K NEW
Kennedy Capital Management 0 -72.68K EXIT
MCQEF Macquarie 1.75M +68.57K +4.1%

Financial report summary

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Competition
Carbo Ceramics
Risks
  • We have been and expect to continue to be adversely affected by the COVID-19 pandemic.
  • Worldwide general economic, business, and industry conditions may have an adverse effect on the Company’s results.
  • Our customers’ businesses are cyclical or have changing regional demands. Our operations are subject to these trends and we may not be able to mitigate these risks.
  • Our Environmental Products and Building Materials products sales are predominantly derived from the commercial construction and infrastructure markets. In addition, our Processed Minerals and Specialty PCC product lines are affected by the domestic building and construction markets, as well as the automotive market.
  • The Company operates in very competitive industries, which could adversely affect our profitability.
  • The Company’s sales could be adversely affected by consolidation in customer industries, principally paper, foundry and steel.
  • The Company’s sales of PCC could be adversely affected by our failure to renew or extend long term sales contracts for our satellite operations.
  • Servicing the Company’s debt will require a significant amount of cash. This could reduce the Company’s flexibility to respond to changing business and economic conditions or fund capital expenditures or working capital needs. Our ability to generate cash depends on many factors beyond our control.
  • The interest rate of certain of our term loan borrowings is based on LIBOR interest rates, which is subject to change.
  • The agreements and instruments governing our debt contain various covenants that could significantly impact our ability to operate our business.
  • Technology, Development and Growth Risks
  • The Company’s results could be adversely affected if it is unable to effectively achieve and implement its growth initiatives.
  • Delays or failures in new product development could adversely affect the Company’s operations.
  • The Company’s ability to compete is dependent upon its ability to defend its intellectual property against inappropriate disclosure, theft and infringement.
  • The Company’s operations could be impacted by the increased risks of doing business abroad.
  • The Company’s operations are dependent on the availability of raw materials and access to ore reserves at its mining operations. Increases in costs of raw materials, energy, or shipping could adversely affect our financial results.
  • The Company is subject to stringent regulation in the areas of environmental, health and safety, and tax, and may incur unanticipated costs or liabilities arising out of claims for various legal, environmental and tax matters or product stewardship issues.
  • Production facilities are subject to operating risks and capacity limitations that may adversely affect the Company’s financial condition or results of operations.
  • Operating results for some of our segments are seasonal.
  • Our operations have been and will continue to be subject to cyber-attacks that could have a material adverse impact on our business, consolidated results of operations, and consolidated financial condition.
Management Discussion
  • ITEM 2.  Management's Discussion and Analysis of Financial Condition and Results of Operations
  • Our consolidated sales for the second quarter of 2022 were $557.0 million, an increase of 22% as compared with $455.6 million in the prior year. Included in sales for the second quarter of 2022 were $4.1 million in sales related to our acquisition of Concept Pet in the second quarter of 2022 and $29.2 million related to our Normerica acquisition in the third quarter of 2021. Foreign exchange had an unfavorable impact on sales of approximately $21 million, or 5 percentage points as compared with prior year.  Income from operations was $69.4 million and represented 12.5% of sales, as compared with $63.7 million and 14.0% of sales in the prior year.  Included in income from operations for the second quarter of 2022, were $2.6 million of acquisition related transaction and integration costs and $1.5 million in litigation costs. Net income was $44.9 million, as compared to $41.9 million in the second quarter of 2021.  Diluted earnings in the second quarter ended July 3, 2022 were $1.36 per share, as compared with $1.23 per share in the second quarter of 2021.
  • Second quarter 2022 results were strong with sales and operating income growth in each of our segments as demand in many of our end markets continue to improve. The Company continued to deliver on its strategic growth initiatives driven by multi-year advancements in new product development, geographic penetration and growth from acquisitions.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. freshman Good
New words: Concept, country, European, GmbH, Heimtierprodukte, prepaid, softer, stronger