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MTX Minerals

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
IRS number
251190717

MTX stock data

(
)

Calendar

30 Jul 21
31 Jul 21
31 Dec 21
Quarter (USD)
Jul 21 Apr 21 Dec 20 Sep 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from Minerals earnings reports.

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
1 Jul 21 Carmola John J Phantom Stock Units Common Stock Grant Aquire A No No 0 84.769 0 16,231.678
1 Jul 21 Clark Robert L Phantom Stock Units Common Stock Grant Aquire A No No 0 44.817 0 22,738.056
1 Jul 21 Deans Alison Ann Phantom Stock Units Common Stock Grant Aquire A No No 0 94.105 0 7,200.404
1 Jul 21 Carolyn K Pittman Phantom Stock Units Common Stock Grant Aquire A No No 0 61.506 0 8,781.84
1 Jul 21 Franklin Feder Phantom Stock Units Common Stock Grant Aquire A No No 0 230.649 0 11,336.631

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

95.9% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 205 207 -1.0%
Opened positions 22 22
Closed positions 24 16 +50.0%
Increased positions 61 70 -12.9%
Reduced positions 90 80 +12.5%
13F shares
Current Prev Q Change
Total value 2.44B 2.05B +18.9%
Total shares 32.34M 33M -2.0%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
BLK Blackrock 4.07M $306.56M +7.2%
Vanguard 3.14M $236.62M +2.5%
TROW T. Rowe Price 2.69M $202.65M -2.3%
Dimensional Fund Advisors 2.15M $161.56M -2.0%
BEN Franklin Resources 2.01M $151.75M +19.0%
MCQEF Macquarie 1.52M $114.82M -6.5%
Victory Capital Management 1.22M $92.15M -10.1%
STT State Street 1.01M $75.71M -1.6%
American Century Companies 850.17K $64.04M +12.1%
Royce & Associates 796.17K $59.97M +9.9%
Largest transactions
Shares Bought/sold Change
Norges Bank 0 -460.3K EXIT
BEN Franklin Resources 2.01M +322.36K +19.0%
NTRS Northern Trust 788.72K -299.57K -27.5%
BLK Blackrock 4.07M +272.91K +7.2%
Arrowstreet Capital, Limited Partnership 0 -174.24K EXIT
Victory Capital Management 1.22M -136.73K -10.1%
JPM JPMorgan Chase & Co. 262.62K -134.86K -33.9%
Eaton Vance Management 785.81K +108.33K +16.0%
MCQEF Macquarie 1.52M -105.38K -6.5%
American Century Companies 850.17K +92K +12.1%

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 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 2021 were $455.6 million, an increase of 28% as compared with $357.2 million in the prior year. Foreign exchange had a favorable impact on sales of approximately $15 million, or 4 percentage points as compared with prior year.  Income from operations was $63.7 million and represented 14.0% of sales, as compared with $27.2 million and 7.6% of sales in the prior year.  Included in income from operations for the second quarter of 2021, were $0.4 million of acquisition-related expenses.  Included in income from operations for the second quarter of 2020 were $6.5 million of restructuring and other items and $8.3 million of litigation expenses associated with the bankruptcy of Novinda Corp. Net income was $41.9 million, as compared to $14.4 million in the second quarter of 2020.  Diluted earnings in the second quarter ended July 4, 2021 were $1.23 per share, as compared with $0.42 per share in the second quarter of 2020.
  • Second quarter 2021 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.  In addition, operational measures we have taken to enhance our margin profile have helped us deliver higher earnings.  The Company has also made progress with our strategic growth initiatives through the commercialization of new value-added products and geographic expansion.
Content analysis
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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
8th grade Avg
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Removed: Enersol, expiration, filtration, NaN, offshore, slightly, temporarily, testing, water