BidaskClub upgraded shares of Materion Corp (NYSE:MTRN) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning.
MTRN has been the topic of several other reports. Zacks Investment Research upgraded shares of Materion Corp from a hold rating to a buy rating and set a $43.00 price target on the stock in a research note on Wednesday, September 27th. Jefferies Group LLC restated a hold rating and issued a $36.00 price target on shares of Materion Corp in a research note on Thursday, October 12th.
Materion Corp (MTRN) opened at $49.95 on Tuesday. The company has a quick ratio of 1.48, a current ratio of 3.42 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $1.00 billion, a P/E ratio of 33.52 and a beta of 1.11.
Materion Corp (NYSE:MTRN) last released its quarterly earnings results on Thursday, October 26th. The basic materials company reported $0.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.10. Materion Corp had a net margin of 3.17% and a return on equity of 7.37%. The business had revenue of $294.27 million for the quarter, compared to the consensus estimate of $290.96 million. During the same period in the prior year, the company posted $0.46 earnings per share. Materion Corp’s revenue was up 17.9% compared to the same quarter last year. analysts expect that Materion Corp will post 1.6 earnings per share for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 8th will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, November 7th. This represents a $0.40 dividend on an annualized basis and a yield of 0.80%. Materion Corp’s payout ratio is 30.77%.
In other Materion Corp news, VP Gregory R. Chemnitz sold 3,000 shares of the stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $49.60, for a total transaction of $148,800.00. Following the sale, the vice president now directly owns 13,061 shares in the company, valued at $647,825.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director N Mohan Reddy sold 11,393 shares of the stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $50.11, for a total transaction of $570,903.23. The disclosure for this sale can be found here. Insiders have sold 18,393 shares of company stock worth $920,343 over the last quarter. Corporate insiders own 2.90% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in Materion Corp during the first quarter worth about $115,000. Victory Capital Management Inc. grew its stake in Materion Corp by 50.5% during the first quarter. Victory Capital Management Inc. now owns 3,789 shares of the basic materials company’s stock worth $127,000 after buying an additional 1,271 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Materion Corp by 79.5% in the second quarter. State of Alaska Department of Revenue now owns 3,949 shares of the basic materials company’s stock worth $147,000 after acquiring an additional 1,749 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Materion Corp by 1.9% in the first quarter. PNC Financial Services Group Inc. now owns 5,096 shares of the basic materials company’s stock worth $171,000 after acquiring an additional 96 shares during the last quarter. Finally, United Services Automobile Association bought a new position in shares of Materion Corp in the first quarter worth about $215,000. Hedge funds and other institutional investors own 90.79% of the company’s stock.
About Materion Corp
Materion Corporation, through its subsidiaries, is an integrated producer of engineered materials used in a range of electrical, electronic, thermal, and structural applications. The Company operates in four segments: Performance Alloys and Composites, Advanced Materials, Precision Coatings, and Other.
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