Materion Corp. (MTRN) Upgraded to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Materion Corp. (NYSE:MTRN) from a hold rating to a buy rating in a report issued on Wednesday. Zacks Investment Research currently has $34.00 target price on the stock.
According to Zacks, “Materion Corporation, formerly known as Brush Engineered Materials Inc., through its wholly-owned subsidiaries is engaged in the production and supply of high-performance engineered materials in the United States and internationally. Products offered by the Company comprise precious and non-precious specialty metals, inorganic chemicals and powders, specialty coatings, specialty engineered beryllium alloys, beryllium and beryllium composites, and engineered clad and plated metal systems. Materion Corporation is headquartered in Mayfield Heights, Ohio. “
A number of other analysts have also issued reports on MTRN. Jefferies Group reissued a hold rating on shares of Materion Corp. in a research note on Saturday, October 1st. TheStreet raised Materion Corp. from a hold rating to a buy rating in a research note on Thursday, August 18th.
Materion Corp. (NYSE:MTRN) traded up 0.49% during midday trading on Wednesday, reaching $30.68. 24,047 shares of the company were exchanged. The company has a market capitalization of $612.59 million, a price-to-earnings ratio of 24.74 and a beta of 1.35. The company has a 50 day moving average of $29.89 and a 200-day moving average of $26.94. Materion Corp. has a 52-week low of $20.62 and a 52-week high of $35.21.
Materion Corp. (NYSE:MTRN) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. Materion Corp. had a return on equity of 5.55% and a net margin of 2.60%. The firm had revenue of $249.80 million for the quarter, compared to analyst estimates of $235.29 million. During the same period last year, the company earned $0.43 EPS. The firm’s quarterly revenue was down 9.8% on a year-over-year basis. On average, equities research analysts anticipate that Materion Corp. will post $1.34 earnings per share for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Materion Corp. by 4.2% in the second quarter. Vanguard Group Inc. now owns 1,667,333 shares of the company’s stock valued at $41,284,000 after buying an additional 67,394 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Materion Corp. by 9.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,530,370 shares of the company’s stock valued at $37,891,000 after buying an additional 132,892 shares in the last quarter. BlackRock Fund Advisors raised its position in Materion Corp. by 4.0% in the second quarter. BlackRock Fund Advisors now owns 1,309,369 shares of the company’s stock valued at $32,420,000 after buying an additional 50,518 shares in the last quarter. State Street Corp raised its position in Materion Corp. by 28.1% in the second quarter. State Street Corp now owns 1,147,240 shares of the company’s stock valued at $28,403,000 after buying an additional 251,833 shares in the last quarter. Finally, Gamco Investors INC. ET AL raised its position in Materion Corp. by 4.5% in the second quarter. Gamco Investors INC. ET AL now owns 813,900 shares of the company’s stock valued at $20,152,000 after buying an additional 35,200 shares in the last quarter. 90.74% of the stock is currently owned by institutional investors and hedge funds.
About Materion Corp.
Materion Corporation is a holding company. The Company is an integrated producer of engineered materials used in a range of electrical, electronic, thermal and structural applications. The Company’s products are sold in markets, including consumer electronics, industrial components, medical, automotive electronics, energy, telecommunications infrastructure, defense and commercial aerospace.
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