Materion Corporation (MTRN) Downgraded by Zacks Investment Research
Zacks Investment Research lowered shares of Materion Corporation (NYSE:MTRN) from a buy rating to a hold rating in a report released on Thursday morning.
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. “
Separately, Jefferies Group LLC increased their target price on shares of Materion Corporation from $30.00 to $34.00 and gave the stock a hold rating in a research note on Tuesday, February 21st.
Materion Corporation (NYSE MTRN) opened at 36.95 on Thursday. Materion Corporation has a 52 week low of $23.06 and a 52 week high of $41.22. The company has a market capitalization of $738.48 million, a PE ratio of 32.16 and a beta of 1.16. The firm has a 50-day moving average of $35.23 and a 200-day moving average of $36.52.
Materion Corporation (NYSE:MTRN) last issued its earnings results on Friday, April 28th. The basic materials company reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.01. The business had revenue of $240.67 million for the quarter, compared to analyst estimates of $231.58 million. Materion Corporation had a net margin of 2.40% and a return on equity of 5.50%. Materion Corporation’s revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.27 earnings per share. Equities analysts expect that Materion Corporation will post $1.50 earnings per share for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 2nd. Shareholders of record on Wednesday, May 17th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.08%. This is a positive change from Materion Corporation’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Monday, May 15th. Materion Corporation’s dividend payout ratio (DPR) is 34.78%.
In other Materion Corporation news, insider Richard J. Hipple sold 12,000 shares of the firm’s stock in a transaction on Thursday, March 30th. The shares were sold at an average price of $32.11, for a total value of $385,320.00. Following the transaction, the insider now directly owns 121,602 shares of the company’s stock, valued at $3,904,640.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Richard J. Hipple sold 3,000 shares of the firm’s stock in a transaction on Friday, March 24th. The shares were sold at an average price of $32.37, for a total transaction of $97,110.00. Following the completion of the transaction, the insider now directly owns 130,602 shares in the company, valued at $4,227,586.74. The disclosure for this sale can be found here. Insiders sold 73,730 shares of company stock worth $2,523,413 over the last ninety days. Insiders own 2.90% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tudor Investment Corp ET AL acquired a new position in Materion Corporation during the first quarter worth $359,000. AQR Capital Management LLC raised its position in Materion Corporation by 30.0% in the first quarter. AQR Capital Management LLC now owns 206,380 shares of the basic materials company’s stock worth $6,924,000 after buying an additional 47,605 shares during the period. State Street Corp raised its position in Materion Corporation by 1.6% in the first quarter. State Street Corp now owns 645,983 shares of the basic materials company’s stock worth $21,668,000 after buying an additional 10,359 shares during the period. Bank of America Corp DE raised its position in Materion Corporation by 3.6% in the first quarter. Bank of America Corp DE now owns 146,043 shares of the basic materials company’s stock worth $4,900,000 after buying an additional 5,125 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its position in Materion Corporation by 9.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 178,605 shares of the basic materials company’s stock worth $5,993,000 after buying an additional 15,787 shares during the period. 89.98% of the stock is currently owned by hedge funds and other institutional investors.
Materion Corporation Company Profile
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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