Materion (MTRN) Cut to Hold at ValuEngine
ValuEngine downgraded shares of Materion (NYSE:MTRN) from a buy rating to a hold rating in a research report report published on Friday.
Other analysts also recently issued research reports about the stock. BidaskClub downgraded shares of Materion from a buy rating to a hold rating in a report on Friday, August 18th. Jefferies Group reiterated a hold rating and issued a $36.00 target price on shares of Materion in a report on Thursday, October 12th. KeyCorp reiterated a hold rating on shares of Materion in a report on Monday, November 13th. Finally, Zacks Investment Research downgraded shares of Materion from a buy rating to a hold rating in a report on Wednesday, October 11th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $39.50.
Materion (NYSE MTRN) traded up $0.05 during trading on Friday, hitting $49.00. 95,400 shares of the company’s stock were exchanged, compared to its average volume of 91,461. Materion has a 12-month low of $31.05 and a 12-month high of $52.10. The company has a market capitalization of $981.13, a price-to-earnings ratio of 32.85 and a beta of 1.07. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.42 and a quick ratio of 1.48.
Materion (NYSE:MTRN) last released its quarterly earnings data on Thursday, October 26th. The basic materials company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.10. The firm had revenue of $294.27 million for the quarter, compared to analyst estimates of $290.96 million. Materion had a net margin of 2.48% and a return on equity of 6.08%. The business’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same period last year, the firm earned $0.46 earnings per share. sell-side analysts forecast that Materion will post 1.6 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Wednesday, November 8th were issued a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, November 7th. This represents a $0.40 annualized dividend and a dividend yield of 0.82%. Materion’s dividend payout ratio is currently 30.77%.
In related news, VP Gregory R. Chemnitz sold 4,000 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $50.16, for a total transaction of $200,640.00. Following the completion of the sale, the vice president now owns 13,245 shares in the company, valued at $664,369.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Gregory R. Chemnitz sold 3,000 shares of the firm’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $49.60, for a total transaction of $148,800.00. Following the sale, the vice president now owns 13,061 shares of the company’s stock, valued at approximately $647,825.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,470 shares of company stock valued at $2,420,896. 2.90% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. UBS Asset Management Americas Inc. purchased a new stake in Materion during the second quarter worth about $280,000. Virginia Retirement Systems ET AL increased its holdings in Materion by 156.3% during the second quarter. Virginia Retirement Systems ET AL now owns 32,800 shares of the basic materials company’s stock worth $1,227,000 after buying an additional 20,000 shares during the last quarter. State Street Corp increased its holdings in Materion by 4.2% during the second quarter. State Street Corp now owns 672,956 shares of the basic materials company’s stock worth $25,167,000 after buying an additional 26,973 shares during the last quarter. Teachers Advisors LLC boosted its position in Materion by 3.3% during the first quarter. Teachers Advisors LLC now owns 39,595 shares of the basic materials company’s stock worth $1,328,000 after purchasing an additional 1,280 shares during the period. Finally, Northern Trust Corp boosted its position in Materion by 3.9% during the second quarter. Northern Trust Corp now owns 926,420 shares of the basic materials company’s stock worth $34,648,000 after purchasing an additional 34,481 shares during the period. Institutional investors and hedge funds own 90.02% of the company’s stock.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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