Materion Corporation (NYSE:MTRN) Stock Has Average Price Target of $273.00 According to Brokerages

Materion Corporation (NYSE:MTRN) has been given an average rating of “Moderate Buy” by the five research firms that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $273.00.

A number of research analysts recently commented on the company. Wall Street Zen upgraded Materion from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. KeyCorp dropped their target price on Materion from $306.00 to $232.00 and set an “overweight” rating on the stock in a research report on Thursday, November 5th. Weiss Ratings cut Materion from a “buy (b-)” rating to a “hold (c)” rating in a research note on Thursday, October 29th. Zacks Research downgraded shares of Materion from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. Finally, Jefferies Financial Group assumed coverage on shares of Materion in a research report on Wednesday, September 2nd. They set a “buy” rating and a $314.00 price target for the company.

Materion Stock Up 4.2%

NYSE:MTRN opened at $209.91 on Thursday. The firm has a market capitalization of $4.38 billion, a PE ratio of 43.01 and a beta of 1.10. The stock has a 50 day moving average of $247.53 and a 200-day moving average of $213.73. Materion has a 52 week low of $110.69 and a 52 week high of $324.98. The company has a current ratio of 2.81, a quick ratio of 1.22 and a debt-to-equity ratio of 0.38.

Materion (NYSE:MTRN) last announced its quarterly earnings results on Wednesday, November 4th. The basic materials company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.04. The business had revenue of $313.66 million for the quarter, compared to analysts’ expectations of $611.38 million. Materion had a return on equity of 14.23% and a net margin of 4.64%. The business’s quarterly revenue was up 27.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.41 EPS. Analysts predict that Materion will post 7.27 EPS for the current year.

Materion Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Thursday, November 19th will be given a $0.1450 dividend. The ex-dividend date is Thursday, November 19th. This represents a $0.58 annualized dividend and a yield of 0.3%. Materion’s dividend payout ratio (DPR) is currently 11.89%.

Insider Transactions at Materion

In other Materion news, Director Emily Liggett sold 1,012 shares of the company’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $232.42, for a total value of $235,209.04. Following the completion of the transaction, the director owned 3,161 shares in the company, valued at approximately $734,679.62. This represents a 24.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Vinod Khilnani sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $235.16, for a total transaction of $470,320.00. Following the completion of the sale, the director owned 11,171 shares in the company, valued at $2,626,972.36. The trade was a 15.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.80% of the company’s stock.

Institutional Trading of Materion

Several large investors have recently added to or reduced their stakes in the business. Harbor Investment Advisory LLC bought a new stake in Materion during the 2nd quarter valued at $32,000. Polaris Financial Partners acquired a new position in shares of Materion during the third quarter valued at $36,000. Root Financial Partners LLC acquired a new position in shares of Materion during the third quarter valued at $38,000. Allworth Financial LP acquired a new position in shares of Materion during the second quarter valued at $52,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in Materion by 22.3% in the first quarter. EverSource Wealth Advisors LLC now owns 395 shares of the basic materials company’s stock worth $57,000 after purchasing an additional 72 shares during the period. 93.56% of the stock is currently owned by institutional investors and hedge funds.

Materion Company Profile

Materion Corporation is a specialty materials company that develops and manufactures advanced engineered materials and related services. Its products include beryllium and beryllium alloys, other engineered metals, and materials used in thin-film deposition and other high-performance applications. The company’s materials serve customers in markets such as semiconductors, aerospace and defense, telecommunications, automotive, consumer electronics, and industrial manufacturing. Materion also provides services including materials processing, recycling, and technical support.