Materion Corp (NYSE:MTRN) – Investment analysts at Jefferies Group cut their FY2018 earnings per share (EPS) estimates for Materion in a research note issued on Tuesday. Jefferies Group analyst M. Englert now forecasts that the basic materials company will post earnings per share of $1.98 for the year, down from their prior forecast of $2.50. Jefferies Group has a “Hold” rating and a $46.00 price target on the stock.
Several other research analysts also recently weighed in on the company. ValuEngine downgraded Materion from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. KeyCorp reaffirmed a “hold” rating on shares of Materion in a research note on Monday, November 13th. Zacks Investment Research downgraded Materion from a “buy” rating to a “hold” rating in a research note on Wednesday, October 11th. Finally, BidaskClub downgraded Materion from a “buy” rating to a “hold” rating in a research note on Friday, October 20th. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $51.00.
Shares of Materion (NYSE:MTRN) traded up $0.10 during mid-day trading on Thursday, hitting $50.85. The stock had a trading volume of 108,700 shares, compared to its average volume of 170,771. The company has a current ratio of 3.42, a quick ratio of 1.48 and a debt-to-equity ratio of 0.01. The firm has a market cap of $1,020.00, a P/E ratio of 39.12 and a beta of 1.09. Materion has a twelve month low of $31.05 and a twelve month high of $52.10.
Materion (NYSE:MTRN) last announced its earnings results on Thursday, October 26th. The basic materials company reported $0.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.10. The business had revenue of $294.27 million during the quarter, compared to the consensus estimate of $290.96 million. Materion had a return on equity of 6.08% and a net margin of 2.48%. The business’s quarterly revenue was up 17.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.46 EPS.
In related news, VP Gregory R. Chemnitz sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $49.60, for a total transaction of $148,800.00. Following the completion of 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Gregory R. Chemnitz sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $50.16, for a total value of $200,640.00. Following the sale, the vice president now owns 13,245 shares of the company’s stock, valued at $664,369.20. The disclosure for this sale can be found here. Insiders have sold 48,470 shares of company stock valued at $2,420,896 over the last quarter. 2.90% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new stake in shares of Materion during the third quarter worth approximately $128,000. Victory Capital Management Inc. increased its position in shares of Materion by 17.7% during the second quarter. Victory Capital Management Inc. now owns 4,458 shares of the basic materials company’s stock worth $167,000 after purchasing an additional 669 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Materion in the 3rd quarter valued at $205,000. PNC Financial Services Group Inc. grew its holdings in Materion by 0.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 5,130 shares of the basic materials company’s stock valued at $193,000 after buying an additional 34 shares in the last quarter. Finally, Crossmark Global Holdings Inc. purchased a new stake in Materion in the 3rd quarter valued at $266,000. Hedge funds and other institutional investors own 89.99% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This story was published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this story on another domain, it was illegally copied and reposted in violation of United States and international copyright and trademark laws. The original version of this story can be accessed at https://www.dispatchtribunal.com/2018/01/11/fy2018-eps-estimates-for-materion-corp-mtrn-reduced-by-jefferies-group.html.
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.
Receive News & Ratings for Materion Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Materion and related companies with MarketBeat.com's FREE daily email newsletter.