Zacks Investment Research lowered shares of Materion (NYSE:MTRN) from a strong-buy rating to a hold rating in a research note released on Friday, January 12th.
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. “
Several other research firms also recently issued reports on MTRN. KeyCorp reiterated a hold rating on shares of Materion in a research note on Monday, November 13th. ValuEngine downgraded Materion from a buy rating to a hold rating in a research note on Friday, December 1st. Jefferies Group reissued a hold rating and set a $36.00 price objective on shares of Materion in a research report on Thursday, October 12th. Finally, BidaskClub cut Materion from a buy rating to a hold rating in a report on Friday, October 20th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $51.00.
Shares of Materion (MTRN) traded down $1.00 during midday trading on Friday, reaching $48.45. The company’s stock had a trading volume of 167,037 shares, compared to its average volume of 108,330. The company has a quick ratio of 1.48, a current ratio of 3.42 and a debt-to-equity ratio of 0.01. Materion has a 1 year low of $31.05 and a 1 year high of $53.92. The stock has a market capitalization of $991.15, a P/E ratio of 37.27 and a beta of 1.06.
In other Materion news, Director Richard J. Hipple sold 9,713 shares of the stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $50.02, for a total value of $485,844.26. Following the transaction, the director now directly owns 52,591 shares in the company, valued at approximately $2,630,601.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard J. Hipple sold 4,364 shares of the stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $49.64, for a total value of $216,628.96. Following the completion of the transaction, the director now owns 37,760 shares in the company, valued at $1,874,406.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,344 shares of company stock worth $1,778,282. Corporate insiders own 2.90% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. raised its stake in Materion by 0.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 5,130 shares of the basic materials company’s stock worth $193,000 after buying an additional 34 shares during the period. The Manufacturers Life Insurance Company raised its stake in Materion by 0.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,496 shares of the basic materials company’s stock worth $580,000 after buying an additional 58 shares during the period. Victory Capital Management Inc. raised its stake in shares of Materion by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 4,458 shares of the basic materials company’s stock valued at $167,000 after purchasing an additional 669 shares during the period. Wells Fargo & Company MN raised its stake in shares of Materion by 0.8% in the 2nd quarter. Wells Fargo & Company MN now owns 86,859 shares of the basic materials company’s stock valued at $3,248,000 after purchasing an additional 700 shares during the period. Finally, Rhumbline Advisers raised its stake in shares of Materion by 2.4% in the 3rd quarter. Rhumbline Advisers now owns 48,796 shares of the basic materials company’s stock valued at $2,106,000 after purchasing an additional 1,142 shares during the period. 90.86% of the stock is currently owned by institutional investors and hedge funds.
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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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