Shares of Materion Corp (NYSE:MTRN) have received an average broker rating score of 3.00 (Hold) from the two brokers that cover the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold rating.
Analysts have set a 12 month consensus price objective of $45.50 for the company and are expecting that the company will post $0.38 EPS for the current quarter, according to Zacks. Zacks has also given Materion an industry rank of 219 out of 265 based on the ratings given to its competitors.
A number of research firms have recently commented on MTRN. Zacks Investment Research upgraded Materion from a “hold” rating to a “strong-buy” rating and set a $56.00 price objective on the stock in a report on Wednesday, December 27th. Jefferies Group reiterated a “hold” rating and issued a $46.00 price objective on shares of Materion in a report on Tuesday, January 9th. KeyCorp reiterated a “hold” rating on shares of Materion in a report on Monday, November 13th. BidaskClub downgraded Materion from a “buy” rating to a “hold” rating in a report on Friday, October 20th. Finally, ValuEngine downgraded Materion from a “buy” rating to a “hold” rating in a report on Friday, December 1st.
In related news, VP Gregory R. Chemnitz sold 3,000 shares of the company’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $49.60, for a total value of $148,800.00. Following the completion of the sale, the vice president now directly owns 13,061 shares of the company’s stock, valued at approximately $647,825.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Richard J. Hipple sold 8,000 shares of the company’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $50.00, for a total value of $400,000.00. Following the completion of the sale, the director now directly owns 57,091 shares of the company’s stock, valued at $2,854,550. The disclosure for this sale can be found here. Over the last three months, insiders sold 53,737 shares of company stock valued at $2,698,625. Insiders own 2.90% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. lifted its position 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 acquiring an additional 34 shares during the period. The Manufacturers Life Insurance Company lifted its position 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 acquiring an additional 58 shares during the period. Victory Capital Management Inc. lifted its position in Materion by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 4,458 shares of the basic materials company’s stock worth $167,000 after acquiring an additional 669 shares during the period. Wells Fargo & Company MN lifted its position in Materion by 0.8% during the 2nd quarter. Wells Fargo & Company MN now owns 86,859 shares of the basic materials company’s stock worth $3,248,000 after acquiring an additional 700 shares during the period. Finally, Rhumbline Advisers lifted its position in Materion by 2.4% during the 3rd quarter. Rhumbline Advisers now owns 48,796 shares of the basic materials company’s stock worth $2,106,000 after acquiring an additional 1,142 shares during the period. 89.99% of the stock is owned by hedge funds and other institutional investors.
Shares of Materion (MTRN) traded up $0.90 during midday trading on Friday, reaching $53.70. The company’s stock had a trading volume of 185,601 shares, compared to its average volume of 107,677. The company has a current ratio of 3.42, a quick ratio of 1.48 and a debt-to-equity ratio of 0.01. Materion has a 12 month low of $31.05 and a 12 month high of $53.92. The stock has a market cap of $1,076.31, a P/E ratio of 41.31 and a beta of 1.09.
Materion (NYSE:MTRN) last issued its quarterly 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. Materion had a return on equity of 6.08% and a net margin of 2.48%. The company had revenue of $294.27 million for the quarter, compared to the consensus estimate of $290.96 million. During the same quarter in the prior year, the business earned $0.46 EPS. Materion’s revenue was up 17.9% on a year-over-year basis. analysts anticipate that Materion will post 1.6 EPS for the current year.
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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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