Equities analysts predict that Materion Corp (NYSE:MTRN) will announce $304.15 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Materion’s earnings. The highest sales estimate is $305.30 million and the lowest is $303.00 million. Materion reported sales of $240.67 million in the same quarter last year, which indicates a positive year-over-year growth rate of 26.4%. The company is expected to report its next earnings results on Friday, April 27th.
On average, analysts expect that Materion will report full-year sales of $304.15 million for the current financial year. For the next financial year, analysts anticipate that the company will report sales of $1.27 billion per share, with estimates ranging from $1.25 billion to $1.29 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Materion.
Materion (NYSE:MTRN) last posted its earnings results on Thursday, February 15th. The basic materials company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.13. The company had revenue of $308.67 million during the quarter, compared to analyst estimates of $285.50 million. Materion had a return on equity of 6.95% and a net margin of 1.00%. Materion’s revenue was up 31.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.28 earnings per share.
A number of analysts have weighed in on MTRN shares. ValuEngine lowered Materion from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Zacks Investment Research upgraded Materion from a “hold” rating to a “strong-buy” rating and set a $56.00 target price for the company in a report on Wednesday, December 27th. Jefferies Group restated a “hold” rating and set a $46.00 target price on shares of Materion in a report on Tuesday, January 9th. Finally, TheStreet lowered Materion from a “b” rating to a “c+” rating in a report on Friday, February 16th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $54.00.
In other news, VP Joseph P. Kelley sold 2,419 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $51.43, for a total transaction of $124,409.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Craig S. Shular sold 5,267 shares of the stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $52.73, for a total value of $277,728.91. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,686 shares of company stock valued at $806,938. Company insiders own 2.90% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Millennium Management LLC increased its position in shares of Materion by 3,128.9% in the 4th quarter. Millennium Management LLC now owns 238,581 shares of the basic materials company’s stock valued at $11,595,000 after acquiring an additional 231,192 shares during the period. ACK Asset Management LLC increased its position in shares of Materion by 142.5% in the 4th quarter. ACK Asset Management LLC now owns 310,000 shares of the basic materials company’s stock valued at $15,066,000 after acquiring an additional 182,183 shares during the period. Acadian Asset Management LLC increased its position in shares of Materion by 127.1% in the 4th quarter. Acadian Asset Management LLC now owns 315,510 shares of the basic materials company’s stock valued at $15,335,000 after acquiring an additional 176,602 shares during the period. BlackRock Inc. increased its position in shares of Materion by 4.6% in the 4th quarter. BlackRock Inc. now owns 2,732,251 shares of the basic materials company’s stock valued at $132,788,000 after acquiring an additional 119,764 shares during the period. Finally, WINTON GROUP Ltd acquired a new position in shares of Materion in the 4th quarter valued at $5,490,000. Hedge funds and other institutional investors own 91.96% of the company’s stock.
Shares of Materion (NYSE:MTRN) opened at $54.20 on Friday. The company has a current ratio of 3.23, a quick ratio of 1.50 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $1,072.19, a price-to-earnings ratio of 30.99 and a beta of 1.01. Materion has a twelve month low of $31.05 and a twelve month high of $55.35.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 7th. Stockholders of record on Wednesday, February 21st were issued a dividend of $0.10 per share. The ex-dividend date was Tuesday, February 20th. This represents a $0.40 annualized dividend and a dividend yield of 0.74%. Materion’s dividend payout ratio is presently 71.43%.
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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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