Materion (MTRN) Hits New 52-Week High and Low at $56.45

Materion (NYSE:MTRN) shares reached a new 52-week high and low on Wednesday . The company traded as low as $56.45 and last traded at $56.40, with a volume of 705 shares. The stock had previously closed at $56.00.

A number of research analysts have weighed in on MTRN shares. TheStreet raised shares of Materion from a “c+” rating to a “b” rating in a research note on Thursday, April 26th. Zacks Investment Research raised shares of Materion from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research note on Wednesday, March 14th. ValuEngine raised shares of Materion from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Finally, Jefferies Group set a $48.00 target price on shares of Materion and gave the stock a “hold” rating in a research note on Thursday, February 15th. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $54.00.

The company has a current ratio of 3.48, a quick ratio of 1.58 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 32.70 and a beta of 1.00.

Materion (NYSE:MTRN) last released its earnings results on Thursday, April 26th. The basic materials company reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.07. Materion had a net margin of 1.58% and a return on equity of 7.83%. The business had revenue of $303.50 million for the quarter, compared to analyst estimates of $300.73 million. During the same period last year, the company posted $0.29 EPS. The business’s revenue was up 26.1% on a year-over-year basis. analysts anticipate that Materion will post 2.1 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Wednesday, May 16th will be given a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a dividend yield of 0.75%. The ex-dividend date is Tuesday, May 15th. This is a positive change from Materion’s previous quarterly dividend of $0.10. Materion’s payout ratio is presently 24.42%.

In other news, VP Joseph P. Kelley sold 2,419 shares of Materion stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $51.43, for a total transaction of $124,409.17. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Joseph P. Keithley sold 8,000 shares of Materion stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $50.60, for a total transaction of $404,800.00. Following the sale, the director now directly owns 11,757 shares in the company, valued at approximately $594,904.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,045 shares of company stock worth $1,199,283. Corporate insiders own 2.90% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC raised its position in shares of Materion by 40.9% during the 1st quarter. Cubist Systematic Strategies LLC now owns 3,869 shares of the basic materials company’s stock valued at $198,000 after buying an additional 1,124 shares during the period. Systematic Financial Management LP raised its position in shares of Materion by 3.9% during the 4th quarter. Systematic Financial Management LP now owns 30,800 shares of the basic materials company’s stock valued at $1,497,000 after buying an additional 1,165 shares during the period. California Public Employees Retirement System raised its position in shares of Materion by 4.0% during the 1st quarter. California Public Employees Retirement System now owns 40,319 shares of the basic materials company’s stock valued at $2,058,000 after buying an additional 1,549 shares during the period. Uniplan Investment Counsel Inc. raised its position in shares of Materion by 1.8% during the 1st quarter. Uniplan Investment Counsel Inc. now owns 181,238 shares of the basic materials company’s stock valued at $9,252,000 after buying an additional 3,214 shares during the period. Finally, Northern Trust Corp raised its position in shares of Materion by 0.4% during the 1st quarter. Northern Trust Corp now owns 882,390 shares of the basic materials company’s stock valued at $45,045,000 after buying an additional 3,355 shares during the period. 93.73% of the stock is currently owned by hedge funds and other institutional investors.

About Materion

Materion Corporation manufactures and sells advanced engineered materials used in consumer electronics, industrial components, defense, medical, automotive electronics, telecommunications infrastructure, energy, commercial aerospace, science, services, and appliance markets worldwide. The company operates through Performance Alloys and Composites, Advanced Materials, and Precision Coatings segments.

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