Equities analysts forecast that Materion (NYSE:MTRN) will announce $313.85 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Materion’s earnings, with the lowest sales estimate coming in at $310.70 million and the highest estimate coming in at $317.00 million. Materion posted sales of $295.84 million during the same quarter last year, which would indicate a positive year over year growth rate of 6.1%. The business is expected to report its next earnings report on Thursday, July 26th.
On average, analysts expect that Materion will report full year sales of $1.24 billion for the current financial year, with estimates ranging from $1.23 billion to $1.25 billion. For the next year, analysts forecast that the business will post sales of $1.26 billion per share, with estimates ranging from $1.26 billion to $1.27 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Materion.
Materion (NYSE:MTRN) last posted its quarterly earnings results on Thursday, April 26th. The basic materials company reported $0.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.07. The company had revenue of $303.50 million for the quarter, compared to analysts’ expectations of $300.73 million. Materion had a return on equity of 7.83% and a net margin of 1.58%. The firm’s revenue was up 26.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.29 earnings per share.
Several research analysts have issued reports on MTRN shares. TheStreet raised Materion from a “c+” rating to a “b” rating in a report on Thursday, April 26th. Zacks Investment Research raised Materion from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Wednesday, March 14th. ValuEngine raised Materion from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Finally, Jefferies Group set a $48.00 price target on Materion and gave the company a “hold” rating in a report on Thursday, February 15th. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $54.00.
In other news, Director Craig S. Shular sold 7,626 shares of the business’s stock in a transaction on Tuesday, May 8th. The shares were sold at an average price of $53.76, for a total transaction of $409,973.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Gregory R. Chemnitz sold 5,000 shares of the business’s stock in a transaction on Friday, May 4th. The shares were sold at an average price of $52.02, for a total transaction of $260,100.00. Following the transaction, the vice president now owns 12,576 shares in the company, valued at $654,203.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,045 shares of company stock worth $794,483. Corporate insiders own 1.40% of the company’s stock.
Several institutional investors have recently bought and sold shares of MTRN. Millennium Management LLC grew its holdings in shares of Materion by 3,128.9% during 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 in the last quarter. ACK Asset Management LLC grew its holdings in shares of Materion by 142.5% during 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 in the last quarter. BlackRock Inc. grew its holdings in shares of Materion by 4.6% during 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 in the last quarter. WINTON GROUP Ltd purchased a new position in shares of Materion during the 4th quarter valued at $5,490,000. Finally, Wells Fargo & Company MN grew its holdings in shares of Materion by 113.4% during the 1st quarter. Wells Fargo & Company MN now owns 210,069 shares of the basic materials company’s stock valued at $10,724,000 after acquiring an additional 111,624 shares in the last quarter. Institutional investors and hedge funds own 88.79% of the company’s stock.
NYSE MTRN opened at $55.80 on Thursday. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of 32.47 and a beta of 1.00. Materion has a 1 year low of $33.15 and a 1 year high of $57.45. 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 also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Shareholders 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 yield of 0.75%. This is a boost from Materion’s previous quarterly dividend of $0.10. The ex-dividend date is Tuesday, May 15th. Materion’s payout ratio is presently 24.42%.
Materion Company Profile
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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