Materion (NYSE:MTRN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The brokerage presently has a $60.00 price target on the basic materials company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 11.01% from the stock’s previous close.
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. “
Other equities analysts also recently issued reports about the stock. ValuEngine raised shares of Materion from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 17th. TheStreet raised shares of Materion from a “c+” rating to a “b” rating in a research note on Thursday, April 26th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Materion presently has an average rating of “Buy” and an average price target of $54.00.
Materion opened at $54.05 on Wednesday, Marketbeat reports. 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 stock has a market capitalization of $1.10 billion, a PE ratio of 31.31 and a beta of 0.99. Materion has a twelve month low of $36.60 and a twelve month high of $57.45.
Materion (NYSE:MTRN) last posted its quarterly earnings results on Thursday, April 26th. The basic materials company reported $0.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.07. The firm had revenue of $303.50 million for the quarter, compared to the consensus estimate of $300.73 million. Materion had a net margin of 1.58% and a return on equity of 7.83%. The company’s revenue for the quarter was up 26.1% on a year-over-year basis. During the same period last year, the firm posted $0.29 earnings per share. research analysts anticipate that Materion will post 2.1 earnings per share for the current year.
In other Materion news, Director Craig S. Shular sold 7,626 shares of Materion stock in a transaction dated Tuesday, May 8th. The shares were sold at an average price of $53.76, for a total transaction of $409,973.76. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Gregory R. Chemnitz sold 5,000 shares of Materion stock in a transaction dated Friday, May 4th. The stock was sold at an average price of $52.02, for a total transaction of $260,100.00. Following the transaction, the vice president now directly owns 12,576 shares in the company, valued at $654,203.52. The disclosure for this sale can be found here. Company insiders own 2.90% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. SG Americas Securities LLC purchased a new stake in shares of Materion in the 1st quarter valued at approximately $174,000. Cubist Systematic Strategies LLC raised its stake in shares of Materion by 40.9% in the 1st quarter. Cubist Systematic Strategies LLC now owns 3,869 shares of the basic materials company’s stock valued at $198,000 after acquiring an additional 1,124 shares during the period. Koch Industries Inc. purchased a new stake in shares of Materion in the 4th quarter valued at approximately $209,000. Xact Kapitalforvaltning AB purchased a new stake in shares of Materion in the 1st quarter valued at approximately $233,000. Finally, Suntrust Banks Inc. purchased a new stake in shares of Materion in the 1st quarter valued at approximately $298,000. 88.75% of the stock is currently owned by institutional investors.
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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