Materion Corp (NYSE:MTRN) VP Gregory R. Chemnitz sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $57.50, for a total transaction of $230,000.00. Following the completion of the transaction, the vice president now owns 8,523 shares in the company, valued at $490,072.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Materion stock traded up $0.45 during mid-day trading on Friday, reaching $58.28. 208 shares of the company’s stock were exchanged, compared to its average volume of 103,779. The firm has a market cap of $1.16 billion, a PE ratio of 33.77 and a beta of 0.94. Materion Corp has a twelve month low of $44.95 and a twelve month high of $65.10. The company has a quick ratio of 1.64, a current ratio of 3.22 and a debt-to-equity ratio of 0.03.
Materion (NYSE:MTRN) last released its earnings results on Thursday, October 25th. The basic materials company reported $0.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.13. The company had revenue of $297.19 million for the quarter, compared to analyst estimates of $307.70 million. Materion had a net margin of 2.74% and a return on equity of 8.94%. On average, equities research analysts anticipate that Materion Corp will post 2.27 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Thursday, November 8th will be issued a dividend of $0.105 per share. The ex-dividend date is Wednesday, November 7th. This represents a $0.42 dividend on an annualized basis and a yield of 0.72%. Materion’s dividend payout ratio (DPR) is presently 24.42%.
Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its holdings in shares of Materion by 7.6% in the 2nd quarter. BlackRock Inc. now owns 2,923,599 shares of the basic materials company’s stock valued at $158,313,000 after purchasing an additional 206,358 shares in the last quarter. Citadel Advisors LLC raised its holdings in shares of Materion by 205.5% in the 2nd quarter. Citadel Advisors LLC now owns 139,926 shares of the basic materials company’s stock valued at $7,577,000 after purchasing an additional 94,121 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of Materion by 15.8% in the 2nd quarter. Acadian Asset Management LLC now owns 635,086 shares of the basic materials company’s stock valued at $34,392,000 after purchasing an additional 86,607 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Materion in the 3rd quarter valued at $4,375,000. Finally, James Investment Research Inc. acquired a new stake in shares of Materion in the 2nd quarter valued at $1,984,000. Institutional investors own 89.50% of the company’s stock.
Separately, Zacks Investment Research upgraded shares of Materion from a “hold” rating to a “buy” rating and set a $69.00 price objective on the stock in a report on Tuesday, July 31st. Two analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $57.50.
Materion Corp. engages in the production of engineered materials used in a variety of electrical, electronic, thermal, and structural applications. The company operates through the following segments: Performance Alloys and Composites, Advanced Materials and Other. The Performance Alloys and Composites segment produces strip and bulk form alloy products, strip metal products with clad inlay and overlay metals, beryllium-based metals, beryllium, and aluminum metal matrix composites, in rod, sheet, foil, and a variety of customized forms, beryllia ceramics, and bulk metallic glass material.
Featured Story: Cash Flow Analysis in Stock Selection
Receive News & Ratings for Materion Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Materion and related companies with MarketBeat.com's FREE daily email newsletter.