Materion Corp (NYSE:MTRN) – Stock analysts at KeyCorp lifted their FY2018 earnings estimates for shares of Materion in a research report issued to clients and investors on Thursday, November 1st. KeyCorp analyst P. Gibbs now expects that the basic materials company will post earnings per share of $2.30 for the year, up from their prior estimate of $2.18. KeyCorp also issued estimates for Materion’s Q4 2018 earnings at $0.57 EPS and FY2019 earnings at $2.60 EPS.
Separately, Zacks Investment Research lowered shares of Materion from a “buy” rating to a “hold” rating in a research note on Tuesday, July 10th. Two investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Materion presently has an average rating of “Buy” and a consensus price target of $57.50.
Shares of Materion stock opened at $58.52 on Friday. The stock has a market capitalization of $1.16 billion, a P/E ratio of 34.02 and a beta of 0.94. Materion has a twelve month low of $44.95 and a twelve month high of $65.10. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.64 and a current ratio of 3.22.
Materion (NYSE:MTRN) last issued its quarterly earnings results on Thursday, October 25th. The basic materials company reported $0.68 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.13. The firm 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%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. purchased a new position in Materion in the 2nd quarter worth approximately $112,000. AMP Capital Investors Ltd purchased a new position in Materion in the 2nd quarter worth approximately $201,000. GSA Capital Partners LLP purchased a new position in Materion in the 2nd quarter worth approximately $203,000. Cubist Systematic Strategies LLC lifted its stake in Materion by 40.9% in the 1st quarter. Cubist Systematic Strategies LLC now owns 3,869 shares of the basic materials company’s stock worth $198,000 after purchasing an additional 1,124 shares in the last quarter. Finally, New England Research & Management Inc. purchased a new position in Materion in the 3rd quarter worth approximately $242,000. 89.50% of the stock is currently owned by institutional investors and hedge funds.
In other Materion news, VP Gregory R. Chemnitz sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $57.50, for a total value of $230,000.00. Following the transaction, the vice president now directly owns 8,523 shares of the company’s stock, valued at approximately $490,072.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Joseph P. Kelley bought 2,923 shares of the firm’s stock in a transaction on Wednesday, August 8th. The stock was acquired at an average cost of $63.74 per share, for a total transaction of $186,312.02. The disclosure for this purchase can be found here. Company insiders own 2.90% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Thursday, November 8th will be paid a $0.105 dividend. This represents a $0.42 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date is Wednesday, November 7th. Materion’s dividend payout ratio is presently 24.42%.
Materion Company Profile
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.
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