Materion Corporation (NYSE:MTRN)‘s stock had its “hold” rating reaffirmed by equities researchers at Jefferies Group LLC in a report released on Friday. They presently have a $34.00 price target on the basic materials company’s stock. Jefferies Group LLC’s target price suggests a potential downside of 9.21% from the company’s current price.

Separately, Zacks Investment Research cut shares of Materion Corporation from a “buy” rating to a “hold” rating in a research report on Friday, May 26th.

Shares of Materion Corporation (MTRN) traded up 1.22% during midday trading on Friday, hitting $37.45. 54,652 shares of the company traded hands. Materion Corporation has a 52 week low of $24.18 and a 52 week high of $41.23. The stock has a 50 day moving average of $35.74 and a 200-day moving average of $36.41. The stock has a market capitalization of $748.48 million, a PE ratio of 32.59 and a beta of 1.15.

Materion Corporation (NYSE:MTRN) last announced its earnings results on Friday, April 28th. The basic materials company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. The business had revenue of $240.67 million for the quarter, compared to the consensus estimate of $231.58 million. Materion Corporation had a net margin of 2.40% and a return on equity of 5.50%. Materion Corporation’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the firm posted $0.27 earnings per share. Equities analysts forecast that Materion Corporation will post $1.50 earnings per share for the current fiscal year.

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In other Materion Corporation news, insider Richard J. Hipple sold 5,000 shares of the stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $37.22, for a total transaction of $186,100.00. Following the transaction, the insider now directly owns 67,091 shares in the company, valued at $2,497,127.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Richard J. Hipple sold 2,500 shares of the stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $34.17, for a total transaction of $85,425.00. Following the transaction, the insider now owns 124,591 shares in the company, valued at $4,257,274.47. The disclosure for this sale can be found here. Insiders have sold 72,500 shares of company stock worth $2,579,650 over the last quarter. Company insiders own 2.90% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC purchased a new position in shares of Materion Corporation during the first quarter valued at about $115,000. Springbok Capital Management LLC boosted its position in shares of Materion Corporation by 221.4% in the first quarter. Springbok Capital Management LLC now owns 4,500 shares of the basic materials company’s stock valued at $119,000 after buying an additional 3,100 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Materion Corporation by 16.2% in the first quarter. Legal & General Group Plc now owns 4,544 shares of the basic materials company’s stock valued at $122,000 after buying an additional 632 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Materion Corporation by 50.5% in the first quarter. Victory Capital Management Inc. now owns 3,789 shares of the basic materials company’s stock valued at $127,000 after buying an additional 1,271 shares in the last quarter. Finally, Mason Street Advisors LLC boosted its position in shares of Materion Corporation by 7.1% in the first quarter. Mason Street Advisors LLC now owns 4,665 shares of the basic materials company’s stock valued at $157,000 after buying an additional 308 shares in the last quarter. Hedge funds and other institutional investors own 89.98% of the company’s stock.

Materion Corporation Company Profile

Materion Corporation, through its subsidiaries, is an integrated producer of engineered materials used in a range of electrical, electronic, thermal, and structural applications. The Company operates in four segments: Performance Alloys and Composites, Advanced Materials, Precision Coatings, and Other.

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