$287.23 Million in Sales Expected for Materion Corporation (NYSE:MTRN) This Quarter
Wall Street brokerages forecast that Materion Corporation (NYSE:MTRN) will report $287.23 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Materion Corporation’s earnings, with the lowest sales estimate coming in at $286.00 million and the highest estimate coming in at $288.45 million. Materion Corporation reported sales of $249.62 million in the same quarter last year, which indicates a positive year-over-year growth rate of 15.1%. The business is expected to issue its next earnings report on Thursday, October 26th.
According to Zacks, analysts expect that Materion Corporation will report full year sales of $287.23 million for the current fiscal year, with estimates ranging from $1.09 billion to $1.12 billion. For the next year, analysts forecast that the firm will post sales of $1.16 billion per share, with estimates ranging from $1.14 billion to $1.18 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Materion Corporation.
Materion Corporation (NYSE:MTRN) last announced its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.02. Materion Corporation had a net margin of 2.47% and a return on equity of 5.96%. The firm had revenue of $295.80 million for the quarter, compared to analyst estimates of $254.28 million. During the same quarter in the previous year, the firm posted $0.31 earnings per share. The business’s revenue was up 18.4% on a year-over-year basis.
MTRN has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Materion Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, April 26th. Jefferies Group LLC reaffirmed a “hold” rating and set a $34.00 price objective on shares of Materion Corporation in a research report on Friday, July 7th. Finally, BidaskClub raised shares of Materion Corporation from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 2nd. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $36.67.
Materion Corporation (MTRN) opened at 37.70 on Friday. Materion Corporation has a 52 week low of $27.20 and a 52 week high of $41.23. The firm has a 50-day moving average of $37.83 and a 200-day moving average of $36.05. The company has a market cap of $755.43 million, a price-to-earnings ratio of 30.43 and a beta of 1.16.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Investors of record on Friday, August 18th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend is Wednesday, August 16th. Materion Corporation’s payout ratio is currently 32.26%.
In related news, insider Richard J. Hipple sold 2,500 shares of Materion Corporation stock in a transaction on Friday, May 19th. The shares were sold at an average price of $34.17, for a total value of $85,425.00. Following the completion of the sale, the insider now owns 124,591 shares of the company’s stock, valued at approximately $4,257,274.47. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Richard J. Hipple sold 5,000 shares of Materion Corporation stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $34.47, for a total transaction of $172,350.00. Following the completion of the sale, the insider now directly owns 122,091 shares of the company’s stock, valued at approximately $4,208,476.77. The disclosure for this sale can be found here. In the last three months, insiders sold 75,500 shares of company stock valued at $2,694,520. 2.90% of the stock is currently owned by insiders.
A number of hedge funds have recently bought and sold shares of MTRN. TFS Capital LLC acquired a new stake in Materion Corporation during the first quarter valued at about $1,119,000. Ameriprise Financial Inc. increased its stake in Materion Corporation by 12.4% in the first quarter. Ameriprise Financial Inc. now owns 649,987 shares of the basic materials company’s stock valued at $21,808,000 after buying an additional 71,786 shares during the last quarter. Karp Capital Management Corp acquired a new stake in Materion Corporation during the first quarter valued at about $474,000. Comerica Bank increased its stake in Materion Corporation by 3.6% in the first quarter. Comerica Bank now owns 22,039 shares of the basic materials company’s stock valued at $783,000 after buying an additional 758 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Materion Corporation by 7.9% in the first quarter. Bank of New York Mellon Corp now owns 357,546 shares of the basic materials company’s stock valued at $11,994,000 after buying an additional 26,262 shares during the last quarter. 89.08% of the stock is owned by institutional investors and hedge funds.
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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