Materion Corporation (MTRN) Rating Lowered to Hold at BidaskClub
Materion Corporation (NYSE:MTRN) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Friday.
Other analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Materion Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, June 15th. Jefferies Group LLC reissued a “hold” rating and set a $34.00 target price on shares of Materion Corporation in a research note on Friday, July 7th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $36.67.
Shares of Materion Corporation (MTRN) traded up 0.27% during trading on Friday, hitting $37.10. The stock had a trading volume of 67,838 shares. The firm’s 50-day moving average is $37.91 and its 200-day moving average is $35.97. The firm has a market cap of $743.41 million, a P/E ratio of 29.94 and a beta of 1.16. Materion Corporation has a one year low of $27.99 and a one year high of $41.23.
Materion Corporation (NYSE:MTRN) last posted its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.02. The company had revenue of $295.80 million for the quarter, compared to analysts’ expectations of $254.28 million. Materion Corporation had a return on equity of 5.96% and a net margin of 2.47%. The firm’s revenue was up 18.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.31 earnings per share. Equities research analysts forecast that Materion Corporation will post $1.52 EPS for the current year.
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In related news, VP Gregory R. Chemnitz sold 3,000 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $38.29, for a total value of $114,870.00. Following the completion of the sale, the vice president now directly owns 18,052 shares in the company, valued at $691,211.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Richard J. Hipple sold 5,000 shares of the company’s stock in a transaction on Tuesday, May 23rd. The stock was 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 owns 122,091 shares of the company’s stock, valued at $4,208,476.77. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 73,000 shares of company stock worth $2,609,095. 2.90% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of the company. Louisiana State Employees Retirement System boosted its stake in shares of Materion Corporation by 1.3% in the first quarter. Louisiana State Employees Retirement System now owns 8,100 shares of the basic materials company’s stock worth $272,000 after buying an additional 100 shares in the last quarter. Nationwide Fund Advisors boosted its stake in shares of Materion Corporation by 5.0% in the first quarter. Nationwide Fund Advisors now owns 19,080 shares of the basic materials company’s stock worth $640,000 after buying an additional 910 shares in the last quarter. Strs Ohio boosted its stake in shares of Materion Corporation by 12.1% in the first quarter. Strs Ohio now owns 23,200 shares of the basic materials company’s stock worth $778,000 after buying an additional 2,500 shares in the last quarter. First Midwest Bank Trust Division boosted its stake in shares of Materion Corporation by 3.3% in the first quarter. First Midwest Bank Trust Division now owns 7,222 shares of the basic materials company’s stock worth $242,000 after buying an additional 231 shares in the last quarter. Finally, Great West Life Assurance Co. Can boosted its stake in shares of Materion Corporation by 4.1% in the first quarter. Great West Life Assurance Co. Can now owns 26,345 shares of the basic materials company’s stock worth $880,000 after buying an additional 1,035 shares in the last quarter. Hedge funds and other institutional investors own 89.04% of the company’s stock.
About Materion Corporation
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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