Materion Corporation (NYSE:MTRN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

According to Zacks, “Materion Corporation, formerly known as Brush Engineered Materials Inc., through its wholly-owned subsidiaries is engaged in the production and supply of high-performance engineered materials in the United States and internationally. Products offered by the Company comprise precious and non-precious specialty metals, inorganic chemicals and powders, specialty coatings, specialty engineered beryllium alloys, beryllium and beryllium composites, and engineered clad and plated metal systems. Materion Corporation is headquartered in Mayfield Heights, Ohio. “

Several other brokerages also recently weighed in on MTRN. BidaskClub raised shares of Materion Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, September 28th. Jefferies Group LLC reissued a “hold” rating and issued a $34.00 target price on shares of Materion Corporation in a research note on Friday, July 7th.

Shares of Materion Corporation (NYSE:MTRN) opened at 43.00 on Wednesday. Materion Corporation has a 52-week low of $28.50 and a 52-week high of $44.80. The firm has a market capitalization of $861.63 million, a PE ratio of 34.71 and a beta of 1.14. The company’s 50-day moving average is $39.76 and its 200 day moving average is $37.00.

Materion Corporation (NYSE:MTRN) last announced its earnings results on Thursday, July 27th. The basic materials company reported $0.42 earnings per share for the quarter, beating the 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 during the quarter, compared to the consensus estimate of $254.28 million. During the same quarter in the previous year, the company posted $0.31 EPS. The firm’s revenue for the quarter was up 18.4% on a year-over-year basis. Equities analysts expect that Materion Corporation will post $1.52 earnings per share for the current fiscal year.

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In other news, VP Gregory R. Chemnitz sold 3,000 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $38.29, for a total transaction of $114,870.00. Following the completion of the transaction, the vice president now owns 18,052 shares of the company’s stock, valued at approximately $691,211.08. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 2.90% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new position in shares of Materion Corporation during the 1st quarter valued at about $115,000. Victory Capital Management Inc. increased its stake in shares of Materion Corporation by 50.5% during the 1st quarter. Victory Capital Management Inc. now owns 3,789 shares of the basic materials company’s stock valued at $127,000 after acquiring an additional 1,271 shares during the last quarter. State of Alaska Department of Revenue increased its stake in shares of Materion Corporation by 79.5% during the 2nd quarter. State of Alaska Department of Revenue now owns 3,949 shares of the basic materials company’s stock valued at $147,000 after acquiring an additional 1,749 shares during the last quarter. Mason Street Advisors LLC increased its stake in shares of Materion Corporation by 7.1% during the 1st quarter. Mason Street Advisors LLC now owns 4,665 shares of the basic materials company’s stock valued at $157,000 after acquiring an additional 308 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of Materion Corporation by 1.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,096 shares of the basic materials company’s stock valued at $171,000 after acquiring an additional 96 shares during the last quarter. 90.81% of the stock is owned by institutional investors.

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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