BidaskClub Downgrades Materion Corporation (MTRN) to Hold
Materion Corporation (NYSE:MTRN) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a report issued on Friday.
A number of other brokerages have also issued reports on MTRN. Jefferies Group LLC reissued a “hold” rating and issued a $36.00 price objective on shares of Materion Corporation in a report on Thursday, October 12th. Zacks Investment Research lowered shares of Materion Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th.
Materion Corporation (MTRN) traded up 0.12% during midday trading on Friday, hitting $42.75. 69,079 shares of the stock traded hands. The firm has a market cap of $856.62 million, a PE ratio of 34.50 and a beta of 1.14. Materion Corporation has a 52-week low of $29.05 and a 52-week high of $44.80. The stock has a 50-day moving average of $40.83 and a 200 day moving average of $37.52.
Materion Corporation (NYSE:MTRN) last announced its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.42 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $254.28 million. During the same quarter in the prior year, the firm posted $0.31 earnings per share. Materion Corporation’s quarterly revenue was up 18.4% on a year-over-year basis. Equities analysts forecast that Materion Corporation will post $1.52 EPS for the current year.
In other Materion Corporation 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 value of $114,870.00. Following the transaction, the vice president now owns 18,052 shares of the company’s stock, valued at $691,211.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of MTRN. Nationwide Fund Advisors lifted its position in Materion Corporation by 5.0% in the first quarter. Nationwide Fund Advisors now owns 19,080 shares of the basic materials company’s stock valued at $640,000 after buying an additional 910 shares during the last quarter. Bank of New York Mellon Corp lifted its position 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. Comerica Bank lifted its position 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. Karp Capital Management Corp acquired a new position in Materion Corporation in the first quarter valued at about $474,000. Finally, Parametric Portfolio Associates LLC lifted its position in Materion Corporation by 54.9% in the first quarter. Parametric Portfolio Associates LLC now owns 107,342 shares of the basic materials company’s stock valued at $3,601,000 after buying an additional 38,045 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors.
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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