Materion (MTRN) Rating Lowered to Hold at ValuEngine
Materion (NYSE:MTRN) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.
A number of other research analysts also recently weighed in on the stock. Zacks Investment Research upgraded shares of Materion from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research report on Wednesday, September 27th. KeyCorp reiterated a “hold” rating on shares of Materion in a research report on Monday, November 13th. BidaskClub downgraded shares of Materion from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 10th. Finally, Jefferies Group reiterated a “hold” rating and issued a $36.00 price objective on shares of Materion in a research report on Thursday, October 12th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Materion presently has a consensus rating of “Hold” and an average price target of $39.50.
Materion (NYSE MTRN) opened at $48.95 on Friday. The stock has a market cap of $981.10, a price-to-earnings ratio of 32.85 and a beta of 1.08. Materion has a 1 year low of $31.05 and a 1 year high of $52.10. The company has a current ratio of 3.42, a quick ratio of 1.48 and a debt-to-equity ratio of 0.01.
In other news, Director Richard J. Hipple sold 9,713 shares of the business’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $50.02, for a total transaction of $485,844.26. Following the completion of the sale, the director now owns 52,591 shares of the company’s stock, valued at $2,630,601.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director N Mohan Reddy sold 11,393 shares of the business’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $50.11, for a total transaction of $570,903.23. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,470 shares of company stock valued at $2,420,896. Insiders own 2.90% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in shares of Materion during the third quarter worth about $128,000. State of Alaska Department of Revenue increased its stake in shares of Materion by 79.5% during the second quarter. State of Alaska Department of Revenue now owns 3,949 shares of the basic materials company’s stock worth $147,000 after purchasing an additional 1,749 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Materion by 17.7% during the second quarter. Victory Capital Management Inc. now owns 4,458 shares of the basic materials company’s stock worth $167,000 after purchasing an additional 669 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Materion by 0.7% during the second quarter. PNC Financial Services Group Inc. now owns 5,130 shares of the basic materials company’s stock worth $193,000 after purchasing an additional 34 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of Materion during the third quarter worth about $205,000. 90.02% of the stock is owned by institutional investors and hedge funds.
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Materion 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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