Zacks: Materion Corp (MTRN) Given Average Rating of “Hold” by Analysts
Materion Corp (NYSE:MTRN) has been assigned a consensus broker rating score of 3.00 (Hold) from the two analysts that cover the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a hold recommendation.
Analysts have set a twelve-month consensus price target of $44.00 for the company and are forecasting that the company will post $0.38 EPS for the current quarter, according to Zacks. Zacks has also given Materion an industry rank of 171 out of 265 based on the ratings given to related companies.
Several analysts have issued reports on MTRN shares. BidaskClub downgraded shares of Materion from a “buy” rating to a “hold” rating in a research note on Friday, August 18th. Zacks Investment Research raised shares of Materion from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research note on Wednesday, September 27th. Jefferies Group reissued a “hold” rating and issued a $36.00 price objective on shares of Materion in a research note on Thursday, October 12th. KeyCorp reaffirmed a “hold” rating on shares of Materion in a research report on Monday, November 13th. Finally, ValuEngine lowered shares of Materion from a “buy” rating to a “hold” rating in a research report on Friday, December 1st.
Materion (NYSE:MTRN) last announced its quarterly earnings results on Thursday, October 26th. The basic materials company reported $0.50 EPS for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.10. Materion had a net margin of 2.48% and a return on equity of 6.08%. The firm had revenue of $294.27 million during the quarter, compared to the consensus estimate of $290.96 million. During the same quarter last year, the firm earned $0.46 EPS. The firm’s revenue for the quarter was up 17.9% compared to the same quarter last year. research analysts expect that Materion will post 1.6 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Wednesday, November 8th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend was Tuesday, November 7th. Materion’s payout ratio is 30.77%.
In other news, VP Gregory R. Chemnitz sold 3,000 shares of Materion stock in a transaction on Monday, October 30th. The shares were sold at an average price of $49.60, for a total transaction of $148,800.00. Following the completion of the sale, the vice president now directly owns 13,061 shares in the company, valued at $647,825.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director N Mohan Reddy sold 11,393 shares of Materion stock in a transaction on 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. Over the last three months, insiders have sold 48,470 shares of company stock worth $2,420,896. 2.90% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of the company. Algert Global LLC lifted its stake in shares of Materion by 65.9% during the third quarter. Algert Global LLC now owns 59,198 shares of the basic materials company’s stock worth $2,554,000 after buying an additional 23,512 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Materion by 0.5% during the third quarter. Dimensional Fund Advisors LP now owns 1,684,188 shares of the basic materials company’s stock worth $72,672,000 after buying an additional 8,344 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in shares of Materion by 3.4% during the third quarter. Schwab Charles Investment Management Inc. now owns 190,108 shares of the basic materials company’s stock worth $8,204,000 after buying an additional 6,206 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in Materion during the third quarter valued at $397,000. Finally, Wells Fargo & Company MN lifted its position in Materion by 6.9% during the third quarter. Wells Fargo & Company MN now owns 92,855 shares of the basic materials company’s stock valued at $4,007,000 after purchasing an additional 5,996 shares during the period. Institutional investors and hedge funds own 90.02% of the company’s stock.
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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