Materion (MTRN) Announces Quarterly Earnings Results, Beats Expectations By $0.13 EPS

Materion (NYSE:MTRN) announced its quarterly earnings results on Thursday. The basic materials company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.13, Bloomberg Earnings reports. Materion had a net margin of 2.48% and a return on equity of 6.08%. The company had revenue of $308.67 million for the quarter, compared to analysts’ expectations of $285.50 million. During the same quarter in the previous year, the business posted $0.28 earnings per share. Materion’s quarterly revenue was up 31.7% on a year-over-year basis. Materion updated its FY18 guidance to $1.95-2.10 EPS.

Materion (MTRN) traded up $3.05 during mid-day trading on Thursday, reaching $50.10. 30,355 shares of the company’s stock were exchanged, compared to its average volume of 124,648. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.42 and a quick ratio of 1.48. Materion has a fifty-two week low of $31.05 and a fifty-two week high of $53.92. The company has a market capitalization of $924.00, a PE ratio of 36.19 and a beta of 1.06.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 7th. Shareholders of record on Wednesday, February 21st will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend is Tuesday, February 20th. Materion’s dividend payout ratio (DPR) is 30.77%.

In other news, Director Craig S. Shular sold 5,267 shares of the company’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $52.73, for a total value of $277,728.91. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard J. Hipple sold 4,364 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $49.64, for a total transaction of $216,628.96. Following the completion of the transaction, the director now owns 37,760 shares in the company, valued at $1,874,406.40. The disclosure for this sale can be found here. Insiders own 2.90% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of MTRN. Wells Fargo & Company MN grew its holdings in shares of Materion by 0.8% in the second quarter. Wells Fargo & Company MN now owns 86,859 shares of the basic materials company’s stock worth $3,248,000 after purchasing an additional 700 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of Materion by 17.5% in the second quarter. Alliancebernstein L.P. now owns 27,481 shares of the basic materials company’s stock worth $1,028,000 after purchasing an additional 4,100 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Materion by 0.7% in 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 during the last quarter. UBS Asset Management Americas Inc. bought a new position in shares of Materion in the second quarter worth about $280,000. Finally, Vanguard Group Inc. grew its holdings in shares of Materion by 1.4% in the second quarter. Vanguard Group Inc. now owns 1,905,636 shares of the basic materials company’s stock worth $71,271,000 after purchasing an additional 25,885 shares during the last quarter. Hedge funds and other institutional investors own 90.16% of the company’s stock.

Several equities research analysts recently weighed in on MTRN shares. Zacks Investment Research upgraded shares of Materion from a “hold” rating to a “strong-buy” rating and set a $56.00 price target on the stock in a research report on Wednesday, December 27th. Jefferies Group restated a “hold” rating and issued a $46.00 price target on shares of Materion in a research report on Tuesday, January 9th. ValuEngine cut shares of Materion from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. KeyCorp restated a “hold” rating on shares of Materion in a research report on Monday, November 13th. Finally, BidaskClub upgraded shares of Materion from a “hold” rating to a “buy” rating in a research report on Tuesday, October 31st. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $51.00.

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About Materion

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.

Earnings History for Materion (NYSE:MTRN)

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