Brokerages forecast that Materion Corporation (NYSE:MTRN) will announce earnings of $0.38 per share for the current quarter, according to Zacks. Three analysts have issued estimates for Materion Corporation’s earnings, with estimates ranging from $0.35 to $0.41. Materion Corporation posted earnings per share of $0.46 in the same quarter last year, which would suggest a negative year over year growth rate of 17.4%. The company is expected to announce its next quarterly earnings report on Thursday, October 26th.
On average, analysts expect that Materion Corporation will report full year earnings of $1.51 per share for the current fiscal year, with EPS estimates ranging from $1.45 to $1.55. For the next year, analysts expect that the firm will report earnings of $1.86 per share, with EPS estimates ranging from $1.75 to $1.94. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Materion Corporation.
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 consensus estimate of $0.40 by $0.02. The company had revenue of $295.80 million for the quarter, compared to analysts’ expectations of $254.28 million. Materion Corporation had a net margin of 2.47% and a return on equity of 5.96%. Materion Corporation’s revenue was up 18.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.31 EPS.
Several equities research analysts have weighed in on MTRN shares. Zacks Investment Research raised Materion Corporation from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research report on Wednesday, September 27th. BidaskClub raised Materion Corporation from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 2nd. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $34.00 target price on shares of Materion Corporation in a research report on Friday, July 7th.
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In other news, VP Gregory R. Chemnitz sold 3,000 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $38.29, for a total transaction of $114,870.00. Following the transaction, the vice president now directly owns 18,052 shares of the company’s stock, valued at $691,211.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.90% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Phocas Financial Corp. increased its holdings in shares of Materion Corporation by 4.7% during the second quarter. Phocas Financial Corp. now owns 269,383 shares of the basic materials company’s stock valued at $10,075,000 after purchasing an additional 12,022 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Materion Corporation by 0.4% during the second quarter. The Manufacturers Life Insurance Company now owns 15,496 shares of the basic materials company’s stock valued at $580,000 after purchasing an additional 58 shares during the period. State Street Corp increased its holdings in shares of Materion Corporation by 4.2% during the second quarter. State Street Corp now owns 672,956 shares of the basic materials company’s stock valued at $25,167,000 after purchasing an additional 26,973 shares during the period. Numeric Investors LLC increased its holdings in shares of Materion Corporation by 18.5% during the second quarter. Numeric Investors LLC now owns 146,052 shares of the basic materials company’s stock valued at $5,462,000 after purchasing an additional 22,800 shares during the period. Finally, Citadel Advisors LLC increased its holdings in shares of Materion Corporation by 14.2% during the second quarter. Citadel Advisors LLC now owns 98,561 shares of the basic materials company’s stock valued at $3,686,000 after purchasing an additional 12,236 shares during the period. 90.81% of the stock is currently owned by institutional investors.
Shares of Materion Corporation (NYSE MTRN) traded down 0.92% during trading on Friday, reaching $43.15. 11,948 shares of the company’s stock traded hands. The company has a market capitalization of $864.64 million, a price-to-earnings ratio of 34.83 and a beta of 1.14. Materion Corporation has a 1-year low of $28.50 and a 1-year high of $44.80. The company has a 50 day moving average of $39.42 and a 200-day moving average of $36.78.
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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