Materion Corp (NYSE:MTRN) Director Richard J. Hipple sold 4,364 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The shares were 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 directly owns 37,760 shares of the company’s stock, valued at approximately $1,874,406.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.
Shares of Materion Corp (MTRN) traded down $0.40 during mid-day trading on Wednesday, reaching $48.60. 141,500 shares of the company’s stock traded hands, compared to its average volume of 91,675. The company has a market capitalization of $965.09, a price-to-earnings ratio of 32.89 and a beta of 1.07. The company has a current ratio of 3.42, a quick ratio of 1.48 and a debt-to-equity ratio of 0.01. Materion Corp has a twelve month low of $31.05 and a twelve month high of $52.10.
Materion (NYSE:MTRN) last posted its quarterly earnings results on Thursday, October 26th. The basic materials company reported $0.50 earnings per share (EPS) for the quarter, beating the 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 company had revenue of $294.27 million for the quarter, compared to analyst estimates of $290.96 million. During the same quarter in the previous year, the firm posted $0.46 earnings per share. The company’s quarterly revenue was up 17.9% compared to the same quarter last year. analysts expect that Materion Corp will post 1.6 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Wednesday, November 8th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, November 7th. This represents a $0.40 annualized dividend and a yield of 0.82%. Materion’s dividend payout ratio is currently 30.77%.
A number of hedge funds have recently added to or reduced their stakes in MTRN. SG Americas Securities LLC purchased a new stake in shares of Materion in the 3rd quarter valued at $128,000. State of Alaska Department of Revenue boosted its stake in shares of Materion by 79.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 3,949 shares of the basic materials company’s stock valued at $147,000 after purchasing an additional 1,749 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Materion by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 4,458 shares of the basic materials company’s stock valued at $167,000 after purchasing an additional 669 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Materion by 0.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 5,130 shares of the basic materials company’s stock valued at $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 in the 3rd quarter valued at $205,000. 90.02% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have recently issued reports on MTRN shares. BidaskClub downgraded shares of Materion from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 10th. Zacks Investment Research raised shares of Materion from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research note on Wednesday, September 27th. ValuEngine downgraded shares of Materion from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. KeyCorp restated a “hold” rating on shares of Materion in a report on Monday, November 13th. Finally, Jefferies Group restated a “hold” rating and issued a $36.00 price target on shares of Materion in a 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’s stock. Materion has an average rating of “Hold” and an average price target of $39.50.
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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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