Zacks Investment Research upgraded shares of Materion (NYSE:MTRN) from a hold rating to a buy rating in a research note issued to investors on Wednesday. Zacks Investment Research currently has $60.00 target price on the basic materials company’s stock.
According to Zacks, “Materion Corporation, formerly known as Brush Engineered Materials Inc., through its wholly-owned subsidiaries is engaged in the production and supply of high-performance engineered materials in the United States and internationally. Products offered by the Company comprise precious and non-precious specialty metals, inorganic chemicals and powders, specialty coatings, specialty engineered beryllium alloys, beryllium and beryllium composites, and engineered clad and plated metal systems. Materion Corporation is headquartered in Mayfield Heights, Ohio. “
A number of other research analysts have also issued reports on MTRN. TheStreet lowered Materion from a b rating to a c+ rating in a report on Friday, February 16th. ValuEngine upgraded Materion from a hold rating to a buy rating in a report on Thursday, March 1st. Finally, Jefferies Group reiterated a hold rating and issued a $46.00 target price on shares of Materion in a report on Tuesday, January 9th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Materion presently has an average rating of Buy and a consensus target price of $54.00.
Materion (NYSE MTRN) opened at $53.00 on Wednesday. The stock has a market capitalization of $1,076.21, a price-to-earnings ratio of 31.10 and a beta of 1.01. Materion has a fifty-two week low of $31.05 and a fifty-two week high of $54.90. The company has a quick ratio of 1.50, a current ratio of 3.23 and a debt-to-equity ratio of 0.01.
Materion (NYSE:MTRN) last released its earnings results on Thursday, February 15th. The basic materials company reported $0.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.13. The firm had revenue of $308.67 million during the quarter, compared to analyst estimates of $285.50 million. Materion had a return on equity of 6.95% and a net margin of 1.00%. Materion’s revenue was up 31.7% compared to the same quarter last year. During the same period last year, the business posted $0.28 earnings per share. research analysts anticipate that Materion will post 2.08 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 7th. Shareholders of record on Wednesday, February 21st were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date was Tuesday, February 20th. Materion’s dividend payout ratio (DPR) is 71.43%.
In other Materion news, Director Craig S. Shular sold 5,267 shares of Materion stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $52.73, for a total transaction of $277,728.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Joseph P. Kelley sold 2,419 shares of Materion stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $51.43, for a total value of $124,409.17. The disclosure for this sale can be found here. Insiders have sold a total of 15,686 shares of company stock valued at $806,938 over the last ninety days. 2.90% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in MTRN. The Manufacturers Life Insurance Company lifted its holdings in Materion by 0.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,496 shares of the basic materials company’s stock worth $580,000 after buying an additional 58 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new stake in shares of Materion during the third quarter worth about $266,000. BNP Paribas Arbitrage SA increased its position in shares of Materion by 52.2% during the third quarter. BNP Paribas Arbitrage SA now owns 11,651 shares of the basic materials company’s stock worth $503,000 after purchasing an additional 3,994 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its position in shares of Materion by 39.3% during the third quarter. Municipal Employees Retirement System of Michigan now owns 9,920 shares of the basic materials company’s stock worth $428,000 after purchasing an additional 2,800 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Materion during the third quarter worth about $205,000. 91.96% of the stock is owned by institutional investors.
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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