Brokerages predict that Materion Corp (NYSE:MTRN) will report earnings per share of $0.44 for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Materion’s earnings. The highest EPS estimate is $0.46 and the lowest is $0.41. Materion reported earnings per share of $0.29 in the same quarter last year, which would suggest a positive year-over-year growth rate of 51.7%. The firm is expected to announce its next quarterly earnings results on Friday, April 27th.
According to Zacks, analysts expect that Materion will report full-year earnings of $2.08 per share for the current financial year, with EPS estimates ranging from $2.02 to $2.18. For the next year, analysts forecast that the business will report earnings of $2.40 per share, with EPS estimates ranging from $2.35 to $2.45. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Materion.
Materion (NYSE:MTRN) last posted its quarterly earnings results on Thursday, February 15th. The basic materials company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.38 by $0.13. Materion had a net margin of 1.00% and a return on equity of 6.95%. The business had revenue of $308.67 million during the quarter, compared to analyst estimates of $285.50 million. During the same quarter in the previous year, the business posted $0.28 EPS. The company’s quarterly revenue was up 31.7% compared to the same quarter last year.
Several equities research analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Materion from a “hold” rating to a “strong-buy” rating and set a $56.00 price target for the company in a report on Wednesday, December 27th. Jefferies Group restated a “hold” rating and issued a $46.00 price target on shares of Materion in a report on Tuesday, January 9th. TheStreet lowered shares of Materion from a “b” rating to a “c+” rating in a report on Friday, February 16th. Finally, ValuEngine upgraded shares of Materion from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Materion currently has a consensus rating of “Buy” and an average price target of $54.00.
Shares of NYSE:MTRN traded down $1.80 during trading hours on Friday, hitting $51.25. The company’s stock had a trading volume of 125,729 shares, compared to its average volume of 141,738. Materion has a 52 week low of $33.00 and a 52 week high of $55.35. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.50 and a current ratio of 3.23. The firm has a market cap of $1,030.94, a P/E ratio of 29.80 and a beta of 0.99.
In other news, VP Joseph P. Kelley sold 2,419 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $51.43, for a total value of $124,409.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Craig S. Shular sold 5,267 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $52.73, for a total transaction of $277,728.91. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,686 shares of company stock valued at $806,938. Company insiders own 2.90% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of MTRN. Millennium Management LLC raised its stake in shares of Materion by 3,128.9% during the 4th quarter. Millennium Management LLC now owns 238,581 shares of the basic materials company’s stock worth $11,595,000 after acquiring an additional 231,192 shares in the last quarter. ACK Asset Management LLC raised its stake in shares of Materion by 142.5% during the 4th quarter. ACK Asset Management LLC now owns 310,000 shares of the basic materials company’s stock worth $15,066,000 after acquiring an additional 182,183 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Materion by 127.1% during the 4th quarter. Acadian Asset Management LLC now owns 315,510 shares of the basic materials company’s stock worth $15,335,000 after acquiring an additional 176,602 shares in the last quarter. BlackRock Inc. raised its stake in shares of Materion by 4.6% during the 4th quarter. BlackRock Inc. now owns 2,732,251 shares of the basic materials company’s stock worth $132,788,000 after acquiring an additional 119,764 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new position in shares of Materion during the 4th quarter worth approximately $5,490,000. Hedge funds and other institutional investors own 92.14% of the company’s stock.
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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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