Materion (NYSE:MTRN) shares reached a new 52-week high and low on Thursday . The stock traded as low as $56.90 and last traded at $56.70, with a volume of 1568 shares trading hands. The stock had previously closed at $55.75.
Several brokerages have weighed in on MTRN. TheStreet lowered Materion from a “b” rating to a “c+” rating in a research report on Friday, February 16th. ValuEngine raised Materion from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 17th. Jefferies Group set a $48.00 target price on Materion and gave the stock a “hold” rating in a research report on Thursday, February 15th. Finally, Zacks Investment Research raised Materion from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Wednesday, March 14th. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $54.00.
The company has a quick ratio of 1.58, a current ratio of 3.48 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of 32.94 and a beta of 1.00.
Materion (NYSE:MTRN) last issued its earnings results on Thursday, April 26th. The basic materials company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.07. Materion had a return on equity of 7.83% and a net margin of 1.58%. The company had revenue of $303.50 million for the quarter, compared to analyst estimates of $300.73 million. During the same period in the prior year, the firm posted $0.29 EPS. The business’s revenue was up 26.1% compared to the same quarter last year. equities research analysts predict that Materion will post 2.1 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Wednesday, May 16th will be given a $0.105 dividend. This is a positive change from Materion’s previous quarterly dividend of $0.10. This represents a $0.42 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend is Tuesday, May 15th. Materion’s dividend payout ratio is presently 24.42%.
In other news, Director Joseph P. Keithley sold 8,000 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $50.60, for a total transaction of $404,800.00. Following the completion of the sale, the director now owns 11,757 shares in the company, valued at approximately $594,904.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Craig S. Shular sold 7,626 shares of the company’s stock in a transaction dated Tuesday, May 8th. The stock was sold at an average price of $53.76, for a total value of $409,973.76. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,045 shares of company stock worth $1,199,283. Insiders own 2.90% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Materion by 2.3% during the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 705,545 shares of the basic materials company’s stock worth $36,017,000 after acquiring an additional 15,530 shares in the last quarter. Cubist Systematic Strategies LLC boosted its stake in shares of Materion by 40.9% during the 1st quarter. Cubist Systematic Strategies LLC now owns 3,869 shares of the basic materials company’s stock worth $198,000 after acquiring an additional 1,124 shares in the last quarter. We Are One Seven LLC boosted its stake in shares of Materion by 32.7% during the 1st quarter. We Are One Seven LLC now owns 17,576 shares of the basic materials company’s stock worth $897,000 after acquiring an additional 4,331 shares in the last quarter. Uniplan Investment Counsel Inc. boosted its stake in shares of Materion by 1.8% during the 1st quarter. Uniplan Investment Counsel Inc. now owns 181,238 shares of the basic materials company’s stock worth $9,252,000 after acquiring an additional 3,214 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Materion by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 154,838 shares of the basic materials company’s stock worth $7,904,000 after acquiring an additional 4,000 shares in the last quarter. Institutional investors own 93.73% of the company’s stock.
Materion Corporation manufactures and sells advanced engineered materials used in consumer electronics, industrial components, defense, medical, automotive electronics, telecommunications infrastructure, energy, commercial aerospace, science, services, and appliance markets worldwide. The company operates through Performance Alloys and Composites, Advanced Materials, and Precision Coatings segments.
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