Materion Corporation (MTRN) Upgraded to Buy at BidaskClub
BidaskClub upgraded shares of Materion Corporation (NYSE:MTRN) from a hold rating to a buy rating in a research note published on Tuesday morning.
A number of other brokerages also recently weighed in on MTRN. Jefferies Group LLC reaffirmed a hold rating and issued a $36.00 target price on shares of Materion Corporation in a research note on Thursday, October 12th. Zacks Investment Research downgraded shares of Materion Corporation from a buy rating to a hold rating in a research note on Tuesday, July 4th.
Materion Corporation (NYSE MTRN) traded down 0.68% on Tuesday, hitting $51.00. 23,660 shares of the company were exchanged. The stock has a 50 day moving average price of $42.43 and a 200 day moving average price of $38.18. Materion Corporation has a one year low of $29.50 and a one year high of $52.10. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of 41.16 and a beta of 1.14.
Materion Corporation (NYSE:MTRN) last announced its earnings results on Thursday, October 26th. The basic materials company reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.10. Materion Corporation had a net margin of 2.48% and a return on equity of 6.08%. The company had revenue of $294.27 million during the quarter, compared to the consensus estimate of $290.96 million. During the same period in the previous year, the firm posted $0.46 earnings per share. The company’s revenue was up 17.9% on a year-over-year basis. On average, equities research analysts forecast that Materion Corporation will post $1.58 EPS for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 8th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date is Tuesday, November 7th. Materion Corporation’s dividend payout ratio is presently 30.77%.
In other Materion Corporation news, VP Gregory R. Chemnitz sold 3,000 shares of the business’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $49.60, for a total value of $148,800.00. Following the completion of the transaction, the vice president now directly owns 13,061 shares of the company’s stock, valued at $647,825.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.90% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. BT Investment Management Ltd bought a new stake in shares of Materion Corporation during the third quarter worth approximately $1,005,000. Crossmark Global Holdings Inc. bought a new stake in shares of Materion Corporation during the third quarter worth approximately $266,000. Phocas Financial Corp. raised its stake 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 worth $10,075,000 after buying an additional 12,022 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake 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 worth $580,000 after buying an additional 58 shares during the last quarter. Finally, State Street Corp raised its stake 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 worth $25,167,000 after buying an additional 26,973 shares during the last quarter. 90.79% of the stock is owned by institutional investors and hedge funds.
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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