Equities Analysts Set Expectations for Materion Corp’s FY2019 Earnings (MTRN)
Materion Corp (NYSE:MTRN) – Stock analysts at Jefferies Group issued their FY2019 EPS estimates for Materion in a report released on Tuesday. Jefferies Group analyst M. Englert forecasts that the basic materials company will post earnings per share of $2.25 for the year. Jefferies Group has a “Hold” rating and a $46.00 price objective on the stock.
Materion (NYSE:MTRN) last issued its earnings results on Thursday, October 26th. The basic materials company reported $0.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 analysts’ expectations of $290.96 million. During the same quarter last year, the company posted $0.46 earnings per share. The firm’s quarterly revenue was up 17.9% on a year-over-year basis.
MTRN has been the topic of several other reports. BidaskClub upgraded shares of Materion from a “hold” rating to a “buy” rating in a research report on Thursday, September 28th. Zacks Investment Research upgraded shares of Materion from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research report on Wednesday, September 27th. ValuEngine downgraded shares of Materion from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, KeyCorp reiterated a “hold” rating on shares of Materion in a research report on Monday, November 13th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Materion has an average rating of “Hold” and a consensus target price of $51.00.
Shares of Materion (NYSE:MTRN) traded down $0.25 during mid-day trading on Wednesday, reaching $52.70. 90,404 shares of the company traded hands, compared to its average volume of 157,089. Materion has a 52 week low of $31.05 and a 52 week high of $53.65. The company has a quick ratio of 1.48, a current ratio of 3.42 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $1,060.00, a PE ratio of 40.54 and a beta of 1.09.
Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Materion by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 1,905,636 shares of the basic materials company’s stock valued at $71,271,000 after purchasing an additional 25,885 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Materion by 0.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,684,188 shares of the basic materials company’s stock valued at $72,672,000 after purchasing an additional 8,344 shares during the period. Northern Trust Corp raised its position in shares of Materion by 3.9% during the 2nd quarter. Northern Trust Corp now owns 926,420 shares of the basic materials company’s stock valued at $34,648,000 after purchasing an additional 34,481 shares during the period. State Street Corp raised its position in shares of Materion by 4.2% during the 2nd quarter. State Street Corp now owns 672,956 shares of the basic materials company’s stock valued at $25,167,000 after purchasing an additional 26,973 shares during the period. Finally, Ameriprise Financial Inc. raised its position in shares of Materion by 3.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 672,553 shares of the basic materials company’s stock valued at $25,153,000 after purchasing an additional 22,566 shares during the period. Hedge funds and other institutional investors own 89.99% of the company’s stock.
In other news, Director Richard J. Hipple sold 4,364 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 37,760 shares in the company, valued at approximately $1,874,406.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director N Mohan Reddy sold 11,393 shares of the firm’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $50.11, for a total transaction of $570,903.23. The disclosure for this sale can be found here. Insiders sold 48,470 shares of company stock worth $2,420,896 over the last quarter. Insiders own 2.90% of the company’s stock.
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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