Jefferies Group Reaffirms “Hold” Rating for Materion (MTRN)
Jefferies Group restated their hold rating on shares of Materion (NYSE:MTRN) in a research note released on Tuesday morning. The firm currently has a $46.00 price objective on the basic materials company’s stock. Jefferies Group also issued estimates for Materion’s FY2018 earnings at $1.98 EPS and FY2019 earnings at $2.25 EPS.
Other equities analysts have also recently issued reports about the company. BidaskClub upgraded Materion from a hold rating to a buy rating in a report on Tuesday, October 31st. ValuEngine cut Materion from a buy rating to a hold rating in a report on Friday, December 1st. KeyCorp reiterated a hold rating on shares of Materion in a report on Monday, November 13th. Finally, Zacks Investment Research upgraded 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. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Materion has a consensus rating of Hold and a consensus price target of $51.00.
Materion (NYSE MTRN) traded down $0.25 during midday trading on Tuesday, hitting $52.70. The stock had a trading volume of 90,404 shares, compared to its average volume of 129,408. The stock has a market cap of $1,060.00, a PE ratio of 40.54 and a beta of 1.09. The company has a current ratio of 3.42, a quick ratio of 1.48 and a debt-to-equity ratio of 0.01. Materion has a fifty-two week low of $31.05 and a fifty-two week high of $53.65.
Materion (NYSE:MTRN) last released its quarterly earnings results on Thursday, October 26th. The basic materials company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.10. The business had revenue of $294.27 million during the quarter, compared to analysts’ expectations of $290.96 million. Materion had a return on equity of 6.08% and a net margin of 2.48%. The company’s revenue was up 17.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.46 EPS. analysts expect that Materion will post 1.6 EPS for the current fiscal year.
In related news, VP Gregory R. Chemnitz sold 4,000 shares of the stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $50.16, for a total transaction of $200,640.00. Following the transaction, the vice president now owns 13,245 shares of the company’s stock, valued at approximately $664,369.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Gregory R. Chemnitz sold 3,000 shares of the stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $49.60, for a total value of $148,800.00. Following the transaction, the vice president now directly owns 13,061 shares in the company, valued at approximately $647,825.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,470 shares of company stock worth $2,420,896. 2.90% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of MTRN. Schwab Charles Investment Management Inc. lifted its stake in Materion by 3.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 183,902 shares of the basic materials company’s stock worth $6,878,000 after acquiring an additional 5,297 shares in the last quarter. Legal & General Group Plc lifted its stake in Materion by 9.1% during the 2nd quarter. Legal & General Group Plc now owns 37,392 shares of the basic materials company’s stock worth $1,399,000 after acquiring an additional 3,128 shares in the last quarter. BNP Paribas Arbitrage SA lifted its stake in Materion by 37.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,657 shares of the basic materials company’s stock worth $286,000 after acquiring an additional 2,095 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Materion by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 4,458 shares of the basic materials company’s stock worth $167,000 after acquiring an additional 669 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in Materion by 0.8% during the 2nd quarter. Wells Fargo & Company MN now owns 86,859 shares of the basic materials company’s stock worth $3,248,000 after acquiring an additional 700 shares in the last quarter. 89.99% of the stock is currently owned by hedge funds and other institutional investors.
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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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