Zacks Investment Research downgraded shares of Materion Corporation (NYSE:MTRN) from a buy rating to a hold rating in a report issued on Wednesday.

According to Zacks, “Materion Corporation, formerly known as Brush Engineered Materials Inc., through its wholly-owned subsidiaries is engaged in the production and supply of high-performance engineered materials in the United States and internationally. Products offered by the Company comprise precious and non-precious specialty metals, inorganic chemicals and powders, specialty coatings, specialty engineered beryllium alloys, beryllium and beryllium composites, and engineered clad and plated metal systems. Materion Corporation is headquartered in Mayfield Heights, Ohio. “

A number of other equities research analysts have also commented on the stock. BidaskClub upgraded shares of Materion Corporation from a hold rating to a buy rating in a report on Thursday, September 28th. Jefferies Group LLC restated a hold rating and set a $34.00 price objective on shares of Materion Corporation in a report on Friday, July 7th.

Materion Corporation (NYSE:MTRN) traded down 0.35% during trading on Wednesday, hitting $42.85. 55,824 shares of the stock traded hands. The company’s 50 day moving average is $39.90 and its 200 day moving average is $37.04. The company has a market capitalization of $858.63 million, a P/E ratio of 34.58 and a beta of 1.14. Materion Corporation has a one year low of $28.50 and a one year high of $44.80.

Materion Corporation (NYSE:MTRN) last issued its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. Materion Corporation had a net margin of 2.47% and a return on equity of 5.96%. The business had revenue of $295.80 million for the quarter, compared to analyst estimates of $254.28 million. During the same period last year, the business posted $0.31 earnings per share. The firm’s quarterly revenue was up 18.4% on a year-over-year basis. On average, equities analysts forecast that Materion Corporation will post $1.52 EPS for the current fiscal year.

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In related news, VP Gregory R. Chemnitz sold 3,000 shares of the firm’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $38.29, for a total transaction of $114,870.00. Following the sale, the vice president now directly owns 18,052 shares in the company, valued at $691,211.08. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.90% of the company’s stock.

Several large investors have recently modified their holdings of the stock. BlackRock Inc. raised its holdings in shares of Materion Corporation by 12,689.6% during the first quarter. BlackRock Inc. now owns 2,645,014 shares of the basic materials company’s stock worth $88,740,000 after acquiring an additional 2,624,333 shares during the period. Vanguard Group Inc. raised its holdings in shares of Materion Corporation by 1.4% during the second quarter. Vanguard Group Inc. now owns 1,905,636 shares of the basic materials company’s stock worth $71,271,000 after acquiring an additional 25,885 shares during the period. Northern Trust Corp raised its holdings in shares of Materion Corporation by 3.9% during the second quarter. Northern Trust Corp now owns 926,420 shares of the basic materials company’s stock worth $34,648,000 after acquiring an additional 34,481 shares during the period. State Street Corp raised its holdings 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 acquiring an additional 26,973 shares during the period. Finally, Ameriprise Financial Inc. raised its holdings in shares of Materion Corporation by 3.5% during the second quarter. Ameriprise Financial Inc. now owns 672,553 shares of the basic materials company’s stock worth $25,153,000 after acquiring an additional 22,566 shares during the period. Institutional investors and hedge funds own 90.81% of the company’s stock.

Materion Corporation Company Profile

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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