Materion Corporation (MTRN) Downgraded to “Buy” at BidaskClub
Materion Corporation (NYSE:MTRN) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Thursday.
Other equities research analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Materion Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, April 26th. Jefferies Group LLC restated a “hold” rating and issued a $34.00 price target on shares of Materion Corporation in a report on Friday, July 7th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $36.67.
Materion Corporation (NYSE:MTRN) traded up 0.26% on Thursday, hitting $38.15. 6,118 shares of the stock were exchanged. The firm has a market cap of $764.45 million, a P/E ratio of 30.79 and a beta of 1.16. Materion Corporation has a 12 month low of $26.89 and a 12 month high of $41.23. The company has a 50-day moving average of $37.79 and a 200 day moving average of $36.04.
Materion Corporation (NYSE:MTRN) last released its earnings results on Thursday, July 27th. The basic materials company reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.02. The firm had revenue of $295.80 million during the quarter, compared to analyst estimates of $254.28 million. Materion Corporation had a net margin of 2.47% and a return on equity of 5.96%. The business’s revenue was up 18.4% on a year-over-year basis. During the same quarter last year, the business earned $0.31 EPS. Equities research analysts expect that Materion Corporation will post $1.51 earnings per share for the current fiscal year.
In other news, Chairman Richard J. Hipple sold 2,500 shares of the company’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $34.33, for a total value of $85,825.00. Following the sale, the chairman now directly owns 109,591 shares of the company’s stock, valued at approximately $3,762,259.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Richard J. Hipple sold 5,000 shares of the company’s stock in a transaction on Friday, May 26th. The shares were sold at an average price of $34.17, for a total transaction of $170,850.00. Following the completion of the sale, the insider now directly owns 114,591 shares in the company, valued at $3,915,574.47. The disclosure for this sale can be found here. In the last ninety days, insiders sold 75,500 shares of company stock worth $2,694,520. Insiders own 2.90% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new position in Materion Corporation during the first quarter valued at about $115,000. Victory Capital Management Inc. boosted its position in Materion Corporation by 50.5% in the first quarter. Victory Capital Management Inc. now owns 3,789 shares of the basic materials company’s stock worth $127,000 after buying an additional 1,271 shares in the last quarter. State of Alaska Department of Revenue boosted its position in Materion Corporation by 79.5% in the second quarter. State of Alaska Department of Revenue now owns 3,949 shares of the basic materials company’s stock worth $147,000 after buying an additional 1,749 shares in the last quarter. Mason Street Advisors LLC boosted its position in Materion Corporation by 7.1% in the first quarter. Mason Street Advisors LLC now owns 4,665 shares of the basic materials company’s stock worth $157,000 after buying an additional 308 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC bought a new position in Materion Corporation during the first quarter worth $160,000. Hedge funds and other institutional investors own 89.08% of the company’s stock.
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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