Materion (NYSE:MTRN) Announces Earnings Results, Misses Expectations By $0.02 EPS

Materion (NYSE:MTRN) issued its quarterly earnings results on Wednesday. The basic materials company reported $0.96 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.02), Briefing.com reports. The company had revenue of $385.29 million for the quarter, compared to analyst estimates of $386.84 million. Materion had a return on equity of 13.49% and a net margin of 5.75%. The business’s revenue for the quarter was down 12.9% on a year-over-year basis. During the same period last year, the company posted $1.34 EPS. Materion updated its FY 2024 guidance to 5.600-6.200 EPS and its FY24 guidance to $5.60-6.20 EPS.

Materion Trading Down 2.8 %

Shares of Materion stock traded down $3.18 during trading hours on Thursday, hitting $111.84. The company’s stock had a trading volume of 60,714 shares, compared to its average volume of 97,357. The business has a fifty day moving average of $127.81 and a 200 day moving average of $120.47. Materion has a 1-year low of $92.23 and a 1-year high of $145.08. The company has a quick ratio of 1.05, a current ratio of 2.78 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $2.32 billion, a PE ratio of 25.11 and a beta of 1.17.

Analysts Set New Price Targets

Separately, KeyCorp reduced their target price on Materion from $157.00 to $156.00 and set an “overweight” rating on the stock in a report on Monday, April 1st.

Insider Buying and Selling

In related news, VP Gregory R. Chemnitz sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $133.74, for a total transaction of $401,220.00. Following the sale, the vice president now directly owns 14,510 shares in the company, valued at approximately $1,940,567.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CFO Shelly Marie Chadwick sold 2,000 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $132.60, for a total transaction of $265,200.00. Following the completion of the sale, the chief financial officer now directly owns 13,147 shares in the company, valued at $1,743,292.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Gregory R. Chemnitz sold 3,000 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $133.74, for a total value of $401,220.00. Following the completion of the transaction, the vice president now owns 14,510 shares in the company, valued at approximately $1,940,567.40. The disclosure for this sale can be found here. 2.30% of the stock is owned by corporate insiders.

About Materion

Materion Corporation, together with its subsidiaries, produces advanced engineered materials used in semiconductor, industrial, aerospace and defense, automotive, energy, consumer electronics, and telecom and data center in the United States, Asia, Europe, and internationally. The company operates in four segments: Performance Materials, Electronic Materials, Precision Optics, and Other.