Materion Corp (NYSE:MTRN) – Investment analysts at Jefferies Group cut their FY2018 earnings per share estimates for shares of Materion in a research note issued on Tuesday. Jefferies Group analyst M. Englert now anticipates that the basic materials company will post earnings of $1.98 per share for the year, down from their prior estimate of $2.50. Jefferies Group currently has a “Hold” rating and a $46.00 target price on the stock.
Several other analysts also recently weighed in on MTRN. Zacks Investment Research downgraded shares of Materion from a “strong-buy” rating to a “hold” rating in a research note on Friday. BidaskClub raised shares of Materion from a “hold” rating to a “buy” rating in a research note on Tuesday, October 31st. ValuEngine downgraded shares of Materion from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, KeyCorp reissued a “hold” rating on shares of Materion in a research note on Monday, November 13th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Materion currently has a consensus rating of “Hold” and a consensus target price of $51.00.
Materion (MTRN) traded down $0.25 during trading on Thursday, reaching $52.70. 90,404 shares of the company’s stock traded hands, compared to its average volume of 129,408. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.42 and a quick ratio of 1.48. The company has a market capitalization of $1,060.00, a P/E ratio of 40.54 and a beta of 1.09. Materion has a 1-year low of $31.05 and a 1-year high of $53.65.
Materion (NYSE:MTRN) last posted its quarterly earnings results on Thursday, October 26th. The basic materials company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.10. The business had revenue of $294.27 million during the quarter, compared to the consensus estimate of $290.96 million. Materion had a net margin of 2.48% and a return on equity of 6.08%. The firm’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.46 earnings per share.
In other news, Director Richard J. Hipple sold 8,000 shares of the company’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $50.00, for a total transaction of $400,000.00. Following the completion of the transaction, the director now directly owns 57,091 shares of the company’s stock, valued at $2,854,550. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director N Mohan Reddy sold 11,393 shares of the company’s stock in a transaction dated 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 valued at $2,420,896 over the last three months. 2.90% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the company. SG Americas Securities LLC bought a new position in shares of Materion during the third quarter valued at about $128,000. Victory Capital Management Inc. raised its stake in shares of Materion by 17.7% during the second quarter. Victory Capital Management Inc. now owns 4,458 shares of the basic materials company’s stock valued at $167,000 after acquiring an additional 669 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Materion during the third quarter valued at about $205,000. PNC Financial Services Group Inc. raised its stake in shares of Materion by 0.7% during the second quarter. PNC Financial Services Group Inc. now owns 5,130 shares of the basic materials company’s stock valued at $193,000 after acquiring an additional 34 shares during the last quarter. Finally, Crossmark Global Holdings Inc. bought a new position in shares of Materion during the third quarter valued at about $266,000. 89.99% of the stock is 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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