Materion (NYSE:MTRN) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research cut shares of Materion (NYSE:MTRN) from a hold rating to a sell rating in a research note issued to investors on Wednesday, Zacks.com reports.

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. “

Separately, KeyCorp upped their price objective on shares of Materion from $85.00 to $100.00 and gave the stock an overweight rating in a report on Wednesday, November 3rd.

Shares of NYSE MTRN opened at $89.61 on Wednesday. The company has a current ratio of 3.22, a quick ratio of 1.42 and a debt-to-equity ratio of 0.14. The stock has a 50 day simple moving average of $89.84 and a 200-day simple moving average of $78.51. The company has a market cap of $1.83 billion, a PE ratio of 30.38 and a beta of 1.35. Materion has a 12-month low of $63.88 and a 12-month high of $96.00.

Materion (NYSE:MTRN) last posted its quarterly earnings results on Tuesday, November 2nd. The basic materials company reported $1.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.26. Materion had a return on equity of 10.65% and a net margin of 4.19%. The company had revenue of $388.03 million for the quarter, compared to analysts’ expectations of $370.30 million. During the same quarter in the prior year, the company earned $0.55 earnings per share. Sell-side analysts forecast that Materion will post 3.83 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 3rd. Shareholders of record on Friday, November 12th were paid a $0.12 dividend. The ex-dividend date was Wednesday, November 10th. This represents a $0.48 dividend on an annualized basis and a yield of 0.54%. Materion’s payout ratio is presently 16.27%.

In other Materion news, Director Craig S. Shular sold 1,623 shares of the stock in a transaction on Monday, January 3rd. The shares were sold at an average price of $92.82, for a total value of $150,646.86. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.70% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in MTRN. Ellevest Inc. bought a new stake in shares of Materion during the 3rd quarter worth about $36,000. AdvisorNet Financial Inc acquired a new position in shares of Materion in the 3rd quarter valued at approximately $68,000. William Blair Investment Management LLC acquired a new position in shares of Materion in the 2nd quarter valued at approximately $89,000. Macquarie Group Ltd. increased its position in Materion by 435.0% during the 2nd quarter. Macquarie Group Ltd. now owns 1,605 shares of the basic materials company’s stock worth $121,000 after purchasing an additional 1,305 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new position in Materion during the 2nd quarter worth approximately $130,000. 90.27% of the stock is owned by institutional investors.

Materion Company Profile

Materion Corp. engages in the production of engineered materials used in a variety of electrical, electronic, thermal, and structural applications. The company operates through the following segments: Performance Alloys and Composites, Advanced Materials, Precision Coatings and Other. The Performance Alloys and Composites segment produces strip and bulk form alloy products, strip metal products with clad inlay and overlay metals, beryllium-based metals, beryllium, and aluminum metal matrix composites, in rod, sheet, foil, and a variety of customized forms, beryllium ceramics, and bulk metallic glass material.

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