Materion (NYSE:MTRN) Stock Price Breaks Below 200 Day Moving Average – What’s Next?

Materion Corporation (NYSE:MTRN) crossed below its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $212.48 and traded as low as $175.30. Materion shares last traded at $186.2060, with a volume of 806,799 shares.

Key Headlines Impacting Materion

Here are the key news stories impacting Materion this week:

• Positive Sentiment: Net sales rose to $567.3 million from $444.8 million a year earlier, while net income increased to $38.3 million from $25.4 million. Adjusted EPS of $1.93 topped the $1.89 analyst consensus and was up from $1.41 a year ago. Materion Q3 results and outlook
• Positive Sentiment: Management raised its full-year outlook, adding an encouraging signal for expected performance. The earnings-call coverage described growth as broad-based. Earnings call highlights
• Neutral Sentiment: Despite the strong results and raised outlook, MTRN traded lower in the supplied market data. The articles provided do not point to a specific negative announcement explaining the move. Materion Q3 profit rises

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on MTRN shares. Seaport Research Partners raised Materion from a “neutral” rating to a “buy” rating and set a $250.00 price target for the company in a research note on Thursday. Weiss Ratings cut Materion from a “buy (b-)” rating to a “hold (c)” rating in a research report on Thursday, October 29th. Zacks Research lowered Materion from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Jefferies Financial Group began coverage on shares of Materion in a research report on Wednesday, September 2nd. They set a “buy” rating and a $314.00 price target for the company. Finally, KeyCorp raised their price objective on Materion from $237.00 to $306.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $310.00.

Materion Trading Down 18.1%

The stock has a 50 day moving average price of $251.83 and a 200-day moving average price of $212.48. The company has a current ratio of 2.94, a quick ratio of 1.29 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $3.88 billion, a PE ratio of 43.40 and a beta of 1.10.

Materion (NYSE:MTRN) last released its quarterly earnings data on Wednesday, November 4th. The basic materials company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.89 by $0.04. The business had revenue of $313.66 million during the quarter, compared to analyst estimates of $611.38 million. Materion had a net margin of 4.29% and a return on equity of 13.38%. Materion’s quarterly revenue was up 27.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.41 earnings per share. Sell-side analysts expect that Materion Corporation will post 7.04 earnings per share for the current year.

Materion Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Thursday, November 19th will be issued a $0.1450 dividend. This represents a $0.58 annualized dividend and a yield of 0.3%. The ex-dividend date is Thursday, November 19th. Materion’s payout ratio is presently 13.52%.

Insider Buying and Selling

In other news, Director Emily Liggett sold 1,012 shares of Materion stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $232.42, for a total transaction of $235,209.04. Following the transaction, the director owned 3,161 shares in the company, valued at $734,679.62. The trade was a 24.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Shelly Chadwick sold 1,705 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $293.00, for a total value of $499,565.00. Following the completion of the transaction, the chief financial officer owned 15,246 shares in the company, valued at $4,467,078. This represents a 10.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 29,053 shares of company stock valued at $8,301,958. 2.80% of the stock is currently owned by company insiders.

Institutional Trading of Materion

Several institutional investors and hedge funds have recently made changes to their positions in MTRN. Harbor Investment Advisory LLC bought a new stake in Materion during the second quarter valued at $32,000. Polaris Financial Partners acquired a new stake in shares of Materion in the third quarter valued at $36,000. Root Financial Partners LLC acquired a new position in shares of Materion in the 3rd quarter worth approximately $38,000. Allworth Financial LP bought a new position in shares of Materion in the second quarter valued at $52,000. Finally, Compass Wealth Management LLC purchased a new stake in Materion during the third quarter valued at about $67,000. 93.56% of the stock is owned by hedge funds and other institutional investors.

About Materion

Materion Corporation is an advanced materials company that develops, manufactures and supplies engineered materials for demanding applications. Its product portfolio includes beryllium and beryllium-aluminum alloys, specialty metals, precious-metal and clad materials, thin-film coating materials, optical filters and other precision components.

The company’s materials and products are used in aerospace and defense, semiconductor manufacturing, communications, medical technology, energy, automotive and other industrial markets.