Materion Corp (NYSE:MTRN) announced a quarterly dividend on Friday, August 3rd, Wall Street Journal reports. Shareholders of record on Tuesday, August 21st will be given a dividend of 0.105 per share by the basic materials company on Wednesday, September 5th. This represents a $0.42 annualized dividend and a yield of 0.68%. The ex-dividend date is Monday, August 20th.
Materion has increased its dividend by an average of 5.6% annually over the last three years and has increased its dividend every year for the last 5 years. Materion has a payout ratio of 19.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Materion to earn $2.45 per share next year, which means the company should continue to be able to cover its $0.42 annual dividend with an expected future payout ratio of 17.1%.
MTRN opened at $61.80 on Friday. The company has a quick ratio of 1.69, a current ratio of 3.48 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 35.93 and a beta of 0.97. Materion has a 1-year low of $36.75 and a 1-year high of $65.10.
Materion (NYSE:MTRN) last posted its quarterly earnings data on Thursday, July 26th. The basic materials company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.03. The firm had revenue of $309.10 million during the quarter, compared to analysts’ expectations of $311.90 million. Materion had a net margin of 1.88% and a return on equity of 8.30%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.42 EPS. equities research analysts forecast that Materion will post 2.13 EPS for the current year.
In other news, VP Gregory R. Chemnitz sold 2,000 shares of the firm’s stock in a transaction dated Friday, August 3rd. The shares were sold at an average price of $63.31, for a total value of $126,620.00. Following the transaction, the vice president now owns 12,523 shares of the company’s stock, valued at approximately $792,831.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Joseph P. Kelley bought 2,923 shares of Materion stock in a transaction dated Wednesday, August 8th. The stock was acquired at an average cost of $63.74 per share, for a total transaction of $186,312.02. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by company insiders.
Several equities research analysts have weighed in on MTRN shares. Zacks Investment Research cut shares of Materion from a “buy” rating to a “hold” rating in a research report on Tuesday, July 10th. TheStreet upgraded shares of Materion from a “c+” rating to a “b” rating in a research report on Thursday, April 26th. Finally, ValuEngine cut shares of Materion from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 21st. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $58.50.
Materion Corporation manufactures and sells advanced engineered materials used in consumer electronics, industrial components, defense, medical, automotive electronics, telecommunications infrastructure, energy, commercial aerospace, science, services, and appliance markets worldwide. The company operates through Performance Alloys and Composites, Advanced Materials, and Precision Coatings segments.
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