Materion Corp (NYSE:MTRN) – Stock analysts at KeyCorp lowered their Q3 2018 EPS estimates for shares of Materion in a report issued on Sunday, August 19th. KeyCorp analyst P. Gibbs now expects that the basic materials company will post earnings of $0.56 per share for the quarter, down from their prior estimate of $0.60. KeyCorp also issued estimates for Materion’s Q2 2019 earnings at $0.63 EPS, Q3 2019 earnings at $0.64 EPS, Q4 2019 earnings at $0.60 EPS and FY2019 earnings at $2.50 EPS.
A number of other equities research analysts have also issued reports on the company. Zacks Investment Research raised Materion from a “hold” rating to a “buy” rating and set a $69.00 price target on the stock in a research report on Tuesday, July 31st. ValuEngine lowered Materion from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 21st. Finally, TheStreet raised Materion from a “c+” rating to a “b” rating in a research report on Thursday, April 26th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $58.50.
MTRN stock opened at $62.60 on Tuesday. The company has a current ratio of 3.48, a quick ratio of 1.69 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of 36.25 and a beta of 0.97. Materion has a 1 year low of $37.25 and a 1 year high of $65.10.
Materion (NYSE:MTRN) last posted its quarterly earnings results on Thursday, July 26th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. The company had revenue of $309.10 million for the quarter, compared to analyst estimates of $311.90 million. Materion had a return on equity of 8.30% and a net margin of 1.88%. Materion’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.42 EPS.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 5th. Shareholders of record on Tuesday, August 21st will be given a $0.105 dividend. This represents a $0.42 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend is Monday, August 20th. Materion’s dividend payout ratio is currently 24.42%.
In other news, VP Gregory R. Chemnitz sold 2,000 shares of the stock in a transaction dated Friday, August 3rd. The stock was 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 in the company, valued at approximately $792,831.13. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Joseph P. Kelley acquired 2,923 shares of the company’s stock in a transaction dated Wednesday, August 8th. The stock was acquired at an average price 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 owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. purchased a new position in shares of Materion in the 2nd quarter valued at about $112,000. SG Americas Securities LLC purchased a new position in shares of Materion in the 1st quarter valued at about $174,000. Cubist Systematic Strategies LLC grew its stake in Materion by 40.9% during the 1st quarter. Cubist Systematic Strategies LLC now owns 3,869 shares of the basic materials company’s stock worth $198,000 after buying an additional 1,124 shares during the last quarter. AMP Capital Investors Ltd purchased a new position in Materion during the 2nd quarter worth approximately $201,000. Finally, GSA Capital Partners LLP purchased a new position in Materion during the 2nd quarter worth approximately $203,000. Institutional investors and hedge funds own 91.38% of the company’s stock.
Materion Company Profile
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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