Zacks Investment Research Upgrades Materion Corp. (MTRN) to “Buy”
Materion Corp. (NYSE:MTRN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The firm currently has a $34.00 target price on the stock. Zacks Investment Research’s price objective indicates a potential upside of 13.56% from the stock’s current price.
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. “
A number of other research analysts have also weighed in on MTRN. Jefferies Group reaffirmed a “hold” rating on shares of Materion Corp. in a research note on Saturday. TheStreet raised shares of Materion Corp. from a “hold” rating to a “buy” rating in a research note on Thursday, August 18th.
Materion Corp. (NYSE:MTRN) opened at 29.94 on Wednesday. The stock has a market cap of $597.81 million, a price-to-earnings ratio of 24.15 and a beta of 1.35. The firm’s 50 day moving average price is $29.83 and its 200 day moving average price is $26.91. Materion Corp. has a 12 month low of $20.62 and a 12 month high of $35.21.
Materion Corp. (NYSE:MTRN) last posted its earnings results on Thursday, July 28th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.02. Materion Corp. had a net margin of 2.60% and a return on equity of 5.55%. The business had revenue of $249.80 million for the quarter, compared to analyst estimates of $235.29 million. During the same period in the prior year, the company posted $0.43 EPS. The company’s revenue for the quarter was down 9.8% on a year-over-year basis. On average, equities research analysts predict that Materion Corp. will post $1.34 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Springbok Capital Management LLC increased its stake in Materion Corp. by 221.4% in the first quarter. Springbok Capital Management LLC now owns 4,500 shares of the company’s stock worth $119,000 after buying an additional 3,100 shares during the last quarter. Legal & General Group Plc increased its stake in Materion Corp. by 16.2% in the first quarter. Legal & General Group Plc now owns 4,544 shares of the company’s stock worth $122,000 after buying an additional 632 shares during the last quarter. Paradigm Asset Management Co. LLC increased its stake in Materion Corp. by 11.8% in the second quarter. Paradigm Asset Management Co. LLC now owns 5,700 shares of the company’s stock worth $141,000 after buying an additional 600 shares during the last quarter. Highbridge Capital Management LLC acquired a new stake in Materion Corp. during the second quarter worth approximately $210,000. Finally, BNP Paribas Arbitrage SA increased its stake in Materion Corp. by 103.2% in the second quarter. BNP Paribas Arbitrage SA now owns 8,720 shares of the company’s stock worth $216,000 after buying an additional 4,428 shares during the last quarter. 90.74% of the stock is currently owned by hedge funds and other institutional investors.
Materion Corp. Company Profile
Materion Corporation is a holding company. The Company is an integrated producer of engineered materials used in a range of electrical, electronic, thermal and structural applications. The Company’s products are sold in markets, including consumer electronics, industrial components, medical, automotive electronics, energy, telecommunications infrastructure, defense and commercial aerospace.
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