Materion Corporation (MTRN) Downgraded by BidaskClub
Materion Corporation (NYSE:MTRN) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.
MTRN has been the topic of a number of other research reports. Zacks Investment Research raised shares of Materion Corporation from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a report on Friday, June 16th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $34.00 price target on shares of Materion Corporation in a report on Friday, July 7th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $36.67.
Materion Corporation (NYSE MTRN) traded up 0.68% during trading on Friday, hitting $37.25. The stock had a trading volume of 33,840 shares. The firm has a 50 day moving average price of $37.93 and a 200-day moving average price of $35.99. The firm has a market capitalization of $746.42 million, a PE ratio of 30.06 and a beta of 1.16. Materion Corporation has a 1-year low of $27.99 and a 1-year high of $41.23.
Materion Corporation (NYSE:MTRN) last posted its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. The company had revenue of $295.80 million for the quarter, compared to analysts’ expectations of $254.28 million. Materion Corporation had a net margin of 2.47% and a return on equity of 5.96%. Materion Corporation’s revenue was up 18.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.31 EPS. On average, equities research analysts expect that Materion Corporation will post $1.52 EPS for the current year.
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In related news, insider Richard J. Hipple sold 2,500 shares of Materion Corporation stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $34.53, for a total value of $86,325.00. Following the completion of the transaction, the insider now directly owns 117,091 shares in the company, valued at approximately $4,043,152.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Gregory R. Chemnitz sold 3,000 shares of Materion Corporation stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $38.29, for a total transaction of $114,870.00. Following the completion of the transaction, the vice president now owns 18,052 shares of the company’s stock, valued at $691,211.08. The disclosure for this sale can be found here. Insiders sold a total of 73,000 shares of company stock valued at $2,609,095 over the last quarter. 2.90% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company raised its position in Materion Corporation by 0.4% in the second quarter. The Manufacturers Life Insurance Company now owns 15,496 shares of the basic materials company’s stock worth $580,000 after buying an additional 58 shares in the last quarter. State Street Corp raised its position in Materion Corporation by 4.2% in the second quarter. State Street Corp now owns 672,956 shares of the basic materials company’s stock worth $25,167,000 after buying an additional 26,973 shares in the last quarter. Numeric Investors LLC raised its position in Materion Corporation by 18.5% in the second quarter. Numeric Investors LLC now owns 146,052 shares of the basic materials company’s stock worth $5,462,000 after buying an additional 22,800 shares in the last quarter. Citadel Advisors LLC raised its position in Materion Corporation by 14.2% in the second quarter. Citadel Advisors LLC now owns 98,561 shares of the basic materials company’s stock worth $3,686,000 after buying an additional 12,236 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Materion Corporation by 1.4% in the second quarter. Vanguard Group Inc. now owns 1,905,636 shares of the basic materials company’s stock worth $71,271,000 after buying an additional 25,885 shares in the last quarter. Institutional investors and hedge funds own 89.04% of the company’s stock.
Materion Corporation Company Profile
Materion Corporation, through its subsidiaries, is an integrated producer of engineered materials used in a range of electrical, electronic, thermal, and structural applications. The Company operates in four segments: Performance Alloys and Composites, Advanced Materials, Precision Coatings, and Other.
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