Materion Corporation (MTRN) Expected to Announce Quarterly Sales of $287.23 Million
Equities analysts predict that Materion Corporation (NYSE:MTRN) will report $287.23 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Materion Corporation’s earnings. The highest sales estimate is $288.45 million and the lowest is $286.00 million. Materion Corporation reported sales of $249.62 million during the same quarter last year, which would suggest a positive year over year growth rate of 15.1%. The business is expected to announce its next quarterly earnings results on Thursday, October 26th.
On average, analysts expect that Materion Corporation will report full year sales of $287.23 million for the current year, with estimates ranging from $1.09 billion to $1.12 billion. For the next fiscal year, analysts forecast that the business will report sales of $1.16 billion per share, with estimates ranging from $1.14 billion to $1.18 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow Materion Corporation.
Materion Corporation (NYSE:MTRN) last announced its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.02. Materion Corporation had a return on equity of 5.96% and a net margin of 2.47%. The company had revenue of $295.80 million during the quarter, compared to analyst estimates of $254.28 million. During the same quarter last year, the firm posted $0.31 EPS. The firm’s revenue for the quarter was up 18.4% on a year-over-year basis.
A number of research firms have weighed in on MTRN. Zacks Investment Research raised Materion Corporation from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a report on Friday, June 16th. BidaskClub downgraded Materion Corporation from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 10th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $34.00 target price on shares of Materion Corporation in a report on Friday, July 7th.
In other Materion Corporation news, insider Richard J. Hipple sold 5,000 shares of the company’s stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $35.22, for a total value of $176,100.00. Following the completion of the sale, the insider now owns 94,591 shares in the company, valued at $3,331,495.02. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Gregory R. Chemnitz sold 3,000 shares of the company’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $38.29, for a total value of $114,870.00. Following the completion of the sale, the vice president now owns 18,052 shares of the company’s stock, valued at approximately $691,211.08. The disclosure for this sale can be found here. In the last three months, insiders sold 48,000 shares of company stock worth $1,752,120. 2.90% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of MTRN. SG Americas Securities LLC bought a new stake in shares of Materion Corporation during the first quarter worth approximately $115,000. Victory Capital Management Inc. boosted its stake in shares of Materion Corporation by 50.5% in the first quarter. Victory Capital Management Inc. now owns 3,789 shares of the basic materials company’s stock worth $127,000 after buying an additional 1,271 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Materion Corporation by 79.5% in the second quarter. State of Alaska Department of Revenue now owns 3,949 shares of the basic materials company’s stock worth $147,000 after buying an additional 1,749 shares during the last quarter. Mason Street Advisors LLC boosted its stake in shares of Materion Corporation by 7.1% in the first quarter. Mason Street Advisors LLC now owns 4,665 shares of the basic materials company’s stock worth $157,000 after buying an additional 308 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC bought a new stake in shares of Materion Corporation during the first quarter worth approximately $160,000. Institutional investors and hedge funds own 90.80% of the company’s stock.
Shares of Materion Corporation (MTRN) opened at 38.20 on Friday. Materion Corporation has a one year low of $27.99 and a one year high of $41.22. The stock has a market cap of $765.45 million, a price-to-earnings ratio of 30.83 and a beta of 1.16. The company has a 50-day moving average price of $38.05 and a 200 day moving average price of $35.91.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Friday, August 18th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend is Wednesday, August 16th. Materion Corporation’s dividend payout ratio is 32.26%.
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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