FY2018 EPS Estimates for Materion Corp (MTRN) Lowered by Analyst
Materion Corp (NYSE:MTRN) – Analysts at Jefferies Group dropped their FY2018 earnings estimates for Materion in a report released on Tuesday. Jefferies Group analyst M. Englert now anticipates that the basic materials company will post earnings of $1.98 per share for the year, down from their previous forecast of $2.50. Jefferies Group currently has a “Hold” rating and a $46.00 price target on the stock.
Materion (NYSE:MTRN) last posted its quarterly earnings data on Thursday, October 26th. The basic materials company reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.10. The company had revenue of $294.27 million during the quarter, compared to analysts’ expectations of $290.96 million. Materion had a net margin of 2.48% and a return on equity of 6.08%. The firm’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.46 earnings per share.
Materion (NYSE MTRN) traded down $0.25 during trading hours on Thursday, reaching $52.70. 90,404 shares of the company’s stock were exchanged, compared to its average volume of 129,408. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.42 and a quick ratio of 1.48. The firm has a market capitalization of $1,060.00, a PE ratio of 40.54 and a beta of 1.09. Materion has a 52 week low of $31.05 and a 52 week high of $53.65.
In other news, VP Gregory R. Chemnitz sold 4,000 shares of the company’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $50.16, for a total transaction of $200,640.00. Following the completion of the sale, the vice president now owns 13,245 shares of the company’s stock, valued at $664,369.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Gregory R. Chemnitz sold 3,000 shares of the company’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $49.60, for a total transaction of $148,800.00. Following the sale, the vice president now directly owns 13,061 shares of the company’s stock, valued at approximately $647,825.60. The disclosure for this sale can be found here. Insiders have sold 48,470 shares of company stock valued at $2,420,896 over the last 90 days. 2.90% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. UBS Asset Management Americas Inc. purchased a new stake in shares of Materion during the second quarter worth $280,000. State Street Corp grew its holdings in shares of Materion by 4.2% during 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. BNP Paribas Arbitrage SA grew its holdings in shares of Materion by 52.2% during the third quarter. BNP Paribas Arbitrage SA now owns 11,651 shares of the basic materials company’s stock worth $503,000 after buying an additional 3,994 shares in the last quarter. Macquarie Group Ltd. purchased a new stake in shares of Materion during the third quarter worth $441,000. Finally, Algert Global LLC grew its holdings in shares of Materion by 65.9% during the third quarter. Algert Global LLC now owns 59,198 shares of the basic materials company’s stock worth $2,554,000 after buying an additional 23,512 shares in the last quarter. 89.99% of the stock is owned by institutional investors and hedge funds.
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Materion 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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