Materion (NYSE:MTRN) Releases Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Materion (NYSE:MTRN) released its quarterly earnings results on Wednesday. The basic materials company reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.02), Briefing.com reports. The firm had revenue of $385.29 million during the quarter, compared to analyst estimates of $386.84 million. Materion had a return on equity of 12.32% and a net margin of 5.19%. The business’s revenue was down 12.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.34 EPS. Materion updated its FY 2024 guidance to 5.600-6.200 EPS and its FY24 guidance to $5.60-6.20 EPS.

Materion Price Performance

Shares of MTRN traded down $2.59 during mid-day trading on Friday, reaching $107.23. 212,111 shares of the company’s stock were exchanged, compared to its average volume of 95,799. The company has a quick ratio of 1.05, a current ratio of 2.91 and a debt-to-equity ratio of 0.50. Materion has a 52-week low of $92.23 and a 52-week high of $145.08. The company has a market cap of $2.22 billion, a price-to-earnings ratio of 26.87 and a beta of 1.17. The company has a 50-day simple moving average of $126.87 and a two-hundred day simple moving average of $120.45.

Wall Street Analysts Forecast Growth

Separately, KeyCorp dropped their price target on Materion from $157.00 to $156.00 and set an “overweight” rating for the company in a research report on Monday, April 1st.

Insider Activity at Materion

In other Materion news, CFO Shelly Marie Chadwick sold 2,000 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $132.60, for a total transaction of $265,200.00. Following the completion of the transaction, the chief financial officer now owns 13,147 shares of the company’s stock, valued at $1,743,292.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Gregory R. Chemnitz sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $133.74, for a total transaction of $401,220.00. Following the transaction, the vice president now owns 14,510 shares of the company’s stock, valued at $1,940,567.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Shelly Marie Chadwick sold 2,000 shares of Materion stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $132.60, for a total transaction of $265,200.00. Following the completion of the sale, the chief financial officer now directly owns 13,147 shares of the company’s stock, valued at $1,743,292.20. The disclosure for this sale can be found here. 2.30% of the stock is owned by corporate insiders.

Materion Company Profile

Materion Corporation, together with its subsidiaries, produces advanced engineered materials used in semiconductor, industrial, aerospace and defense, automotive, energy, consumer electronics, and telecom and data center in the United States, Asia, Europe, and internationally. The company operates in four segments: Performance Materials, Electronic Materials, Precision Optics, and Other.