Materion (NYSE:MTRN) PT Lowered to $152.00 at KeyCorp

Materion (NYSE:MTRN) had its price objective reduced by investment analysts at KeyCorp from $156.00 to $152.00 in a report released on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the basic materials company’s stock. KeyCorp’s target price would indicate a potential upside of 32.10% from the stock’s current price.

Materion Price Performance

MTRN stock traded up $2.07 during trading hours on Friday, hitting $115.06. 40,874 shares of the stock traded hands, compared to its average volume of 101,249. The company has a current ratio of 2.91, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50. Materion has a one year low of $92.23 and a one year high of $145.08. The company has a market cap of $2.39 billion, a P/E ratio of 28.66 and a beta of 1.17. The stock has a 50-day simple moving average of $125.12 and a 200 day simple moving average of $120.80.

Materion (NYSE:MTRN) last posted its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $0.96 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.02). Materion had a net margin of 5.19% and a return on equity of 12.32%. The business had revenue of $385.29 million during the quarter, compared to the consensus estimate of $386.84 million. During the same period in the prior year, the company posted $1.34 earnings per share. The firm’s revenue was down 12.9% compared to the same quarter last year. Equities analysts forecast that Materion will post 5.93 earnings per share for the current year.

Insider Activity

In other news, CFO Shelly Marie Chadwick sold 2,000 shares of the stock in a transaction on Thursday, February 22nd. The shares were 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 in the company, valued at $1,743,292.20. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CFO Shelly Marie Chadwick sold 2,000 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $132.60, for a total value of $265,200.00. Following the transaction, the chief financial officer now directly owns 13,147 shares of the company’s stock, valued at approximately $1,743,292.20. The sale 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 firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $133.74, for a total value of $401,220.00. Following the completion of the transaction, the vice president now directly owns 14,510 shares of the company’s stock, valued at $1,940,567.40. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Aurora Investment Counsel grew its position in shares of Materion by 1.2% in the fourth quarter. Aurora Investment Counsel now owns 6,505 shares of the basic materials company’s stock valued at $846,000 after purchasing an additional 80 shares during the last quarter. New York State Common Retirement Fund increased its holdings in shares of Materion by 0.3% during the third quarter. New York State Common Retirement Fund now owns 37,474 shares of the basic materials company’s stock worth $3,819,000 after buying an additional 106 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in shares of Materion by 6.7% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,133 shares of the basic materials company’s stock valued at $278,000 after acquiring an additional 133 shares during the last quarter. CENTRAL TRUST Co boosted its holdings in shares of Materion by 529.0% during the 4th quarter. CENTRAL TRUST Co now owns 195 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 164 shares in the last quarter. Finally, New York State Teachers Retirement System grew its holdings in shares of Materion by 0.7% during the fourth quarter. New York State Teachers Retirement System now owns 35,472 shares of the basic materials company’s stock worth $4,616,000 after purchasing an additional 239 shares during the last quarter. Hedge funds and other institutional investors own 93.56% of the company’s stock.

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.