Materion Co. Forecasted to Post Q3 2023 Earnings of $1.44 Per Share (NYSE:MTRN)

Posted by Defense World Staff on Aug 14th, 2023

Materion Co. (NYSE:MTRN – Free Report) – Equities researchers at Seaport Res Ptn reduced their Q3 2023 earnings per share (EPS) estimates for shares of Materion in a research note issued on Wednesday, August 9th. Seaport Res Ptn analyst M. Harrison now forecasts that the basic materials company will post earnings per share of $1.44 for the quarter, down from their previous estimate of $1.50. Seaport Res Ptn has a “Buy” rating on the stock. The consensus estimate for Materion’s current full-year earnings is $5.74 per share. Seaport Res Ptn also issued estimates for Materion’s Q4 2023 earnings at $1.56 EPS, FY2023 earnings at $5.71 EPS, Q1 2024 earnings at $1.64 EPS, Q3 2024 earnings at $1.71 EPS, Q4 2024 earnings at $1.74 EPS and FY2024 earnings at $6.75 EPS.

MTRN has been the topic of a number of other research reports. CL King lifted their price objective on Materion from $128.00 to $133.00 in a research note on Wednesday, July 5th. StockNews.com downgraded Materion from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. Finally, KeyCorp boosted their target price on Materion from $131.00 to $133.00 and gave the company an “overweight” rating in a research report on Thursday, August 3rd.

Check Out Our Latest Analysis on Materion

Materion Stock Down 1.7 %

Shares of MTRN opened at $106.52 on Monday. The company has a current ratio of 2.99, a quick ratio of 1.04 and a debt-to-equity ratio of 0.50. Materion has a 12-month low of $64.89 and a 12-month high of $123.41. The business’s 50 day moving average is $112.59 and its 200 day moving average is $108.10. The company has a market capitalization of $2.20 billion, a PE ratio of 22.57 and a beta of 1.08.

Materion (NYSE:MTRN – Get Free Report) last issued its earnings results on Wednesday, August 2nd. The basic materials company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.02. The company had revenue of $398.60 million for the quarter, compared to the consensus estimate of $451.22 million. Materion had a return on equity of 13.92% and a net margin of 5.77%. The firm’s quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter last year, the company earned $1.28 EPS.

Materion Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Friday, August 25th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.49%. The ex-dividend date is Thursday, August 24th. Materion’s dividend payout ratio is 11.02%.

Insiders Place Their Bets

In other Materion news, VP Gregory R. Chemnitz sold 2,378 shares of the company’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $102.05, for a total value of $242,674.90. Following the completion of the sale, the vice president now directly owns 19,310 shares in the company, valued at approximately $1,970,585.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in MTRN. Nordea Investment Management AB acquired a new position in Materion during the 4th quarter valued at about $8,015,000. Bedel Financial Consulting Inc. purchased a new stake in shares of Materion in the first quarter worth about $232,000. Phocas Financial Corp. boosted its stake in shares of Materion by 1.0% in the first quarter. Phocas Financial Corp. now owns 119,948 shares of the basic materials company’s stock worth $13,914,000 after buying an additional 1,212 shares during the last quarter. Ellevest Inc. boosted its stake in shares of Materion by 54.9% in the first quarter. Ellevest Inc. now owns 3,134 shares of the basic materials company’s stock worth $364,000 after buying an additional 1,111 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Materion in the first quarter worth about $16,958,000. 93.24% of the stock is owned by institutional investors.

Materion Company Profile

(Get Free Report)

Materion Corporation, through 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. It operates through Performance Materials, Electronic Materials, and Precision Optics segments.