Materion Co. (NYSE:MTRN – Free Report) – Equities researchers at KeyCorp dropped their Q3 2023 earnings per share estimates for Materion in a research note issued on Thursday, October 5th. KeyCorp analyst P. Gibbs now forecasts that the basic materials company will post earnings per share of $1.38 for the quarter, down from their previous estimate of $1.41. KeyCorp currently has a “Overweight” rating and a $128.00 price target on the stock. The consensus estimate for Materion’s current full-year earnings is $5.69 per share. KeyCorp also issued estimates for Materion’s FY2023 earnings at $5.61 EPS and FY2024 earnings at $6.50 EPS.
Several other research firms have also commented on MTRN. StockNews.com initiated coverage on Materion in a research report on Thursday. They set a “hold” rating for the company. CL King raised their price target on Materion from $128.00 to $133.00 in a research report on Wednesday, July 5th. Finally, Seaport Res Ptn restated a “buy” rating on shares of Materion in a research report on Wednesday, July 5th.
Materion Trading Up 1.7 %
Shares of Materion stock opened at $97.45 on Monday. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of 20.65 and a beta of 1.10. Materion has a fifty-two week low of $64.89 and a fifty-two week high of $123.41. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.04 and a current ratio of 2.99. The stock has a 50 day moving average of $104.97 and a 200 day moving average of $108.71.
Materion (NYSE:MTRN – Get Free Report) last posted its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.36 by $0.02. The firm had revenue of $398.60 million during the quarter, compared to analysts’ expectations of $451.22 million. Materion had a return on equity of 13.92% and a net margin of 5.77%. The business’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.28 earnings per share.
Institutional Trading of Materion
A number of hedge funds and other institutional investors have recently made changes to their positions in MTRN. State Street Corp increased its position in Materion by 21.3% in the 1st quarter. State Street Corp now owns 1,030,733 shares of the basic materials company’s stock valued at $88,375,000 after acquiring an additional 181,087 shares during the period. Norges Bank acquired a new position in Materion in the 4th quarter valued at about $14,780,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Materion in the 1st quarter valued at about $16,958,000. Goldman Sachs Group Inc. increased its position in Materion by 79.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 134,486 shares of the basic materials company’s stock valued at $9,915,000 after acquiring an additional 59,430 shares during the period. Finally, Polar Asset Management Partners Inc. boosted its holdings in Materion by 100.0% in the 2nd quarter. Polar Asset Management Partners Inc. now owns 115,572 shares of the basic materials company’s stock valued at $13,198,000 after purchasing an additional 57,800 shares in the last quarter. Institutional investors and hedge funds own 92.46% of the company’s stock.
Insider Buying and Selling at Materion
In other Materion news, VP Gregory R. Chemnitz sold 320 shares of the firm’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $107.11, for a total value of $34,275.20. Following the sale, the vice president now directly owns 18,990 shares in the company, valued at $2,034,018.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.30% of the stock is owned by insiders.
Materion Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 7th. Shareholders of record on Friday, August 25th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend was Thursday, August 24th. Materion’s dividend payout ratio is presently 11.02%.
Materion Company Profile
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.
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