Materion (NYSE:MTRN) Stock Rating Lowered by Wall Street Zen

Key Points

• Materion has been downgraded from a "buy" to a "hold" rating by Wall Street Zen, while KeyCorp upgraded the stock to "overweight" with a price target of $112.00.
• The company reported $1.37 EPS in its latest quarterly earnings, exceeding analysts' expectations, with revenues of $431.66 million, up 1.4% year-over-year.
• Materion shares experienced a slight decline of 0.2%, trading at $105.07 after its recent earnings report.

Wall Street Zen cut shares of Materion (NYSE:MTRN - Free Report) from a buy rating to a hold rating in a report released on Saturday.

Separately, KeyCorp upgraded shares of Materion from a "sector weight" rating to an "overweight" rating and set a $112.00 target price for the company in a report on Friday, July 18th.

Materion Stock Performance

NYSE MTRN traded up $0.96 during midday trading on Friday, hitting $109.52. The company had a trading volume of 92,275 shares, compared to its average volume of 149,209. Materion has a fifty-two week low of $69.10 and a fifty-two week high of $123.21. The stock has a market cap of $2.27 billion, a price-to-earnings ratio of 136.63 and a beta of 0.85. The company has a quick ratio of 1.25, a current ratio of 3.17 and a debt-to-equity ratio of 0.46. The firm has a fifty day simple moving average of $85.72 and a two-hundred day simple moving average of $86.40.

Materion (NYSE:MTRN - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The basic materials company reported $1.37 earnings per share for the quarter, topping analysts' consensus estimates of $1.18 by $0.19. Materion had a net margin of 0.94% and a return on equity of 12.69%. The business had revenue of $431.66 million during the quarter, compared to the consensus estimate of $403.73 million. During the same period in the previous year, the firm posted $1.42 earnings per share. Materion's revenue for the quarter was up 1.4% compared to the same quarter last year. Equities analysts forecast that Materion will post 5.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Melissa A. Fashinpaur sold 1,140 shares of Materion stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $105.34, for a total transaction of $120,087.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Gregory R. Chemnitz sold 3,000 shares of the business's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $105.17, for a total transaction of $315,510.00. Following the sale, the vice president owned 10,376 shares of the company's stock, valued at $1,091,243.92. This trade represents a 22.43% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Jones Financial Companies Lllp bought a new stake in shares of Materion during the 1st quarter valued at about $34,000. First Horizon Advisors Inc. raised its holdings in shares of Materion by 25.3% during the 2nd quarter. First Horizon Advisors Inc. now owns 585 shares of the basic materials company's stock worth $46,000 after acquiring an additional 118 shares in the last quarter. CWM LLC grew its position in Materion by 387.0% in the 2nd quarter. CWM LLC now owns 1,232 shares of the basic materials company's stock valued at $98,000 after acquiring an additional 979 shares during the last quarter. GAMMA Investing LLC grew its position in Materion by 722.2% in the 1st quarter. GAMMA Investing LLC now owns 2,146 shares of the basic materials company's stock valued at $175,000 after acquiring an additional 1,885 shares during the last quarter. Finally, AQR Capital Management LLC bought a new position in Materion in the 1st quarter valued at $201,000. 93.56% of the stock is currently owned by institutional investors.

About Materion

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.