Materion (NYSE:MTRN) Sets New 1-Year High - Here's What Happened

Key Points

• Materion Corporation's shares reached a new 52-week high of $132.86, with a last traded price of $132.47 and a trading volume of 47,170 shares.
• Analysts have a mixed outlook for Materion, with one upgrade to buy and two hold ratings, while the consensus price target is set at $117.00.
• The company recently declared a quarterly dividend of $0.14 per share, representing a 0.4% dividend yield and a payout ratio of 70%.

Materion Corporation (NYSE:MTRN - Get Free Report) shares hit a new 52-week high on Monday . The company traded as high as $132.86 and last traded at $132.47, with a volume of 47170 shares traded. The stock had previously closed at $128.85.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MTRN. Zacks Research downgraded shares of Materion from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 6th. Wall Street Zen upgraded Materion from a "hold" rating to a "buy" rating in a report on Saturday. Weiss Ratings restated a "hold (c-)" rating on shares of Materion in a research note on Wednesday, October 8th. Finally, KeyCorp lifted their target price on Materion from $115.00 to $117.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 13th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $117.00.

Materion Stock Performance

The stock has a 50 day moving average of $116.61 and a 200 day moving average of $94.96. 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 market cap of $2.79 billion, a price-to-earnings ratio of 168.10 and a beta of 0.91.

Materion (NYSE:MTRN - Get Free Report) last released its earnings results on Wednesday, March 22nd. The basic materials company reported $1.03 EPS for the quarter. Materion had a net margin of 0.94% and a return on equity of 12.69%. The firm had revenue of $230.20 million for the quarter. As a group, analysts anticipate that Materion Corporation will post 5.5 EPS for the current fiscal year.

Materion Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 22nd were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.4%. Materion's payout ratio is 70.00%.

Insider Buying and Selling

In other news, Director N Mohan Reddy sold 1,155 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $105.45, for a total value of $121,794.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Melissa A. Fashinpaur sold 1,140 shares of the firm's 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 disclosure for this sale can be found here. Insiders sold a total of 5,295 shares of company stock worth $557,392 in the last ninety days. 2.60% of the stock is owned by insiders.

Institutional Trading of Materion

A number of hedge funds have recently added to or reduced their stakes in MTRN. Principal Financial Group Inc. raised its holdings in Materion by 2.3% in the 1st quarter. Principal Financial Group Inc. now owns 103,572 shares of the basic materials company's stock valued at $8,451,000 after buying an additional 2,369 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Materion by 722.2% during the first 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. Dover Advisors LLC acquired a new position in shares of Materion during the second quarter worth $209,000. Intech Investment Management LLC grew its stake in shares of Materion by 67.6% in the first quarter. Intech Investment Management LLC now owns 122,009 shares of the basic materials company's stock worth $9,956,000 after purchasing an additional 49,217 shares during the last quarter. Finally, Teacher Retirement System of Texas acquired a new stake in Materion in the first quarter valued at $248,000. Institutional investors and hedge funds own 93.56% of the company's stock.

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.

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