Materion (NYSE:MTRN) Sets New 12-Month High - Here's What Happened

Key Points

• Materion Corporation's stock reached a new 12-month high of $130.00 before closing at $123.53, with a trading volume of 3,455 shares.
• Wall Street analysts have varying ratings on Materion, with KeyCorp maintaining an "overweight" rating and an increased price target of $117.00, while Zacks and Wall Street Zen downgraded the stock to a "hold" rating.
• The company reported a quarterly earnings per share (EPS) of $1.03, alongside a recent quarterly dividend of $0.14 per share, representing a 0.5% dividend yield.

Materion Corporation (NYSE:MTRN - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $130.00 and last traded at $123.53, with a volume of 3455 shares trading hands. The stock had previously closed at $125.42.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on MTRN shares. KeyCorp boosted their price objective on shares of Materion from $115.00 to $117.00 and gave the company an "overweight" rating in a research report on Wednesday, August 13th. Zacks Research cut shares of Materion from a "strong-buy" rating to a "hold" rating in a report on Monday, October 6th. Weiss Ratings restated a "hold (c-)" rating on shares of Materion in a report on Wednesday, October 8th. Finally, Wall Street Zen cut shares of Materion from a "buy" rating to a "hold" rating in a report on Friday, September 26th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $117.00.

Materion Stock Down 1.0%

The business has a 50-day moving average price of $115.02 and a 200-day moving average price of $93.62. The company has a current ratio of 3.17, a quick ratio of 1.25 and a debt-to-equity ratio of 0.46. The stock has a market cap of $2.57 billion, a PE ratio of 154.41 and a beta of 0.91.

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

Materion Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 22nd were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Friday, August 22nd. Materion's dividend payout ratio (DPR) is presently 70.00%.

Insider Buying and Selling

In related news, VP Gregory R. Chemnitz sold 3,000 shares of the firm's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $105.17, for a total transaction of $315,510.00. Following the completion of the sale, the vice president directly owned 10,376 shares of the company's stock, valued at approximately $1,091,243.92. This trade represents a 22.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Melissa A. Fashinpaur sold 1,140 shares of the firm's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $105.34, for a total value of $120,087.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,295 shares of company stock valued at $557,392. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Materion

Institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. grew its position 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 acquiring an additional 2,369 shares in the last quarter. GAMMA Investing LLC grew its position 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 worth $175,000 after buying an additional 1,885 shares in the last quarter. Dover Advisors LLC acquired a new position in shares of Materion during the second quarter worth about $209,000. Intech Investment Management LLC grew its position in shares of Materion by 67.6% during the first quarter. Intech Investment Management LLC now owns 122,009 shares of the basic materials company's stock worth $9,956,000 after buying an additional 49,217 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Materion during the first quarter worth about $714,000. 93.56% of the stock is owned by institutional investors and hedge funds.

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.

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