Materion (NYSE:MTRN) Stock Price Up 6.6% - Should You Buy?

Materion Corporation (NYSE:MTRN - Get Free Report) rose 6.6% on Friday . The stock traded as high as $95.96 and last traded at $94.48. Approximately 29,603 shares were traded during trading, a decline of 74% from the average daily volume of 115,404 shares. The stock had previously closed at $88.63.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on MTRN shares. Wall Street Zen upgraded Materion from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. KeyCorp upgraded Materion from a "sector weight" rating to an "overweight" rating and set a $112.00 price objective on the stock in a research note on Friday.

Materion Stock Performance

The company has a 50-day moving average price of $80.32 and a two-hundred day moving average price of $86.38. The stock has a market capitalization of $1.96 billion, a P/E ratio of 188.10 and a beta of 0.80. The company has a quick ratio of 1.20, a current ratio of 2.84 and a debt-to-equity ratio of 0.46.

Materion (NYSE:MTRN - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The basic materials company reported $1.13 EPS for the quarter, topping the consensus estimate of $1.12 by $0.01. Materion had a return on equity of 12.83% and a net margin of 0.59%. The company had revenue of $420.33 million during the quarter, compared to analyst estimates of $396.83 million. During the same quarter in the previous year, the firm earned $0.96 earnings per share. Materion's revenue was up 9.1% on a year-over-year basis. Equities analysts expect that Materion Corporation will post 5.5 earnings per share for the current year.

Materion Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 29th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date was Thursday, May 29th. This is an increase from Materion's previous quarterly dividend of $0.14. Materion's dividend payout ratio is currently 112.00%.

Insider Activity at Materion

In related news, VP Gregory R. Chemnitz sold 2,000 shares of the company's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $80.45, for a total transaction of $160,900.00. Following the completion of the transaction, the vice president owned 13,376 shares in the company, valued at $1,076,099.20. This represents a 13.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Materion

Several institutional investors and hedge funds have recently added to or reduced their stakes in MTRN. Capital Research Global Investors lifted its position in Materion by 16.3% during the fourth quarter. Capital Research Global Investors now owns 1,838,484 shares of the basic materials company's stock valued at $181,789,000 after buying an additional 257,637 shares during the period. GAMMA Investing LLC lifted its position in Materion by 66,993.5% during the first quarter. GAMMA Investing LLC now owns 175,114 shares of the basic materials company's stock valued at $14,289,000 after buying an additional 174,853 shares during the period. Nuveen LLC bought a new position in shares of Materion during the first quarter valued at $9,707,000. Raymond James Financial Inc. bought a new position in shares of Materion during the fourth quarter valued at $10,399,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Materion by 41.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 289,106 shares of the basic materials company's stock valued at $23,592,000 after acquiring an additional 84,482 shares in the last quarter. Hedge funds and other institutional investors own 93.56% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.