Materion Corporation (NYSE:MTRN - Get Free Report)'s share price traded up 9.9% during trading on Wednesday following a stronger than expected earnings report. The company traded as high as $99.41 and last traded at $101.20. 97,504 shares changed hands during mid-day trading, a decline of 31% from the average session volume of 141,513 shares. The stock had previously closed at $92.06.
The basic materials company reported $1.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.18 by $0.19. Materion had a return on equity of 12.69% and a net margin of 0.94%. The company had revenue of $431.66 million during the quarter, compared to analysts' expectations of $403.73 million. During the same quarter in the previous year, the company posted $1.42 earnings per share. The business's revenue was up 1.4% on a year-over-year basis.
Materion Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Thursday, May 29th were issued a dividend of $0.14 per share. This is a boost from Materion's previous quarterly dividend of $0.14. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Thursday, May 29th. Materion's dividend payout ratio is presently 70.00%.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on the company. KeyCorp upgraded Materion from a "sector weight" rating to an "overweight" rating and set a $112.00 price objective for the company in a report on Friday, July 18th. Wall Street Zen cut Materion from a "buy" rating to a "hold" rating in a research note on Saturday.
Get Our Latest Analysis on MTRN
Insider Activity at Materion
In other news, VP Gregory R. Chemnitz sold 2,000 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $80.45, for a total value of $160,900.00. Following the completion of the transaction, the vice president directly owned 13,376 shares in the company, valued at approximately $1,076,099.20. This represents a 13.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.60% of the company's stock.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of MTRN. Jones Financial Companies Lllp bought a new position in shares of Materion in the 1st quarter valued at $34,000. CWM LLC lifted its stake in shares of 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 lifted its stake in shares of 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. AQR Capital Management LLC bought a new position in Materion during the 1st quarter worth $201,000. Finally, Dover Advisors LLC bought a new position in Materion during the 2nd quarter worth $209,000. 93.56% of the stock is currently owned by institutional investors.
Materion Stock Performance
The firm has a market capitalization of $2.18 billion, a P/E ratio of 131.34 and a beta of 0.85. The company has a current ratio of 3.17, a quick ratio of 1.20 and a debt-to-equity ratio of 0.46. The company has a 50-day moving average of $84.56 and a 200-day moving average of $86.31.
About Materion
(
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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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