Shares of Materion Corporation (NYSE:MTRN - Get Free Report) fell 9% on Thursday . The stock traded as low as $85.12 and last traded at $77.95. 82,987 shares changed hands during trading, a decline of 27% from the average session volume of 113,057 shares. The stock had previously closed at $85.65.
Wall Street Analyst Weigh In
Several brokerages have commented on MTRN. Wall Street Zen upgraded shares of Materion from a "hold" rating to a "buy" rating in a research note on Saturday. KeyCorp restated a "sector weight" rating on shares of Materion in a report on Wednesday, May 7th.
Check Out Our Latest Stock Analysis on MTRN
Materion Stock Performance
The firm has a fifty day simple moving average of $79.38 and a 200-day simple moving average of $87.24. The company has a quick ratio of 1.20, a current ratio of 2.84 and a debt-to-equity ratio of 0.46. The company has a market cap of $1.78 billion, a PE ratio of 171.18 and a beta of 0.80.
Materion (NYSE:MTRN - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The basic materials company reported $1.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.12 by $0.01. Materion had a return on equity of 12.83% and a net margin of 0.59%. The firm had revenue of $420.33 million for the quarter, compared to the consensus estimate of $396.83 million. During the same quarter last year, the business posted $0.96 EPS. The firm's quarterly revenue was up 9.1% compared to the same quarter last year. On average, research analysts forecast that Materion Corporation will post 5.5 EPS for the current fiscal year.
Materion Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 29th were paid a dividend of $0.14 per share. The ex-dividend date was Thursday, May 29th. This represents a $0.56 dividend on an annualized basis and a yield of 0.65%. This is a boost from Materion's previous quarterly dividend of $0.14. Materion's dividend payout ratio is currently 112.00%.
Insider Transactions at Materion
In other news, VP Gregory R. Chemnitz sold 2,000 shares of the company's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $80.45, for a total value of $160,900.00. Following the completion of the sale, the vice president directly owned 13,376 shares of the company's stock, valued at approximately $1,076,099.20. This represents a 13.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.60% of the company's stock.
Hedge Funds Weigh In On Materion
Several institutional investors have recently added to or reduced their stakes in the stock. US Bancorp DE grew its stake in shares of Materion by 30.3% in the 4th quarter. US Bancorp DE now owns 1,347 shares of the basic materials company's stock valued at $133,000 after purchasing an additional 313 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Materion by 269.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 436 shares of the basic materials company's stock worth $43,000 after purchasing an additional 318 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Materion by 4.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 264,197 shares of the basic materials company's stock valued at $26,124,000 after buying an additional 11,212 shares during the period. Victory Capital Management Inc. increased its stake in Materion by 8.7% in the 4th quarter. Victory Capital Management Inc. now owns 7,874 shares of the basic materials company's stock valued at $779,000 after buying an additional 627 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Materion during the 4th quarter worth $10,399,000. Institutional investors and hedge funds own 93.56% of the company's stock.
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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