Wall Street Zen Upgrades Materion (NYSE:MTRN) to Buy

Key Points

• Wall Street Zen has upgraded Materion from a "hold" to a "buy" rating, indicating increased confidence in the company's stock.
• KeyCorp has also raised its target price for Materion shares from $115.00 to $117.00, maintaining an "overweight" rating on the stock.
• Materion reported earnings of $1.37 per share for the latest quarter, surpassing expectations and revealing a revenue increase to $431.66 million.

Materion (NYSE:MTRN - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Friday.

Separately, KeyCorp increased their target price on Materion from $115.00 to $117.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 13th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $117.00.

Materion Stock Performance

Shares of NYSE:MTRN traded up $0.35 during trading on Friday, hitting $110.81. 110,427 shares of the company were exchanged, compared to its average volume of 194,680. The company has a market cap of $2.30 billion, a PE ratio of 138.52 and a beta of 0.85. The stock has a 50 day moving average of $96.50 and a 200 day moving average of $87.59. Materion has a 52-week low of $69.10 and a 52-week high of $123.21. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.17 and a quick ratio of 1.25.

Materion (NYSE:MTRN - Get Free Report) last posted its earnings results on Wednesday, July 30th. The basic materials company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.19. The firm had revenue of $431.66 million for the quarter, compared to the consensus estimate of $403.73 million. Materion had a return on equity of 12.69% and a net margin of 0.94%.The business's quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.42 earnings per share. Materion has set its FY 2025 guidance at 5.300-5.700 EPS. As a group, equities research analysts predict that Materion will post 5.5 EPS for the current year.

Insider Buying and Selling

In other Materion news, Director N Mohan Reddy sold 1,155 shares of the firm's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $105.45, for a total transaction of $121,794.75. The transaction was disclosed in a filing with the SEC, which is accessible 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 shares were 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. Over the last quarter, insiders have sold 5,295 shares of company stock worth $557,392. Corporate insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On Materion

A number of large investors have recently added to or reduced their stakes in MTRN. State Street Corp raised its position in Materion by 28.0% during the second quarter. State Street Corp now owns 1,298,956 shares of the basic materials company's stock valued at $103,098,000 after purchasing an additional 283,998 shares in the last quarter. GAMMA Investing LLC raised 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 purchasing an additional 174,853 shares in the last quarter. American Century Companies Inc. raised its position in Materion by 222.3% during the second quarter. American Century Companies Inc. now owns 238,418 shares of the basic materials company's stock valued at $18,923,000 after purchasing an additional 164,433 shares in the last quarter. Nuveen LLC purchased a new stake in Materion during the first quarter valued at about $9,707,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in 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 purchasing 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.