Materion (NYSE:MTRN) Stock Price Target Cut by KeyCorp

Materion (NYSE:MTRN) had its price objective reduced by stock analysts at KeyCorp from $306.00 to $232.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the basic materials company’s stock. KeyCorp‘s target price suggests a potential upside of 24.54% from the stock’s previous close.

Several other equities research analysts also recently commented on the company. Weiss Ratings downgraded Materion from a “buy (b-)” rating to a “hold (c)” rating in a report on Thursday, October 29th. Jefferies Financial Group started coverage on shares of Materion in a research note on Wednesday, September 2nd. They set a “buy” rating and a $314.00 target price on the stock. Seaport Research Partners upgraded shares of Materion from a “neutral” rating to a “buy” rating and set a $250.00 price target for the company in a research note on Thursday. Wall Street Zen raised shares of Materion from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Zacks Research downgraded shares of Materion from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $273.00.

Materion Stock Up 5.0%

Shares of MTRN traded up $8.82 on Thursday, hitting $186.29. 342,771 shares of the stock traded hands, compared to its average volume of 212,461. The company has a market capitalization of $3.88 billion, a PE ratio of 38.17 and a beta of 1.10. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.29 and a current ratio of 2.94. The business has a 50 day simple moving average of $249.41 and a 200 day simple moving average of $212.83. Materion has a one year low of $110.69 and a one year high of $324.98.

Materion (NYSE:MTRN) last released its quarterly earnings data on Wednesday, November 4th. The basic materials company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.04. Materion had a return on equity of 13.38% and a net margin of 4.29%. The business had revenue of $313.66 million for the quarter, compared to analysts’ expectations of $611.38 million. During the same period in the prior year, the firm posted $1.41 EPS. The firm’s quarterly revenue was up 27.5% on a year-over-year basis. As a group, equities analysts forecast that Materion will post 7.28 earnings per share for the current fiscal year.

Insider Activity at Materion

In other news, Director Vinod Khilnani sold 2,000 shares of the stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $235.16, for a total value of $470,320.00. Following the transaction, the director owned 11,171 shares in the company, valued at $2,626,972.36. This represents a 15.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Emily Liggett sold 1,012 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $232.42, for a total transaction of $235,209.04. Following the completion of the transaction, the director directly owned 3,161 shares in the company, valued at approximately $734,679.62. The trade was a 24.25% decrease in their position. The SEC filing for this sale provides additional information. 2.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. bought a new stake in shares of Materion during the 2nd quarter valued at $1,032,985,000. Aberdeen Group plc raised its holdings in Materion by 499.8% in the 3rd quarter. Aberdeen Group plc now owns 501,749 shares of the basic materials company’s stock worth $135,267,000 after purchasing an additional 418,102 shares during the period. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Materion during the second quarter valued at $132,656,000. Congress Asset Management Co. purchased a new position in Materion during the third quarter valued at $51,835,000. Finally, Bank of America Corp DE bought a new stake in Materion during the second quarter valued at about $51,481,000. Hedge funds and other institutional investors own 93.56% of the company’s stock.

Materion Company Profile

Materion Corporation is an advanced materials company that develops, manufactures and supplies engineered materials for demanding applications. Its product portfolio includes beryllium and beryllium-aluminum alloys, specialty metals, precious-metal and clad materials, thin-film coating materials, optical filters and other precision components.

The company’s materials and products are used in aerospace and defense, semiconductor manufacturing, communications, medical technology, energy, automotive and other industrial markets.