Wall Street analysts expect that Materion Corp (NYSE:MTRN) will announce sales of $313.85 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Materion’s earnings, with the lowest sales estimate coming in at $310.70 million and the highest estimate coming in at $317.00 million. Materion reported sales of $295.84 million in the same quarter last year, which would suggest a positive year over year growth rate of 6.1%. The company is expected to announce its next quarterly earnings results on Thursday, July 26th.
According to Zacks, analysts expect that Materion will report full-year sales of $1.24 billion for the current financial year, with estimates ranging from $1.23 billion to $1.25 billion. For the next year, analysts anticipate that the business will report sales of $1.26 billion per share, with estimates ranging from $1.26 billion to $1.27 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Materion.
Materion (NYSE:MTRN) last announced its earnings results on Thursday, April 26th. The basic materials company reported $0.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.07. The company had revenue of $303.50 million during the quarter, compared to analysts’ expectations of $300.73 million. Materion had a net margin of 1.58% and a return on equity of 7.83%. Materion’s quarterly revenue was up 26.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.29 earnings per share.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Materion from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a research report on Wednesday, March 14th. ValuEngine raised shares of Materion from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 17th. Jefferies Financial Group set a $48.00 target price on shares of Materion and gave the company a “hold” rating in a research report on Thursday, February 15th. Finally, TheStreet raised shares of Materion from a “c+” rating to a “b” rating in a research report on Thursday, April 26th. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $54.00.
In related news, Director Craig S. Shular sold 7,626 shares of the company’s stock in a transaction dated Tuesday, May 8th. The shares were sold at an average price of $53.76, for a total transaction of $409,973.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Gregory R. Chemnitz sold 5,000 shares of the stock in a transaction dated Friday, May 4th. The stock was sold at an average price of $52.02, for a total transaction of $260,100.00. Following the completion of the transaction, the vice president now directly owns 12,576 shares of the company’s stock, valued at approximately $654,203.52. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.
Several hedge funds have recently bought and sold shares of MTRN. Millennium Management LLC lifted its holdings in shares of Materion by 3,128.9% in the fourth quarter. Millennium Management LLC now owns 238,581 shares of the basic materials company’s stock worth $11,595,000 after acquiring an additional 231,192 shares during the last quarter. ACK Asset Management LLC lifted its holdings in shares of Materion by 142.5% in the fourth quarter. ACK Asset Management LLC now owns 310,000 shares of the basic materials company’s stock worth $15,066,000 after acquiring an additional 182,183 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Materion by 4.6% in the fourth quarter. BlackRock Inc. now owns 2,732,251 shares of the basic materials company’s stock worth $132,788,000 after acquiring an additional 119,764 shares during the last quarter. WINTON GROUP Ltd bought a new position in shares of Materion in the fourth quarter worth about $5,490,000. Finally, Wells Fargo & Company MN lifted its holdings in shares of Materion by 113.4% in the first quarter. Wells Fargo & Company MN now owns 210,069 shares of the basic materials company’s stock worth $10,724,000 after acquiring an additional 111,624 shares during the last quarter. 88.84% of the stock is owned by hedge funds and other institutional investors.
Shares of Materion traded up $0.50, reaching $56.35, during trading on Monday, Marketbeat reports. The company’s stock had a trading volume of 80,200 shares, compared to its average volume of 117,953. The stock has a market cap of $1.15 billion, a PE ratio of 32.56 and a beta of 0.99. Materion has a 52 week low of $35.61 and a 52 week high of $57.45. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.58 and a current ratio of 3.48.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 1st. Investors of record on Wednesday, May 16th were given a dividend of $0.105 per share. This is a boost from Materion’s previous quarterly dividend of $0.10. The ex-dividend date was Tuesday, May 15th. This represents a $0.42 annualized dividend and a yield of 0.75%. Materion’s dividend payout ratio is currently 24.42%.
Materion Company Profile
Materion Corporation manufactures and sells advanced engineered materials used in consumer electronics, industrial components, defense, medical, automotive electronics, telecommunications infrastructure, energy, commercial aerospace, science, services, and appliance markets worldwide. The company operates through Performance Alloys and Composites, Advanced Materials, and Precision Coatings segments.
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