Materion (NYSE:MTRN) Shares Gap Down on Disappointing Earnings

Materion Co. (NYSE:MTRN) shares gapped down prior to trading on Thursday following a dissappointing earnings announcement. The stock had previously closed at $115.02, but opened at $109.10. Materion shares last traded at $109.17, with a volume of 20,343 shares.

The basic materials company reported $0.96 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.02). Materion had a return on equity of 12.40% and a net margin of 5.19%. The company had revenue of $385.29 million for the quarter, compared to analyst estimates of $386.84 million. During the same period last year, the business earned $1.34 earnings per share. The firm’s revenue was down 12.9% on a year-over-year basis.

Analysts Set New Price Targets

Separately, KeyCorp lowered their price target on shares of Materion from $157.00 to $156.00 and set an “overweight” rating on the stock in a report on Monday, April 1st.

Insider Buying and Selling

In other Materion news, CFO Shelly Marie Chadwick sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $132.60, for a total value of $265,200.00. Following the sale, the chief financial officer now directly owns 13,147 shares of the company’s stock, valued at $1,743,292.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Shelly Marie Chadwick sold 2,000 shares of Materion stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $132.60, for a total value of $265,200.00. Following the sale, the chief financial officer now owns 13,147 shares in the company, valued at $1,743,292.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Gregory R. Chemnitz sold 3,000 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $133.74, for a total transaction of $401,220.00. Following the sale, the vice president now directly owns 14,510 shares of the company’s stock, valued at approximately $1,940,567.40. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by insiders.

Institutional Trading of Materion

A number of institutional investors have recently made changes to their positions in the company. CENTRAL TRUST Co boosted its stake in Materion by 529.0% during the 4th quarter. CENTRAL TRUST Co now owns 195 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 164 shares during the last quarter. Quest Partners LLC purchased a new stake in Materion during the 4th quarter valued at about $44,000. SRS Capital Advisors Inc. lifted its stake in Materion by 285.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 428 shares of the basic materials company’s stock worth $56,000 after purchasing an additional 317 shares in the last quarter. Anchor Investment Management LLC acquired a new position in shares of Materion during the 4th quarter worth approximately $137,000. Finally, AdvisorNet Financial Inc grew its position in shares of Materion by 189.6% in the fourth quarter. AdvisorNet Financial Inc now owns 1,222 shares of the basic materials company’s stock valued at $159,000 after purchasing an additional 800 shares in the last quarter. 93.56% of the stock is owned by institutional investors and hedge funds.

Materion Stock Performance

The stock has a market cap of $2.22 billion, a price-to-earnings ratio of 26.74 and a beta of 1.17. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.78 and a quick ratio of 1.05. The firm has a fifty day moving average of $127.36 and a 200 day moving average of $120.39.

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.