Materion (NYSE:MTRN) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Materion (NYSE:MTRN) from a hold rating to a buy rating in a research report report published on Saturday morning.

Several other research analysts also recently weighed in on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Materion in a research note on Wednesday, October 8th. KeyCorp increased their price objective on shares of Materion from $115.00 to $117.00 and gave the company an “overweight” rating in a research note on Wednesday, August 13th. Finally, Zacks Research downgraded shares of Materion from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Materion currently has a consensus rating of “Hold” and a consensus price target of $117.00.

Materion Price Performance

Shares of MTRN stock opened at $128.93 on Friday. The company has a market capitalization of $2.67 billion, a PE ratio of 161.16 and a beta of 0.91. The firm has a fifty day simple moving average of $116.61 and a 200-day simple moving average of $94.82. The company has a current ratio of 3.17, a quick ratio of 1.25 and a debt-to-equity ratio of 0.46. Materion has a twelve month low of $69.10 and a twelve month high of $131.95.

Materion (NYSE:MTRN) last announced its earnings results on Wednesday, March 22nd. The basic materials company reported $1.03 earnings per share for the quarter. The business had revenue of $230.20 million during the quarter. Materion had a net margin of 0.94% and a return on equity of 12.69%. Equities research analysts anticipate that Materion will post 5.5 earnings per share for the current fiscal year.

Materion Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 22nd were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Friday, August 22nd. Materion’s dividend payout ratio is 70.00%.

Insiders Place Their Bets

In other Materion news, VP Gregory R. Chemnitz sold 3,000 shares of the stock in a transaction on Monday, August 4th. The shares were sold at an average price of $105.17, for a total transaction of $315,510.00. Following the sale, the vice president directly owned 10,376 shares of the company’s stock, valued at approximately $1,091,243.92. This represents a 22.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director N Mohan Reddy sold 1,155 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $105.45, for a total transaction of $121,794.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,295 shares of company stock valued at $557,392. Company insiders own 2.60% of the company’s stock.

Institutional Trading of Materion

A number of institutional investors and hedge funds have recently modified their holdings of MTRN. EverSource Wealth Advisors LLC raised its holdings in shares of Materion by 182.9% during the second quarter. EverSource Wealth Advisors LLC now owns 348 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 225 shares during the period. Jones Financial Companies Lllp acquired a new stake in shares of Materion during the first quarter worth $34,000. First Horizon Advisors Inc. raised its holdings in shares of Materion by 25.3% during the second quarter. First Horizon Advisors Inc. now owns 585 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 118 shares during the period. Elevation Point Wealth Partners LLC acquired a new stake in shares of Materion during the second quarter worth $50,000. Finally, TD Waterhouse Canada Inc. acquired a new stake in shares of Materion in the 2nd quarter worth about $53,000. 93.56% of the stock is owned by institutional investors and hedge funds.

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.