Materion Corp (NYSE:MTRN) was the target of a large growth in short interest during the month of May. As of May 31st, there was short interest totalling 260,600 shares, a growth of 149.4% from the April 30th total of 104,500 shares. Currently, 1.3% of the shares of the company are sold short. Based on an average trading volume of 123,600 shares, the days-to-cover ratio is currently 2.1 days.
Shares of NYSE:MTRN traded up $2.42 on Monday, hitting $65.11. The company’s stock had a trading volume of 2,341 shares, compared to its average volume of 118,969. Materion has a 12 month low of $42.50 and a 12 month high of $71.97. The firm has a market capitalization of $1.28 billion, a P/E ratio of 27.41 and a beta of 0.90. The company’s 50-day moving average price is $64.15. The company has a quick ratio of 1.61, a current ratio of 3.32 and a debt-to-equity ratio of 0.08.
Materion (NYSE:MTRN) last released its quarterly earnings results on Thursday, May 2nd. The basic materials company reported $0.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.22. Materion had a return on equity of 10.20% and a net margin of 2.25%. The company had revenue of $301.44 million during the quarter, compared to analysts’ expectations of $297.70 million. During the same quarter in the prior year, the business posted $0.51 earnings per share. The company’s revenue for the quarter was down .7% compared to the same quarter last year. On average, equities research analysts expect that Materion will post 3.03 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Monday, May 20th were paid a $0.11 dividend. This is a boost from Materion’s previous quarterly dividend of $0.11. The ex-dividend date was Friday, May 17th. This represents a $0.44 annualized dividend and a dividend yield of 0.68%. Materion’s dividend payout ratio is presently 18.49%.
In related news, Director Vinod M. Khilnani sold 1,855 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $65.84, for a total transaction of $122,133.20. Following the completion of the transaction, the director now directly owns 16,466 shares in the company, valued at approximately $1,084,121.44. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Craig S. Shular sold 4,127 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $63.08, for a total value of $260,331.16. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in the company. First Interstate Bank acquired a new stake in shares of Materion in the first quarter valued at $63,000. Quantamental Technologies LLC acquired a new stake in shares of Materion in the first quarter valued at $75,000. Advisor Group Inc. lifted its holdings in shares of Materion by 642.6% in the fourth quarter. Advisor Group Inc. now owns 2,525 shares of the basic materials company’s stock valued at $113,000 after buying an additional 2,185 shares during the period. Oppenheimer Asset Management Inc. acquired a new stake in shares of Materion in the fourth quarter valued at $131,000. Finally, BerganKDV Wealth Management LLC acquired a new stake in shares of Materion in the first quarter valued at $143,000. 92.10% of the stock is owned by institutional investors.
A number of brokerages recently commented on MTRN. Zacks Investment Research upgraded Materion from a “hold” rating to a “strong-buy” rating and set a $81.00 price objective for the company in a research note on Tuesday, May 7th. ValuEngine raised Materion from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd.
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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 in four segments: Performance Alloys and Composites, Advanced Materials, Precision Coatings, and Other.
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