Materion Corp (NYSE:MTRN) VP Gregory R. Chemnitz sold 2,000 shares of the stock in a transaction dated Friday, August 3rd. The shares were sold at an average price of $63.31, for a total value of $126,620.00. Following the completion of the transaction, the vice president now owns 12,523 shares of the company’s stock, valued at $792,831.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of MTRN traded up $0.40 during mid-day trading on Friday, reaching $63.80. 120,500 shares of the company were exchanged, compared to its average volume of 110,367. Materion Corp has a 52 week low of $37.30 and a 52 week high of $65.10. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of 36.86 and a beta of 0.97. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.48 and a quick ratio of 1.69.
Materion (NYSE:MTRN) last released its earnings results on Thursday, July 26th. The basic materials company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.51 by $0.03. Materion had a return on equity of 8.30% and a net margin of 1.88%. The business had revenue of $309.10 million during the quarter, compared to analysts’ expectations of $311.90 million. During the same quarter last year, the firm posted $0.42 earnings per share. The firm’s revenue was up 4.5% on a year-over-year basis. sell-side analysts anticipate that Materion Corp will post 2.14 EPS for the current year.
A number of equities analysts have recently issued reports on MTRN shares. Zacks Investment Research upgraded Materion from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Wednesday, June 27th. ValuEngine downgraded Materion from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 21st. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $58.50.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. grew its stake in Materion by 4.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 214,293 shares of the basic materials company’s stock valued at $10,940,000 after acquiring an additional 8,347 shares during the period. James Investment Research Inc. acquired a new stake in Materion in the second quarter valued at approximately $1,984,000. Prudential Financial Inc. grew its stake in Materion by 153.6% in the first quarter. Prudential Financial Inc. now owns 157,443 shares of the basic materials company’s stock valued at $8,038,000 after acquiring an additional 95,361 shares during the period. Principal Financial Group Inc. boosted its position in shares of Materion by 2.7% during the first quarter. Principal Financial Group Inc. now owns 154,838 shares of the basic materials company’s stock valued at $7,904,000 after buying an additional 4,000 shares during the last quarter. Finally, KBC Group NV purchased a new position in shares of Materion during the second quarter valued at approximately $321,000. 90.66% of the stock is owned by institutional investors and hedge funds.
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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