Materion (NYSE:MTRN) Raised to Strong-Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Materion (NYSE:MTRN) from a hold rating to a strong-buy rating in a research report released on Wednesday, Zacks.com reports. They currently have $73.00 price target on the basic materials company’s stock.

According to Zacks, “Materion Corporation, formerly known as Brush Engineered Materials Inc., through its wholly-owned subsidiaries is engaged in the production and supply of high-performance engineered materials in the United States and internationally. Products offered by the Company comprise precious and non-precious specialty metals, inorganic chemicals and powders, specialty coatings, specialty engineered beryllium alloys, beryllium and beryllium composites, and engineered clad and plated metal systems. Materion Corporation is headquartered in Mayfield Heights, Ohio. “

Separately, ValuEngine downgraded shares of Materion from a buy rating to a hold rating in a research note on Tuesday, July 9th.

NYSE:MTRN traded down $2.19 during trading hours on Wednesday, reaching $59.24. The company’s stock had a trading volume of 117,979 shares, compared to its average volume of 159,103. The stock has a market cap of $1.25 billion, a P/E ratio of 24.89 and a beta of 0.89. Materion has a 12 month low of $42.50 and a 12 month high of $71.97. The company has a quick ratio of 1.93, a current ratio of 3.63 and a debt-to-equity ratio of 0.07. The firm has a 50 day simple moving average of $64.58.

Materion (NYSE:MTRN) last issued its quarterly earnings data on Thursday, July 25th. The basic materials company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.09. The company had revenue of $297.84 million during the quarter, compared to the consensus estimate of $306.43 million. Materion had a net margin of 2.64% and a return on equity of 11.08%. Materion’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.54 earnings per share. On average, analysts expect that Materion will post 3.29 EPS for the current fiscal year.

In other Materion news, Director Vinod M. Khilnani sold 1,855 shares of Materion stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $65.84, for a total value of $122,133.20. Following the transaction, the director now directly owns 16,466 shares of the company’s stock, valued at $1,084,121.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Craig S. Shular sold 4,127 shares of Materion stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $63.08, for a total transaction of $260,331.16. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hillsdale Investment Management Inc. purchased a new stake in shares of Materion in the 2nd quarter valued at approximately $2,746,000. Swiss National Bank grew its stake in shares of Materion by 2.2% in the 2nd quarter. Swiss National Bank now owns 37,700 shares of the basic materials company’s stock valued at $2,556,000 after buying an additional 800 shares during the period. Envestnet Asset Management Inc. purchased a new stake in shares of Materion in the 2nd quarter valued at approximately $248,000. Advisor Group Inc. grew its stake in shares of Materion by 116.6% in the 2nd quarter. Advisor Group Inc. now owns 3,230 shares of the basic materials company’s stock valued at $220,000 after buying an additional 1,739 shares during the period. Finally, Fisher Asset Management LLC grew its stake in shares of Materion by 89.1% in the 2nd quarter. Fisher Asset Management LLC now owns 145,777 shares of the basic materials company’s stock valued at $9,885,000 after buying an additional 68,684 shares during the period. 92.08% of the stock is currently owned by institutional investors and hedge funds.

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 in four segments: Performance Alloys and Composites, Advanced Materials, Precision Coatings, and Other.

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