Materion Corporation (NYSE:MTRN) Director Richard J. Hipple sold 4,364 shares of the business’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $49.64, for a total transaction of $216,628.96. Following the transaction, the director now directly owns 37,760 shares of the company’s stock, valued at approximately $1,874,406.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Materion Corporation (MTRN) traded up $1.00 during mid-day trading on Monday, reaching $50.45. 44,600 shares of the company traded hands, compared to its average volume of 91,456. The firm has a market capitalization of $1,011.17, a P/E ratio of 33.86 and a beta of 1.11. Materion Corporation has a 1-year low of $31.05 and a 1-year high of $52.10. The company has a quick ratio of 1.48, a current ratio of 3.42 and a debt-to-equity ratio of 0.01.
Materion (NYSE:MTRN) last posted its quarterly earnings data on Thursday, October 26th. The basic materials company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.10. The business had revenue of $294.27 million during the quarter, compared to the consensus estimate of $290.96 million. Materion had a net margin of 2.48% and a return on equity of 6.08%. The company’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.46 earnings per share. sell-side analysts expect that Materion Corporation will post 1.6 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 8th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend is Tuesday, November 7th. Materion’s payout ratio is currently 30.77%.
Several brokerages have recently issued reports on MTRN. Zacks Investment Research raised shares of Materion from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a report on Wednesday, September 27th. KeyCorp reissued a “hold” rating on shares of Materion in a report on Monday, November 13th. BidaskClub downgraded shares of Materion from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 10th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $36.00 price target on shares of Materion in a report on Thursday, October 12th.
Institutional investors have recently modified their holdings of the business. SG Americas Securities LLC bought a new stake in Materion in the third quarter worth about $128,000. State of Alaska Department of Revenue raised its holdings in Materion by 79.5% during the 2nd quarter. State of Alaska Department of Revenue now owns 3,949 shares of the basic materials company’s stock worth $147,000 after buying an additional 1,749 shares during the period. Victory Capital Management Inc. raised its holdings in Materion by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 4,458 shares of the basic materials company’s stock worth $167,000 after buying an additional 669 shares during the period. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Materion during the 3rd quarter worth about $205,000. Finally, PNC Financial Services Group Inc. raised its holdings in Materion by 0.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 5,130 shares of the basic materials company’s stock worth $193,000 after buying an additional 34 shares during the period. Hedge funds and other institutional investors own 87.68% of the company’s stock.
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Materion Company Profile
Materion Corporation, through its subsidiaries, is an integrated producer of engineered materials used in a range of electrical, electronic, thermal, and structural applications. The Company operates in four segments: Performance Alloys and Composites, Advanced Materials, Precision Coatings, and Other.
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