Materion (NYSE:MTRN) Trading Down 10.7% – Time to Sell?

Materion Corporation (NYSE:MTRN) shares were down 10.7% during trading on Tuesday . The company traded as low as $214.30 and last traded at $215.9750. Approximately 158,629 shares were traded during trading, a decline of 41% from the average session volume of 270,914 shares. The stock had previously closed at $241.82.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Robert W. Baird began coverage on shares of Materion in a report on Wednesday, April 1st. They set an “outperform” rating for the company. Weiss Ratings raised Materion from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 23rd. Finally, KeyCorp increased their target price on shares of Materion from $223.00 to $237.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 2nd. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Materion currently has a consensus rating of “Moderate Buy” and a consensus target price of $237.00.

Materion Stock Performance

The company’s fifty day simple moving average is $246.61 and its 200 day simple moving average is $189.91. The stock has a market capitalization of $4.19 billion, a P/E ratio of 55.16 and a beta of 1.03. The company has a current ratio of 3.04, a quick ratio of 1.32 and a debt-to-equity ratio of 0.50.

Materion (NYSE:MTRN) last posted its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.03. The company had revenue of $261.79 million during the quarter, compared to analyst estimates of $479.03 million. Materion had a return on equity of 12.45% and a net margin of 3.99%.The firm’s quarterly revenue was up 30.8% on a year-over-year basis. During the same quarter last year, the company earned $1.13 earnings per share. As a group, sell-side analysts forecast that Materion Corporation will post 6.45 earnings per share for the current fiscal year.

Materion Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Thursday, August 20th will be given a dividend of $0.145 per share. The ex-dividend date is Thursday, August 20th. This represents a $0.58 annualized dividend and a dividend yield of 0.3%. Materion’s dividend payout ratio (DPR) is 15.85%.

Hedge Funds Weigh In On Materion

A number of hedge funds and other institutional investors have recently modified their holdings of MTRN. Maseco LLP purchased a new position in shares of Materion during the 4th quarter valued at about $27,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Materion by 182.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 348 shares of the basic materials company’s stock worth $28,000 after acquiring an additional 225 shares during the last quarter. Harbor Investment Advisory LLC purchased a new stake in shares of Materion in the 2nd quarter valued at $32,000. Jones Financial Companies Lllp bought a new position in shares of Materion during the 1st quarter valued at $34,000. Finally, Measured Wealth Private Client Group LLC purchased a new position in Materion in the 3rd quarter worth $35,000. 93.56% of the stock is currently owned by hedge funds and other institutional investors.

About Materion

Materion Corporation (NYSE: MTRN) is a global supplier of advanced materials and precision-engineered solutions. The company develops and manufactures high-performance alloys, engineered clad and composite materials, precision thin film products, and advanced optical and electronic materials. Materion’s offerings address critical performance requirements for industries where material properties such as strength, wear resistance, conductivity and optical clarity are paramount.

Materion’s core businesses include beryllium and beryllium composites for aerospace and defense platforms, nickel- and copper-based specialty alloys for industrial and medical applications, optical coatings and substrates for scientific instrumentation, and electronic materials used in semiconductor production.