Materion (NYSE:MTRN) Shares Cross Below 200-Day Moving Average – Here’s What Happened

Shares of Materion Corporation (NYSE:MTRN) passed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $212.48 and traded as low as $175.30. Materion shares last traded at $186.2060, with a volume of 806,799 shares.

Trending Headlines about Materion

Here are the key news stories impacting Materion this week:

• Positive Sentiment: Net sales rose to $567.3 million from $444.8 million a year earlier, while net income increased to $38.3 million from $25.4 million. Adjusted EPS of $1.93 topped the $1.89 analyst consensus and was up from $1.41 a year ago. Materion Q3 results and outlook
• Positive Sentiment: Management raised its full-year outlook, adding an encouraging signal for expected performance. The earnings-call coverage described growth as broad-based. Earnings call highlights
• Neutral Sentiment: Despite the strong results and raised outlook, MTRN traded lower in the supplied market data. The articles provided do not point to a specific negative announcement explaining the move. Materion Q3 profit rises

Wall Street Analyst Weigh In

A number of research firms have weighed in on MTRN. Weiss Ratings lowered shares of Materion from a “buy (b-)” rating to a “hold (c)” rating in a research report on Thursday, October 29th. Zacks Research cut shares of Materion from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. KeyCorp increased their price objective on Materion from $237.00 to $306.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Wall Street Zen upgraded shares of Materion from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Jefferies Financial Group initiated coverage on shares of Materion in a report on Wednesday, September 2nd. They set a “buy” rating and a $314.00 price objective for the company. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $310.00.

Materion Stock Performance

The company has a quick ratio of 1.29, a current ratio of 2.94 and a debt-to-equity ratio of 0.44. The stock has a market cap of $3.88 billion, a P/E ratio of 43.40 and a beta of 1.10. The stock has a fifty day simple moving average of $251.83 and a 200-day simple moving average of $212.48.

Materion (NYSE:MTRN) last released its quarterly earnings results on Wednesday, November 4th. The basic materials company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.04. The company had revenue of $313.66 million for the quarter, compared to analyst estimates of $611.38 million. Materion had a return on equity of 13.38% and a net margin of 4.29%. Materion’s revenue was up 27.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.41 earnings per share. Equities analysts expect that Materion Corporation will post 7.04 earnings per share for the current fiscal year.

Materion Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Thursday, November 19th will be paid a $0.1450 dividend. This represents a $0.58 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Thursday, November 19th. Materion’s dividend payout ratio is 13.52%.

Insider Activity at Materion

In other Materion news, CFO Shelly Chadwick sold 1,705 shares of Materion stock in a transaction on Friday, August 7th. The stock was sold at an average price of $293.00, for a total value of $499,565.00. Following the completion of the transaction, the chief financial officer directly owned 15,246 shares of the company’s stock, valued at $4,467,078. The trade was a 10.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jugal K. Vijayvargiya sold 24,336 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $291.62, for a total transaction of $7,096,864.32. Following the sale, the chief executive officer owned 116,699 shares in the company, valued at $34,031,762.38. The trade was a 17.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 29,053 shares of company stock worth $8,301,958 in the last quarter. Corporate insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MTRN. BlackRock Inc. bought a new position in shares of Materion in the second quarter worth about $1,032,985,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Materion in the 2nd quarter valued at approximately $1,338,000. Bank of America Corp DE lifted its holdings in shares of Materion by 8.7% during the first quarter. Bank of America Corp DE now owns 118,569 shares of the basic materials company’s stock worth $17,151,000 after purchasing an additional 9,441 shares during the period. Raiffeisen Bank International AG acquired a new stake in Materion in the second quarter valued at $17,982,000. Finally, California State Teachers Retirement System lifted its holdings in Materion by 25.0% during the 1st quarter. California State Teachers Retirement System now owns 24,612 shares of the basic materials company’s stock worth $3,560,000 after buying an additional 4,926 shares during the period. 93.56% of the stock is currently owned by institutional investors and hedge funds.

Materion Company Profile

Materion Corporation is an advanced materials company that develops, manufactures and supplies engineered materials for demanding applications. Its product portfolio includes beryllium and beryllium-aluminum alloys, specialty metals, precious-metal and clad materials, thin-film coating materials, optical filters and other precision components.

The company’s materials and products are used in aerospace and defense, semiconductor manufacturing, communications, medical technology, energy, automotive and other industrial markets.