Zacks Investment Research Downgrades Materion (MTRN) to Hold

Materion (NYSE:MTRN) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Friday.

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. “

Other equities analysts have also recently issued reports about the stock. BidaskClub raised shares of Materion from a “hold” rating to a “buy” rating in a research report on Tuesday, October 31st. Jefferies Group reissued a “hold” rating and issued a $46.00 price objective on shares of Materion in a research report on Tuesday, January 9th. KeyCorp reissued a “hold” rating on shares of Materion in a research report on Monday, November 13th. Finally, ValuEngine cut shares of Materion from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $51.00.

Shares of Materion (NYSE MTRN) traded down $0.25 during trading on Friday, reaching $52.70. 90,400 shares of the company were exchanged, compared to its average volume of 157,089. The company has a current ratio of 3.42, a quick ratio of 1.48 and a debt-to-equity ratio of 0.01. Materion has a 12-month low of $31.05 and a 12-month high of $53.65. The stock has a market cap of $1,056.29, a PE ratio of 40.54 and a beta of 1.09.

Materion (NYSE:MTRN) last announced its quarterly earnings results on Thursday, October 26th. The basic materials company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.10. Materion had a net margin of 2.48% and a return on equity of 6.08%. The firm had revenue of $294.27 million during the quarter, compared to analysts’ expectations of $290.96 million. During the same period in the prior year, the company earned $0.46 EPS. The firm’s revenue was up 17.9% on a year-over-year basis. analysts predict that Materion will post 1.6 earnings per share for the current year.

In other Materion news, VP Gregory R. Chemnitz sold 3,000 shares of the company’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $49.60, for a total value of $148,800.00. Following the completion of the transaction, the vice president now directly owns 13,061 shares of the company’s stock, valued at approximately $647,825.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Gregory R. Chemnitz sold 4,000 shares of the company’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $50.16, for a total transaction of $200,640.00. Following the completion of the transaction, the vice president now directly owns 13,245 shares of the company’s stock, valued at $664,369.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 48,470 shares of company stock valued at $2,420,896. 2.90% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of MTRN. Schwab Charles Investment Management Inc. raised its stake in shares of Materion by 3.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 183,902 shares of the basic materials company’s stock valued at $6,878,000 after purchasing an additional 5,297 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Materion by 9.1% in the 2nd quarter. Legal & General Group Plc now owns 37,392 shares of the basic materials company’s stock valued at $1,399,000 after purchasing an additional 3,128 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in Materion by 37.7% during the second quarter. BNP Paribas Arbitrage SA now owns 7,657 shares of the basic materials company’s stock worth $286,000 after acquiring an additional 2,095 shares during the period. Victory Capital Management Inc. raised its stake in Materion by 17.7% during the second quarter. Victory Capital Management Inc. now owns 4,458 shares of the basic materials company’s stock worth $167,000 after acquiring an additional 669 shares during the period. Finally, Wells Fargo & Company MN raised its stake in Materion by 0.8% during the second quarter. Wells Fargo & Company MN now owns 86,859 shares of the basic materials company’s stock worth $3,248,000 after acquiring an additional 700 shares during the period. Institutional investors and hedge funds own 89.99% 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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