Materion (NYSE:MTRN) Hits New 52-Week High at $115.50

Materion Co. (NYSE:MTRNGet Rating)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $115.50 and last traded at $114.95, with a volume of 7274 shares changing hands. The stock had previously closed at $111.68.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. StockNews.com downgraded shares of Materion from a “buy” rating to a “hold” rating in a research report on Saturday, February 25th. KeyCorp increased their price objective on shares of Materion from $92.00 to $130.00 and gave the company an “overweight” rating in a research report on Friday, February 17th.

Materion Stock Performance

The firm’s fifty day moving average price is $94.34 and its 200-day moving average price is $86.67. The company has a current ratio of 2.89, a quick ratio of 1.12 and a debt-to-equity ratio of 0.53. The firm has a market cap of $2.34 billion, a price-to-earnings ratio of 27.54 and a beta of 1.08.

Materion (NYSE:MTRNGet Rating) last issued its earnings results on Thursday, February 16th. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.09. Materion had a net margin of 4.89% and a return on equity of 14.05%. The business had revenue of $434.60 million during the quarter, compared to analysts’ expectations of $439.40 million. During the same quarter in the prior year, the business posted $1.13 EPS. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. Analysts expect that Materion Co. will post 5.71 earnings per share for the current year.

Materion Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 10th. Stockholders of record on Thursday, February 23rd will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 0.44%. The ex-dividend date is Wednesday, February 22nd. Materion’s payout ratio is 12.08%.

Insider Buying and Selling

In related news, VP Gregory R. Chemnitz sold 577 shares of the stock in a transaction on Monday, February 27th. The shares were sold at an average price of $110.00, for a total transaction of $63,470.00. Following the completion of the sale, the vice president now owns 18,783 shares in the company, valued at approximately $2,066,130. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, VP Gregory R. Chemnitz sold 2,423 shares of the stock in a transaction on Thursday, February 23rd. The shares were sold at an average price of $110.00, for a total transaction of $266,530.00. Following the completion of the sale, the vice president now owns 19,360 shares in the company, valued at approximately $2,129,600. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Gregory R. Chemnitz sold 577 shares of the firm’s stock in a transaction on Monday, February 27th. The stock was sold at an average price of $110.00, for a total transaction of $63,470.00. Following the completion of the sale, the vice president now owns 18,783 shares of the company’s stock, valued at approximately $2,066,130. The disclosure for this sale can be found here. 2.10% of the stock is owned by company insiders.

Institutional Trading of Materion

Several hedge funds have recently made changes to their positions in MTRN. State Street Corp lifted its stake in shares of Materion by 21.3% in the 1st quarter. State Street Corp now owns 1,030,733 shares of the basic materials company’s stock worth $88,375,000 after acquiring an additional 181,087 shares during the period. Trigran Investments Inc. lifted its stake in shares of Materion by 55.2% in the 3rd quarter. Trigran Investments Inc. now owns 477,480 shares of the basic materials company’s stock worth $38,198,000 after acquiring an additional 169,770 shares during the period. Norges Bank acquired a new stake in shares of Materion in the 4th quarter worth $14,780,000. Nordea Investment Management AB acquired a new stake in shares of Materion in the 4th quarter worth $8,015,000. Finally, Granahan Investment Management LLC lifted its stake in shares of Materion by 37.9% in the 4th quarter. Granahan Investment Management LLC now owns 239,632 shares of the basic materials company’s stock worth $20,970,000 after acquiring an additional 65,848 shares during the period. Institutional investors and hedge funds own 95.66% of the company’s stock.

Materion Company Profile

(Get Rating)

Materion Corp. engages in the production of engineered materials used in a variety of electrical, electronic, thermal, and structural applications. The company operates through the following segments: Performance Alloys and Composites, Advanced Materials, Precision Coatings and Other. The Performance Alloys and Composites segment produces strip and bulk form alloy products, strip metal products with clad inlay and overlay metals, beryllium-based metals, beryllium, and aluminum metal matrix composites, in rod, sheet, foil, and a variety of customized forms, beryllium ceramics, and bulk metallic glass material.

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