Materion Co. to Post Q1 2024 Earnings of $1.61 Per Share, Seaport Res Ptn Forecasts (NYSE:MTRN)

Materion Co. (NYSE:MTRN) – Research analysts at Seaport Res Ptn lowered their Q1 2024 earnings per share (EPS) estimates for Materion in a note issued to investors on Wednesday, November 1st. Seaport Res Ptn analyst M. Harrison now anticipates that the basic materials company will post earnings of $1.61 per share for the quarter, down from their previous forecast of $1.64. The consensus estimate for Materion’s current full-year earnings is $5.68 per share. Seaport Res Ptn also issued estimates for Materion’s Q2 2024 earnings at $1.64 EPS.

Several other brokerages also recently commented on MTRN. StockNews.com initiated coverage on shares of Materion in a research report on Thursday, October 5th. They set a “hold” rating on the stock. KeyCorp lowered their price objective on Materion from $133.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, October 6th.

Materion Trading Up 0.5 %

Shares of Materion stock opened at $106.09 on Thursday. Materion has a 1-year low of $64.89 and a 1-year high of $123.41. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.99 and a quick ratio of 1.04. The stock has a market capitalization of $2.19 billion, a PE ratio of 22.48 and a beta of 1.11. The company’s fifty day simple moving average is $101.50 and its 200-day simple moving average is $106.81.

Materion (NYSE:MTRN) last posted its quarterly earnings data on Wednesday, August 2nd. The basic materials company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.02. Materion had a return on equity of 13.92% and a net margin of 5.77%. The company had revenue of $398.60 million during the quarter, compared to analysts’ expectations of $451.22 million. During the same quarter in the prior year, the business earned $1.28 earnings per share. Materion’s revenue for the quarter was down 10.5% compared to the same quarter last year.

Materion Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Thursday, November 16th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date is Wednesday, November 15th. Materion’s payout ratio is currently 11.02%.

Insider Activity

In related news, VP Gregory R. Chemnitz sold 320 shares of Materion stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $107.11, for a total value of $34,275.20. Following the completion of the sale, the vice president now directly owns 18,990 shares in the company, valued at $2,034,018.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in MTRN. Cullen Frost Bankers Inc. acquired a new position in shares of Materion during the third quarter worth $191,000. Teacher Retirement System of Texas grew its position in Materion by 22.2% during the 3rd quarter. Teacher Retirement System of Texas now owns 10,187 shares of the basic materials company’s stock worth $1,038,000 after purchasing an additional 1,852 shares during the period. Jennison Associates LLC purchased a new position in Materion during the third quarter valued at approximately $20,614,000. Allspring Global Investments Holdings LLC raised its position in shares of Materion by 772.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 18,556 shares of the basic materials company’s stock worth $1,891,000 after acquiring an additional 16,428 shares during the period. Finally, Inspire Investing LLC boosted its stake in shares of Materion by 10.3% during the 3rd quarter. Inspire Investing LLC now owns 3,028 shares of the basic materials company’s stock worth $309,000 after acquiring an additional 284 shares in the last quarter. 92.46% of the stock is currently owned by hedge funds and other institutional investors.

About Materion

Materion Corporation, through with its subsidiaries, produces advanced engineered materials used in semiconductor, industrial, aerospace and defense, automotive, energy, consumer electronics, and telecom and data center in the United States, Asia, Europe, and internationally. It operates through Performance Materials, Electronic Materials, and Precision Optics segments.