Materion (NYSE:MTRN – Get Free Report) had its price objective boosted by stock analysts at KeyCorp from $128.00 to $130.00 in a report released on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the basic materials company’s stock. KeyCorp’s price target suggests a potential upside of 16.63% from the company’s previous close.
Other research analysts have also recently issued research reports about the company. Seaport Res Ptn reaffirmed a “buy” rating on shares of Materion in a research note on Wednesday, July 5th. CL King upped their target price on Materion from $128.00 to $133.00 in a report on Wednesday, July 5th. Finally, StockNews.com started coverage on Materion in a report on Thursday, October 5th. They set a “hold” rating for the company.
Materion Trading Up 5.0 %
Materion (NYSE:MTRN – Get Free Report) last released its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.02. Materion had a return on equity of 13.98% and a net margin of 6.25%. 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 posted $1.28 earnings per share. The company’s revenue for the quarter was down 10.5% compared to the same quarter last year. Equities analysts predict that Materion will post 5.79 earnings per share for the current year.
Insider Buying and Selling
In related news, VP Gregory R. Chemnitz sold 320 shares of the 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 of the company’s stock, valued at approximately $2,034,018.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.30% of the company’s stock.
Institutional Investors Weigh In On Materion
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Materion by 0.8% during the 1st quarter. BlackRock Inc. now owns 3,414,043 shares of the basic materials company’s stock worth $292,720,000 after purchasing an additional 28,638 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Materion by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 2,310,705 shares of the basic materials company’s stock valued at $184,856,000 after acquiring an additional 39,585 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Materion by 0.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,292,435 shares of the basic materials company’s stock valued at $110,815,000 after acquiring an additional 5,975 shares during the last quarter. State Street Corp increased its holdings in shares of Materion by 21.3% during the 1st quarter. State Street Corp now owns 1,030,733 shares of the basic materials company’s stock valued at $88,375,000 after acquiring an additional 181,087 shares during the last quarter. Finally, Trigran Investments Inc. increased its holdings in shares of Materion by 8.2% during the 2nd quarter. Trigran Investments Inc. now owns 589,160 shares of the basic materials company’s stock valued at $67,282,000 after acquiring an additional 44,487 shares during the last quarter. 92.46% of the stock is owned by hedge funds and other institutional investors.
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.
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