Materion (NYSE:MTRN) Receives New Coverage from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Materion (NYSE:MTRN – Get Rating) in a report released on Thursday. The firm set a “hold” rating on the basic materials company’s stock.

Separately, KeyCorp lifted their price target on shares of Materion from $92.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, February 17th.

Materion Trading Down 1.2 %

NYSE MTRN traded down $1.33 during mid-day trading on Thursday, reaching $105.26. 470,088 shares of the stock were exchanged, compared to its average volume of 153,039. Materion has a one year low of $64.89 and a one year high of $118.20. The stock has a 50 day simple moving average of $99.16 and a 200-day simple moving average of $87.89. The stock has a market cap of $2.16 billion, a P/E ratio of 25.43 and a beta of 1.08. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.89 and a quick ratio of 1.12.

Materion (NYSE:MTRN – Get Rating) last posted its quarterly earnings results on Thursday, February 16th. The basic materials company reported $1.49 earnings per share 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 firm had revenue of $434.60 million during the quarter, compared to the consensus estimate of $439.40 million. During the same period in the previous year, the firm posted $1.13 earnings per share. The business’s revenue was up 9.4% compared to the same quarter last year. On average, analysts anticipate that Materion will post 5.71 EPS for the current year.

Insider Activity

In other news, VP Gregory R. Chemnitz sold 577 shares of Materion stock in a transaction dated 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 transaction, the vice president now directly owns 18,783 shares in the company, valued at $2,066,130. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Gregory R. Chemnitz sold 577 shares of Materion stock in a transaction dated 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 transaction, the vice president now directly owns 18,783 shares in the company, valued at $2,066,130. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Gregory R. Chemnitz sold 2,423 shares of Materion stock in a transaction dated Thursday, February 23rd. The shares were sold at an average price of $110.00, for a total transaction of $266,530.00. Following the transaction, the vice president now owns 19,360 shares of the company’s stock, valued at $2,129,600. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Whittier Trust Co. purchased a new position in Materion during the third quarter worth about $40,000. Huntington National Bank boosted its holdings in Materion by 100,000.0% during the third quarter. Huntington National Bank now owns 1,001 shares of the basic materials company’s stock worth $80,000 after purchasing an additional 1,000 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in Materion during the second quarter worth about $111,000. UBS Group AG boosted its holdings in Materion by 23.7% during the third quarter. UBS Group AG now owns 1,433 shares of the basic materials company’s stock worth $115,000 after purchasing an additional 275 shares during the last quarter. Finally, Ellevest Inc. boosted its holdings in Materion by 30.4% during the third quarter. Ellevest Inc. now owns 1,536 shares of the basic materials company’s stock worth $123,000 after purchasing an additional 358 shares during the last quarter. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

Materion Company Profile

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Materion Corp. engages in the production of engineered materials used in a variety of electrical, electronic, thermal, and structural applications. It operates through the following business segments: Performance Materials, Electronic Materials, Precision Optics, and Other. The Performance Materials segment provides engineered solutions comprised of beryllium and non-beryllium.