Materion (NYSE:MTRN) Announces Quarterly Earnings Results

Materion (NYSE:MTRN) issued its quarterly earnings data on Wednesday. The basic materials company reported $0.96 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.02), Briefing.com reports. Materion had a return on equity of 13.49% and a net margin of 5.75%. The company had revenue of $385.29 million during the quarter, compared to analyst estimates of $386.84 million. During the same quarter in the prior year, the company posted $1.34 earnings per share. The business’s revenue was down 12.9% compared to the same quarter last year. Materion updated its FY 2024 guidance to 5.600-6.200 EPS and its FY24 guidance to $5.60-6.20 EPS.

Materion Stock Down 2.7 %

MTRN traded down $3.15 during trading hours on Thursday, hitting $111.87. 66,676 shares of the company’s stock were exchanged, compared to its average volume of 97,444. Materion has a 12-month low of $92.23 and a 12-month high of $145.08. The firm has a 50 day moving average of $127.81 and a 200 day moving average of $120.47. The firm has a market cap of $2.32 billion, a P/E ratio of 25.11 and a beta of 1.17. The company has a current ratio of 2.78, a quick ratio of 1.05 and a debt-to-equity ratio of 0.45.

Insider Buying and Selling

In other Materion news, VP Gregory R. Chemnitz sold 3,000 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $133.74, for a total value of $401,220.00. Following the sale, the vice president now directly owns 14,510 shares of the company’s stock, valued at approximately $1,940,567.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Shelly Marie Chadwick sold 2,000 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $132.60, for a total transaction of $265,200.00. Following the completion of the sale, the chief financial officer now owns 13,147 shares in the company, valued at approximately $1,743,292.20. 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 3,000 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $133.74, for a total transaction of $401,220.00. Following the sale, the vice president now owns 14,510 shares of the company’s stock, valued at approximately $1,940,567.40. The disclosure for this sale can be found here. 2.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, KeyCorp decreased their price objective on shares of Materion from $157.00 to $156.00 and set an “overweight” rating on the stock in a report on Monday, April 1st.

About Materion

Materion Corporation, together 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. The company operates in four segments: Performance Materials, Electronic Materials, Precision Optics, and Other.