Materion (NYSE:MTRN) Issues FY24 Earnings Guidance

Materion (NYSE:MTRN) updated its FY24 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $5.60-5.90 for the period, compared to the consensus estimate of $5.80.

Analyst Ratings Changes

A number of research firms have recently weighed in on MTRN. KeyCorp reduced their price target on shares of Materion from $156.00 to $152.00 and set an overweight rating on the stock in a research report on Friday, May 10th. StockNews.com downgraded Materion from a hold rating to a sell rating in a research report on Wednesday, July 31st.

Materion Trading Down 3.7 %

MTRN traded down $3.97 during trading on Monday, reaching $103.51. 131,531 shares of the company’s stock were exchanged, compared to its average volume of 102,071. The stock has a market capitalization of $2.15 billion, a PE ratio of 25.94 and a beta of 1.19. The firm has a fifty day moving average price of $110.99 and a two-hundred day moving average price of $119.16. The company has a current ratio of 2.91, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50. Materion has a one year low of $92.23 and a one year high of $145.08.

Materion Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Thursday, May 23rd were issued a dividend of $0.135 per share. This is an increase from Materion’s previous quarterly dividend of $0.13. This represents a $0.54 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date was Wednesday, May 22nd. Materion’s dividend payout ratio (DPR) is presently 13.53%.

Insider Transactions at Materion

In other news, Director Emily M. Liggett sold 1,152 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $111.86, for a total transaction of $128,862.72. Following the transaction, the director now owns 2,621 shares in the company, valued at $293,185.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Materion news, Director Emily M. Liggett sold 1,152 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $111.86, for a total transaction of $128,862.72. Following the completion of the sale, the director now owns 2,621 shares in the company, valued at approximately $293,185.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Gregory R. Chemnitz sold 2,000 shares of the company’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $113.31, for a total transaction of $226,620.00. Following the completion of the sale, the vice president now owns 18,031 shares in the company, valued at approximately $2,043,092.61. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.

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.