Materion (NYSE:MTRN) Price Target Lowered to $152.00 at KeyCorp

Materion (NYSE:MTRN) had its price objective dropped by research analysts at KeyCorp from $156.00 to $152.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the basic materials company’s stock. KeyCorp’s price target suggests a potential upside of 32.10% from the company’s current price.

Materion Price Performance

MTRN stock traded up $2.07 during mid-day trading on Friday, reaching $115.06. 40,874 shares of the company’s stock were exchanged, compared to its average volume of 101,249. The stock’s 50 day moving average is $125.12 and its 200 day moving average is $120.80. Materion has a 12-month low of $92.23 and a 12-month high of $145.08. The company has a market cap of $2.39 billion, a price-to-earnings ratio of 28.66 and a beta of 1.17. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.91 and a quick ratio of 1.07.

Materion (NYSE:MTRN) last issued its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $0.96 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.02). Materion had a return on equity of 12.32% and a net margin of 5.19%. The firm had revenue of $385.29 million for the quarter, compared to analysts’ expectations of $386.84 million. During the same quarter in the previous year, the firm posted $1.34 earnings per share. The firm’s revenue for the quarter was down 12.9% compared to the same quarter last year. On average, research analysts expect that Materion will post 5.93 EPS for the current year.

Insider Buying and Selling

In related news, VP Gregory R. Chemnitz sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $133.74, for a total transaction of $401,220.00. Following the transaction, the vice president now owns 14,510 shares of the company’s stock, valued at $1,940,567.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO Shelly Marie Chadwick sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $132.60, for a total value of $265,200.00. Following the sale, the chief financial officer now owns 13,147 shares of the company’s stock, valued at approximately $1,743,292.20. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Gregory R. Chemnitz sold 3,000 shares of Materion stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $133.74, for a total value 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. 2.60% of the stock is owned by insiders.

Institutional Trading of Materion

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MTRN. Vaughan Nelson Investment Management L.P. purchased a new position in Materion in the 4th quarter valued at about $31,311,000. Jennison Associates LLC purchased a new stake in Materion during the 3rd quarter worth approximately $20,614,000. Norges Bank acquired a new position in shares of Materion in the 4th quarter valued at approximately $16,369,000. Trigran Investments Inc. boosted its stake in shares of Materion by 14.6% during the 3rd quarter. Trigran Investments Inc. now owns 675,294 shares of the basic materials company’s stock valued at $68,819,000 after buying an additional 86,134 shares during the last quarter. Finally, Natixis Advisors L.P. bought a new stake in shares of Materion in the fourth quarter worth $5,944,000. Hedge funds and other institutional investors own 93.56% of the company’s stock.

Materion Company Profile

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.