KeyCorp Reaffirms Hold Rating for Materion Corporation (MTRN)

KeyCorp reaffirmed their hold rating on shares of Materion Corporation (NYSE:MTRN) in a report issued on Monday morning.

Several other equities research analysts have also recently issued reports on MTRN. BidaskClub raised shares of Materion Corporation from a buy rating to a strong-buy rating in a research report on Wednesday, August 2nd. Zacks Investment Research raised shares of Materion Corporation from a hold rating to a buy rating and set a $43.00 price objective for the company in a research report on Wednesday, September 27th. Finally, Jefferies Group LLC reaffirmed a hold rating and set a $36.00 price objective on shares of Materion Corporation in a research report on Thursday, October 12th.

Materion Corporation (NYSE MTRN) opened at $49.80 on Monday. The company has a market cap of $991.15, a price-to-earnings ratio of 33.19 and a beta of 1.11. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.42 and a quick ratio of 1.48. Materion Corporation has a 12 month low of $31.05 and a 12 month high of $52.10.

Materion Corporation (NYSE:MTRN) last posted its quarterly earnings results on Thursday, October 26th. The basic materials company reported $0.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.10. The business had revenue of $294.27 million during the quarter, compared to the consensus estimate of $290.96 million. Materion Corporation had a net margin of 2.48% and a return on equity of 6.08%. The company’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.46 earnings per share. sell-side analysts forecast that Materion Corporation will post 1.6 EPS for the current year.

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The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 8th will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, November 7th. This represents a $0.40 annualized dividend and a dividend yield of 0.80%. Materion Corporation’s dividend payout ratio (DPR) is currently 30.77%.

In related news, VP Gregory R. Chemnitz sold 4,000 shares of the business’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $50.16, for a total value of $200,640.00. Following the completion of the sale, the vice president now directly owns 13,245 shares of the company’s stock, valued at $664,369.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director N Mohan Reddy sold 11,393 shares of the business’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $50.11, for a total transaction of $570,903.23. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,106 shares of company stock valued at $2,204,267. Corporate insiders own 2.90% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. UBS Asset Management Americas Inc. purchased a new stake in Materion Corporation in the second quarter valued at $280,000. Virginia Retirement Systems ET AL lifted its position in Materion Corporation by 156.3% in the second quarter. Virginia Retirement Systems ET AL now owns 32,800 shares of the basic materials company’s stock valued at $1,227,000 after acquiring an additional 20,000 shares during the last quarter. Prudential Financial Inc. lifted its position in Materion Corporation by 0.6% in the first quarter. Prudential Financial Inc. now owns 34,431 shares of the basic materials company’s stock valued at $1,155,000 after acquiring an additional 200 shares during the last quarter. Tudor Investment Corp ET AL purchased a new stake in Materion Corporation in the first quarter valued at $359,000. Finally, Teachers Advisors LLC lifted its position in Materion Corporation by 3.3% in the first quarter. Teachers Advisors LLC now owns 39,595 shares of the basic materials company’s stock valued at $1,328,000 after acquiring an additional 1,280 shares during the last quarter. 88.89% of the stock is owned by hedge funds and other institutional investors.

Materion Corporation Company Profile

Materion Corporation, through its subsidiaries, is an integrated producer of engineered materials used in a range of electrical, electronic, thermal, and structural applications. The Company operates in four segments: Performance Alloys and Composites, Advanced Materials, Precision Coatings, and Other.

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