Materion Corp (NYSE:MTRN) – Analysts at Jefferies Financial Group boosted their FY2018 earnings per share estimates for Materion in a research note issued to investors on Monday, October 29th. Jefferies Financial Group analyst M. Englert now forecasts that the basic materials company will post earnings per share of $2.28 for the year, up from their prior estimate of $2.15. Jefferies Financial Group also issued estimates for Materion’s FY2019 earnings at $2.50 EPS and FY2020 earnings at $2.84 EPS.
Separately, Zacks Investment Research raised Materion from a “hold” rating to a “buy” rating and set a $69.00 price objective on the stock in a report on Tuesday, July 31st. Two research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Materion has a consensus rating of “Buy” and a consensus price target of $57.50.
Materion (NYSE:MTRN) last posted its earnings results on Thursday, October 25th. The basic materials company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.55 by $0.13. Materion had a return on equity of 8.94% and a net margin of 2.74%. The firm had revenue of $297.19 million for the quarter, compared to analyst estimates of $307.70 million.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MTRN. BlackRock Inc. lifted its position in shares of Materion by 7.6% in the second quarter. BlackRock Inc. now owns 2,923,599 shares of the basic materials company’s stock valued at $158,313,000 after acquiring an additional 206,358 shares in the last quarter. Citadel Advisors LLC lifted its position in shares of Materion by 205.5% in the second quarter. Citadel Advisors LLC now owns 139,926 shares of the basic materials company’s stock valued at $7,577,000 after acquiring an additional 94,121 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of Materion by 15.8% in the second quarter. Acadian Asset Management LLC now owns 635,086 shares of the basic materials company’s stock valued at $34,392,000 after acquiring an additional 86,607 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Materion in the third quarter valued at approximately $4,375,000. Finally, James Investment Research Inc. purchased a new position in shares of Materion in the second quarter valued at approximately $1,984,000. Institutional investors and hedge funds own 89.50% of the company’s stock.
In other news, VP Joseph P. Kelley bought 2,923 shares of the firm’s stock in a transaction dated Wednesday, August 8th. The shares were acquired at an average price of $63.74 per share, for a total transaction of $186,312.02. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Gregory R. Chemnitz sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, August 3rd. The shares were sold at an average price of $63.31, for a total value of $126,620.00. Following the completion of the transaction, the vice president now owns 12,523 shares in the company, valued at approximately $792,831.13. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by company insiders.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Thursday, November 8th will be issued a $0.105 dividend. This represents a $0.42 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend is Wednesday, November 7th. Materion’s payout ratio is currently 24.42%.
Materion Company Profile
Materion Corp. engages in the production of engineered materials used in a variety of electrical, electronic, thermal, and structural applications. The company operates through the following segments: Performance Alloys and Composites, Advanced Materials and Other. The Performance Alloys and Composites segment produces strip and bulk form alloy products, strip metal products with clad inlay and overlay metals, beryllium-based metals, beryllium, and aluminum metal matrix composites, in rod, sheet, foil, and a variety of customized forms, beryllia ceramics, and bulk metallic glass material.
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