Materion (NYSE:MTRN) Downgraded to “Sell” at ValuEngine

ValuEngine lowered shares of Materion (NYSE:MTRN) from a hold rating to a sell rating in a research report sent to investors on Wednesday, ValuEngine reports.

Separately, Zacks Investment Research downgraded Materion from a hold rating to a sell rating in a research note on Wednesday, October 30th.

MTRN stock traded up $0.53 on Wednesday, hitting $58.62. 77,829 shares of the company’s stock were exchanged, compared to its average volume of 122,463. Materion has a 12-month low of $42.50 and a 12-month high of $71.97. The firm has a 50 day moving average price of $59.59 and a two-hundred day moving average price of $62.30. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.23 and a current ratio of 3.75. The stock has a market cap of $1.17 billion, a P/E ratio of 24.63 and a beta of 0.83.

Materion (NYSE:MTRN) last announced its earnings results on Thursday, October 24th. The basic materials company reported $0.81 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.81. Materion had a return on equity of 11.28% and a net margin of 1.25%. The firm had revenue of $305.98 million for the quarter, compared to the consensus estimate of $295.45 million. During the same period in the previous year, the business earned $0.68 EPS. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. Sell-side analysts expect that Materion will post 3.18 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Friday, November 8th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $0.44 annualized dividend and a yield of 0.75%. Materion’s payout ratio is presently 18.49%.

A number of institutional investors have recently bought and sold shares of MTRN. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Materion by 65.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,525 shares of the basic materials company’s stock valued at $103,000 after purchasing an additional 604 shares during the last quarter. Point72 Hong Kong Ltd grew its stake in Materion by 55.9% during the 2nd quarter. Point72 Hong Kong Ltd now owns 1,651 shares of the basic materials company’s stock valued at $112,000 after purchasing an additional 592 shares during the last quarter. Quantamental Technologies LLC grew its stake in Materion by 33.1% during the 2nd quarter. Quantamental Technologies LLC now owns 1,741 shares of the basic materials company’s stock valued at $118,000 after purchasing an additional 433 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Materion during the 3rd quarter valued at about $139,000. Finally, Meeder Asset Management Inc. purchased a new stake in Materion during the 3rd quarter valued at about $164,000. Institutional investors and hedge funds own 87.10% of the company’s stock.

Materion Company Profile

Materion Corporation manufactures and sells advanced engineered materials used in consumer electronics, industrial components, defense, medical, automotive electronics, telecommunications infrastructure, energy, commercial aerospace, science, services, and appliance markets worldwide. The company operates in four segments: Performance Alloys and Composites, Advanced Materials, Precision Coatings, and Other.

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