Materion (NYSE:MTRN) Upgraded to B- at TheStreet

Materion (NYSE:MTRN) was upgraded by research analysts at TheStreet from a “c+” rating to a “b-” rating in a note issued to investors on Thursday, TheStreetRatingsTable reports.

MTRN has been the topic of several other research reports. Zacks Investment Research raised Materion from a “sell” rating to a “hold” rating in a report on Thursday, December 26th. ValuEngine raised Materion from a “sell” rating to a “hold” rating in a report on Saturday.

Shares of NYSE MTRN opened at $53.06 on Thursday. The stock has a market cap of $1.12 billion, a P/E ratio of 21.66 and a beta of 0.85. The company has a current ratio of 3.75, a quick ratio of 2.23 and a debt-to-equity ratio of 0.06. Materion has a 12-month low of $52.83 and a 12-month high of $71.97. The business’s fifty day simple moving average is $58.50 and its 200-day simple moving average is $59.63.

Materion (NYSE:MTRN) last announced its quarterly earnings data on Thursday, February 13th. The basic materials company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.01. The business had revenue of $280.20 million for the quarter, compared to analysts’ expectations of $295.33 million. Materion had a return on equity of 11.24% and a net margin of 4.27%. The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period last year, the firm earned $0.65 earnings per share. On average, equities analysts forecast that Materion will post 3.25 EPS for the current fiscal year.

In related news, Director Craig S. Shular sold 4,637 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $60.65, for a total value of $281,234.05. Following the transaction, the director now owns 4,637 shares of the company’s stock, valued at $281,234.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.40% of the company’s stock.

A number of large investors have recently bought and sold shares of MTRN. BlackRock Inc. increased its holdings in Materion by 5.8% in the second quarter. BlackRock Inc. now owns 3,266,269 shares of the basic materials company’s stock valued at $221,486,000 after buying an additional 178,493 shares during the last quarter. Millennium Management LLC increased its holdings in Materion by 113.8% in the third quarter. Millennium Management LLC now owns 203,816 shares of the basic materials company’s stock valued at $12,506,000 after buying an additional 108,477 shares during the last quarter. Cooper Creek Partners Management LLC purchased a new position in Materion in the fourth quarter valued at $3,557,000. Renaissance Technologies LLC grew its holdings in shares of Materion by 11.9% during the fourth quarter. Renaissance Technologies LLC now owns 438,395 shares of the basic materials company’s stock worth $26,063,000 after purchasing an additional 46,598 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Materion by 6.0% during the fourth quarter. State Street Corp now owns 793,851 shares of the basic materials company’s stock worth $47,194,000 after purchasing an additional 44,836 shares during the last quarter. 89.19% of the stock is currently owned by hedge funds and other institutional investors.

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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