Materion (NYSE:MTRN) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Materion (NYSE:MTRN) from a buy rating to a hold rating in a research report sent to investors on Friday, Zacks.com reports.

According to Zacks, “Materion Corporation, formerly known as Brush Engineered Materials Inc., through its wholly-owned subsidiaries is engaged in the production and supply of high-performance engineered materials in the United States and internationally. Products offered by the Company comprise precious and non-precious specialty metals, inorganic chemicals and powders, specialty coatings, specialty engineered beryllium alloys, beryllium and beryllium composites, and engineered clad and plated metal systems. Materion Corporation is headquartered in Mayfield Heights, Ohio. “

Separately, KeyCorp increased their price target on shares of Materion from $82.00 to $85.00 and gave the company an overweight rating in a report on Friday, June 18th.

Shares of NYSE:MTRN opened at $71.14 on Friday. Materion has a 52-week low of $49.51 and a 52-week high of $80.70. The company has a market capitalization of $1.45 billion, a P/E ratio of 29.77 and a beta of 1.44. The company has a 50-day simple moving average of $71.69 and a 200 day simple moving average of $72.79. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.40 and a current ratio of 3.20.

Materion (NYSE:MTRN) last issued its earnings results on Tuesday, August 3rd. The basic materials company reported $0.86 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.11. Materion had a net margin of 3.64% and a return on equity of 9.26%. The business had revenue of $371.00 million during the quarter, compared to the consensus estimate of $340.65 million. During the same period last year, the business posted $0.45 EPS. Materion’s revenue was up 36.6% on a year-over-year basis. As a group, equities analysts forecast that Materion will post 3.38 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 3rd. Shareholders of record on Friday, August 20th were issued a $0.12 dividend. The ex-dividend date was Thursday, August 19th. This represents a $0.48 annualized dividend and a yield of 0.67%. Materion’s dividend payout ratio is currently 23.65%.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of Materion by 3.6% during the first quarter. BlackRock Inc. now owns 3,533,741 shares of the basic materials company’s stock worth $234,074,000 after purchasing an additional 124,434 shares during the period. Vanguard Group Inc. increased its holdings in shares of Materion by 2.3% during the second quarter. Vanguard Group Inc. now owns 2,211,533 shares of the basic materials company’s stock worth $166,640,000 after purchasing an additional 49,470 shares during the period. State Street Corp increased its holdings in shares of Materion by 6.2% during the second quarter. State Street Corp now owns 1,124,961 shares of the basic materials company’s stock worth $84,766,000 after purchasing an additional 66,092 shares during the period. Investment Counselors of Maryland LLC boosted its position in shares of Materion by 74.7% during the 1st quarter. Investment Counselors of Maryland LLC now owns 551,301 shares of the basic materials company’s stock worth $36,518,000 after acquiring an additional 235,764 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Materion by 2.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 481,955 shares of the basic materials company’s stock worth $36,314,000 after acquiring an additional 10,130 shares in the last quarter. 90.73% of the stock is currently owned by institutional investors.

About Materion

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, Precision Coatings 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, beryllium ceramics, and bulk metallic glass material.

Further Reading: Green Investing

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