Equities analysts expect Materion Corp (NYSE:MTRN) to post $307.70 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Materion’s earnings, with the highest sales estimate coming in at $314.00 million and the lowest estimate coming in at $303.10 million. Materion posted sales of $294.27 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 4.6%. The business is scheduled to report its next earnings results on Thursday, October 25th.
According to Zacks, analysts expect that Materion will report full year sales of $1.23 billion for the current financial year, with estimates ranging from $1.22 billion to $1.24 billion. For the next financial year, analysts expect that the company will post sales of $1.25 billion per share, with estimates ranging from $1.24 billion to $1.26 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Materion.
Materion (NYSE:MTRN) last issued its earnings results on Thursday, July 26th. The basic materials company reported $0.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.03. The business had revenue of $309.10 million during the quarter, compared to analyst estimates of $311.90 million. Materion had a return on equity of 8.30% and a net margin of 1.88%. Materion’s revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.42 EPS.
A number of equities research analysts have weighed in on the company. Zacks Investment Research raised Materion from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a research report on Tuesday, July 31st. ValuEngine lowered Materion from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 21st. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Materion has an average rating of “Buy” and an average target price of $58.50.
In other news, VP Gregory R. Chemnitz sold 2,000 shares of the business’s stock in a transaction on Friday, August 3rd. The stock was 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 directly owns 12,523 shares of the company’s stock, valued at approximately $792,831.13. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Joseph P. Kelley purchased 2,923 shares of Materion stock in a transaction dated Wednesday, August 8th. The stock was bought at an average cost of $63.74 per share, with a total value of $186,312.02. The disclosure for this purchase can be found here. Insiders own 2.90% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers raised its position in shares of Materion by 2.0% in the 2nd quarter. Rhumbline Advisers now owns 57,009 shares of the basic materials company’s stock worth $3,087,000 after acquiring an additional 1,123 shares in the last quarter. Cubist Systematic Strategies LLC raised its position in shares of Materion by 40.9% in the 1st quarter. Cubist Systematic Strategies LLC now owns 3,869 shares of the basic materials company’s stock worth $198,000 after acquiring an additional 1,124 shares in the last quarter. Paloma Partners Management Co grew its stake in Materion by 27.4% during the 2nd quarter. Paloma Partners Management Co now owns 6,508 shares of the basic materials company’s stock worth $352,000 after buying an additional 1,401 shares during the last quarter. California Public Employees Retirement System grew its stake in Materion by 4.0% during the 1st quarter. California Public Employees Retirement System now owns 40,319 shares of the basic materials company’s stock worth $2,058,000 after buying an additional 1,549 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its stake in Materion by 23.3% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 9,510 shares of the basic materials company’s stock worth $515,000 after buying an additional 1,798 shares during the last quarter. 90.66% of the stock is owned by hedge funds and other institutional investors.
NYSE MTRN traded down $0.60 on Thursday, reaching $58.80. 145,700 shares of the stock traded hands, compared to its average volume of 111,438. The company has a quick ratio of 1.69, a current ratio of 3.48 and a debt-to-equity ratio of 0.04. The firm has a market cap of $1.19 billion, a PE ratio of 34.53 and a beta of 0.96. Materion has a 12 month low of $37.65 and a 12 month high of $65.10.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 5th. Shareholders of record on Tuesday, August 21st were given a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend was Monday, August 20th. Materion’s dividend payout ratio (DPR) is presently 24.42%.
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 through Performance Alloys and Composites, Advanced Materials, and Precision Coatings segments.
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