Materion (NYSE:MTRN) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research lowered shares of Materion (NYSE:MTRN) from a buy rating to a hold rating in a research report released 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 lifted their price objective on Materion from $82.00 to $85.00 and gave the company an overweight rating in a report on Friday, June 18th.

Shares of MTRN opened at $71.14 on Friday. Materion has a 12-month low of $49.51 and a 12-month high of $80.70. The company has a quick ratio of 1.40, a current ratio of 3.20 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 29.77 and a beta of 1.44. The stock’s 50-day moving average price is $71.69 and its 200 day moving average price is $72.79.

Materion (NYSE:MTRN) last issued its quarterly earnings results on Tuesday, August 3rd. The basic materials company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.11. Materion had a return on equity of 9.26% and a net margin of 3.64%. The firm had revenue of $371.00 million for the quarter, compared to analyst estimates of $340.65 million. During the same period in the previous year, the company posted $0.45 earnings per share. The company’s quarterly revenue was up 36.6% compared to the same quarter last year. Equities research analysts expect that Materion will post 3.38 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 3rd. Investors of record on Friday, August 20th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend was Thursday, August 19th. Materion’s dividend payout ratio (DPR) is presently 23.65%.

Hedge funds have recently bought and sold shares of the stock. Point72 Hong Kong Ltd raised its position in shares of Materion by 572.8% during the 1st quarter. Point72 Hong Kong Ltd now owns 1,312 shares of the basic materials company’s stock valued at $87,000 after acquiring an additional 1,117 shares during the last quarter. Captrust Financial Advisors raised its position in shares of Materion by 3,237.5% during the 1st quarter. Captrust Financial Advisors now owns 1,335 shares of the basic materials company’s stock valued at $88,000 after acquiring an additional 1,295 shares during the last quarter. William Blair Investment Management LLC bought a new stake in shares of Materion during the 2nd quarter valued at $89,000. Macquarie Group Ltd. raised its position in shares of Materion by 435.0% during the 2nd quarter. Macquarie Group Ltd. now owns 1,605 shares of the basic materials company’s stock valued at $121,000 after acquiring an additional 1,305 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new stake in shares of Materion during the 2nd quarter valued at $130,000. Hedge funds and other institutional investors own 90.73% of the company’s stock.

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.

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