Wall Street Zen Upgrades Materion (NYSE:MTRN) to Buy

Materion (NYSE:MTRN) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

MTRN has been the topic of several other research reports. Zacks Research lowered Materion from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Materion in a report on Wednesday, October 8th. Finally, KeyCorp raised their price objective on Materion from $115.00 to $117.00 and gave the stock an “overweight” rating in a report on Wednesday, August 13th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $117.00.

Materion Stock Performance

NYSE:MTRN opened at $128.93 on Friday. The firm has a market capitalization of $2.67 billion, a PE ratio of 161.16 and a beta of 0.91. The business’s fifty day moving average price is $116.61 and its 200 day moving average price is $94.96. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.17 and a quick ratio of 1.25. Materion has a 12 month low of $69.10 and a 12 month high of $131.95.

Materion (NYSE:MTRN) last posted its earnings results on Wednesday, March 22nd. The basic materials company reported $1.03 EPS for the quarter. The firm had revenue of $230.20 million for the quarter. Materion had a return on equity of 12.69% and a net margin of 0.94%. On average, sell-side analysts anticipate that Materion will post 5.5 earnings per share for the current fiscal year.

Insider Transactions at Materion

In other news, VP Gregory R. Chemnitz sold 3,000 shares of the stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $105.17, for a total transaction of $315,510.00. Following the completion of the sale, the vice president owned 10,376 shares in the company, valued at approximately $1,091,243.92. This represents a 22.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director N Mohan Reddy sold 1,155 shares of the stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $105.45, for a total transaction of $121,794.75. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,295 shares of company stock worth $557,392. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Materion

Hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its position in Materion by 182.9% in the second quarter. EverSource Wealth Advisors LLC now owns 348 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 225 shares during the period. Jones Financial Companies Lllp acquired a new stake in Materion in the first quarter valued at about $34,000. GAMMA Investing LLC lifted its position in Materion by 37.6% in the third quarter. GAMMA Investing LLC now owns 494 shares of the basic materials company’s stock valued at $60,000 after purchasing an additional 135 shares during the period. First Horizon Advisors Inc. lifted its position in Materion by 25.3% in the second quarter. First Horizon Advisors Inc. now owns 585 shares of the basic materials company’s stock valued at $46,000 after purchasing an additional 118 shares during the period. Finally, Elevation Point Wealth Partners LLC acquired a new stake in Materion in the second quarter valued at about $50,000. Institutional investors and hedge funds own 93.56% of the company’s stock.

About Materion

Materion Corporation, together with its subsidiaries, produces advanced engineered materials used in semiconductor, industrial, aerospace and defense, automotive, energy, consumer electronics, and telecom and data center in the United States, Asia, Europe, and internationally. The company operates in four segments: Performance Materials, Electronic Materials, Precision Optics, and Other.