Zacks Investment Research upgraded shares of Materion Corp. (NYSE:MTRN) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning. Zacks Investment Research currently has $34.00 target price on the stock.
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. “
A number of other research firms also recently weighed in on MTRN. Jefferies Group reiterated a hold rating on shares of Materion Corp. in a research report on Saturday, October 1st. TheStreet raised Materion Corp. from a hold rating to a buy rating in a report on Thursday, August 18th.
Shares of Materion Corp. (NYSE:MTRN) traded up 0.79% during trading on Wednesday, reaching $30.65. The company’s stock had a trading volume of 7,700 shares. The firm has a market cap of $611.99 million, a PE ratio of 24.72 and a beta of 1.35. The company’s 50 day moving average price is $29.97 and its 200 day moving average price is $26.98. Materion Corp. has a 12 month low of $20.62 and a 12 month high of $35.21.
Materion Corp. (NYSE:MTRN) last released its earnings results on Thursday, July 28th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. The firm earned $249.80 million during the quarter, compared to the consensus estimate of $235.29 million. Materion Corp. had a return on equity of 5.55% and a net margin of 2.60%. The company’s revenue was down 9.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.43 EPS. On average, equities analysts predict that Materion Corp. will post $1.34 earnings per share for the current year.
A number of institutional investors have recently modified their holdings of MTRN. Springbok Capital Management LLC boosted its position in shares of Materion Corp. by 221.4% in the first quarter. Springbok Capital Management LLC now owns 4,500 shares of the company’s stock worth $119,000 after buying an additional 3,100 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Materion Corp. by 16.2% in the first quarter. Legal & General Group Plc now owns 4,544 shares of the company’s stock worth $122,000 after buying an additional 632 shares during the last quarter. Paradigm Asset Management Co. LLC boosted its position in shares of Materion Corp. by 11.8% in the second quarter. Paradigm Asset Management Co. LLC now owns 5,700 shares of the company’s stock worth $141,000 after buying an additional 600 shares during the last quarter. Highbridge Capital Management LLC purchased a new position in shares of Materion Corp. during the second quarter worth about $210,000. Finally, BNP Paribas Arbitrage SA boosted its position in shares of Materion Corp. by 103.2% in the second quarter. BNP Paribas Arbitrage SA now owns 8,720 shares of the company’s stock worth $216,000 after buying an additional 4,428 shares during the last quarter. 90.75% of the stock is owned by institutional investors and hedge funds.
Materion Corp. Company Profile
Materion Corporation is a holding company. The Company is an integrated producer of engineered materials used in a range of electrical, electronic, thermal and structural applications. The Company’s products are sold in markets, including consumer electronics, industrial components, medical, automotive electronics, energy, telecommunications infrastructure, defense and commercial aerospace.
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