Materion Corporation (NYSE:MTRN) Stock Has Consensus Target Price of $273.00 According to Brokerages

Shares of Materion Corporation (NYSE:MTRN) have been given an average recommendation of “Moderate Buy” by the five research firms that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $273.00.

MTRN has been the subject of a number of research analyst reports. Jefferies Financial Group assumed coverage on Materion in a research report on Wednesday, September 2nd. They issued a “buy” rating and a $314.00 target price for the company. Seaport Research Partners raised Materion from a “neutral” rating to a “buy” rating and set a $250.00 price objective on the stock in a research note on Thursday, November 5th. Wall Street Zen raised Materion from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Weiss Ratings lowered Materion from a “buy (b-)” rating to a “hold (c)” rating in a report on Thursday, October 29th. Finally, KeyCorp decreased their target price on Materion from $306.00 to $232.00 and set an “overweight” rating for the company in a research note on Thursday, November 5th.

Insider Buying and Selling at Materion

In other Materion news, Director Vinod Khilnani sold 2,000 shares of the company’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $235.16, for a total value of $470,320.00. Following the transaction, the director owned 11,171 shares of the company’s stock, valued at approximately $2,626,972.36. This represents a 15.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Emily Liggett sold 1,012 shares of the stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $232.42, for a total value of $235,209.04. Following the sale, the director owned 3,161 shares of the company’s stock, valued at $734,679.62. This trade represents a 24.25% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MTRN. Advisors Asset Management Inc. acquired a new stake in shares of Materion during the third quarter valued at approximately $10,429,000. Private Advisor Group LLC acquired a new position in Materion in the 3rd quarter worth approximately $263,000. Voya Investment Management LLC grew its position in Materion by 24.1% during the 3rd quarter. Voya Investment Management LLC now owns 9,972 shares of the basic materials company’s stock worth $2,688,000 after purchasing an additional 1,936 shares in the last quarter. Global Retirement Partners LLC grew its position in Materion by 7.0% during the 3rd quarter. Global Retirement Partners LLC now owns 783 shares of the basic materials company’s stock worth $211,000 after purchasing an additional 51 shares in the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in Materion during the 3rd quarter valued at $1,480,000. 93.56% of the stock is currently owned by institutional investors and hedge funds.

Materion Trading Up 4.2%

Materion stock opened at $209.91 on Thursday. The firm has a 50 day simple moving average of $247.53 and a 200-day simple moving average of $213.73. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.81 and a quick ratio of 1.22. The stock has a market capitalization of $4.38 billion, a PE ratio of 43.01 and a beta of 1.10. Materion has a 12-month low of $110.69 and a 12-month high of $324.98.

Materion (NYSE:MTRN) last posted its quarterly earnings data on Wednesday, November 4th. The basic materials company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.04. Materion had a net margin of 4.64% and a return on equity of 14.23%. The business had revenue of $313.66 million for the quarter, compared to analyst estimates of $611.38 million. During the same quarter last year, the business earned $1.41 earnings per share. The business’s revenue for the quarter was up 27.5% on a year-over-year basis. As a group, equities research analysts expect that Materion will post 7.27 EPS for the current fiscal year.

Materion Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Thursday, November 19th will be given a $0.1450 dividend. The ex-dividend date is Thursday, November 19th. This represents a $0.58 annualized dividend and a yield of 0.3%. Materion’s payout ratio is 11.89%.

About Materion

Materion Corporation is a specialty materials company that develops and manufactures advanced engineered materials and related services. Its products include beryllium and beryllium alloys, other engineered metals, and materials used in thin-film deposition and other high-performance applications. The company’s materials serve customers in markets such as semiconductors, aerospace and defense, telecommunications, automotive, consumer electronics, and industrial manufacturing. Materion also provides services including materials processing, recycling, and technical support.