Materion Corporation (NYSE:MTRN) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday.
Other research analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Materion Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Jefferies Group LLC restated a “hold” rating and set a $34.00 price target on shares of Materion Corporation in a report on Friday, July 7th.
Materion Corporation (NYSE:MTRN) last released its earnings results on Thursday, October 26th. The basic materials company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.10. The business had revenue of $294.27 million for the quarter, compared to the consensus estimate of $290.96 million. Materion Corporation had a net margin of 2.48% and a return on equity of 6.08%. The firm’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same period last year, the firm posted $0.46 earnings per share.
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In related news, VP Gregory R. Chemnitz sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $49.60, for a total transaction of $148,800.00. Following the completion of the sale, the vice president now directly owns 13,061 shares in the company, valued at $647,825.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.90% of the company’s stock.
Several hedge funds have recently bought and sold shares of MTRN. Prudential Financial Inc. boosted its holdings in shares of Materion Corporation by 0.6% during the first quarter. Prudential Financial Inc. now owns 34,431 shares of the basic materials company’s stock worth $1,155,000 after purchasing an additional 200 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Materion Corporation during the first quarter worth approximately $115,000. Victory Capital Management Inc. boosted its holdings in shares of Materion Corporation by 50.5% during the first quarter. Victory Capital Management Inc. now owns 3,789 shares of the basic materials company’s stock worth $127,000 after purchasing an additional 1,271 shares during the period. Arizona State Retirement System boosted its holdings in shares of Materion Corporation by 1.0% during the first quarter. Arizona State Retirement System now owns 10,412 shares of the basic materials company’s stock worth $349,000 after purchasing an additional 100 shares during the period. Finally, United Services Automobile Association acquired a new stake in shares of Materion Corporation during the first quarter worth approximately $215,000. Institutional investors and hedge funds own 90.79% of the company’s stock.
About Materion Corporation
Materion Corporation, through its subsidiaries, is an integrated producer of engineered materials used in a range of electrical, electronic, thermal, and structural applications. The Company operates in four segments: Performance Alloys and Composites, Advanced Materials, Precision Coatings, and Other.
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