Materion (NYSE:MTRN) Price Target Lowered to $156.00 at KeyCorp

Materion (NYSE:MTRNGet Free Report) had its target price cut by KeyCorp from $157.00 to $156.00 in a report released on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the basic materials company’s stock. KeyCorp’s price objective would indicate a potential upside of 26.22% from the stock’s previous close.

Materion Price Performance

Shares of MTRN opened at $123.60 on Monday. Materion has a 12-month low of $92.23 and a 12-month high of $145.08. The business’s fifty day moving average is $128.50 and its 200 day moving average is $117.40. The company has a quick ratio of 1.05, a current ratio of 2.78 and a debt-to-equity ratio of 0.45. The stock has a market cap of $2.56 billion, a P/E ratio of 26.99 and a beta of 1.14.

Materion (NYSE:MTRNGet Free Report) last issued its earnings results on Thursday, February 15th. The basic materials company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.03. Materion had a return on equity of 13.49% and a net margin of 5.75%. The company had revenue of $421.00 million for the quarter, compared to analysts’ expectations of $420.50 million. During the same period last year, the business earned $1.49 EPS. Materion’s quarterly revenue was down 3.1% compared to the same quarter last year. Sell-side analysts anticipate that Materion will post 6.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Materion news, CFO Shelly Marie Chadwick sold 2,000 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $132.60, for a total transaction of $265,200.00. Following the transaction, the chief financial officer now directly owns 13,147 shares in the company, valued at approximately $1,743,292.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Materion news, VP Gregory R. Chemnitz sold 3,000 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $133.74, for a total transaction of $401,220.00. Following the transaction, the vice president now directly owns 14,510 shares in the company, valued at approximately $1,940,567.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Shelly Marie Chadwick sold 2,000 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $132.60, for a total value of $265,200.00. Following the transaction, the chief financial officer now owns 13,147 shares in the company, valued at $1,743,292.20. The disclosure for this sale can be found here. 2.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Materion

A number of hedge funds have recently made changes to their positions in the business. Aurora Investment Counsel raised its stake in shares of Materion by 1.2% during the 4th quarter. Aurora Investment Counsel now owns 6,505 shares of the basic materials company’s stock worth $846,000 after purchasing an additional 80 shares during the period. Orion Portfolio Solutions LLC raised its stake in shares of Materion by 3.7% during the 4th quarter. Orion Portfolio Solutions LLC now owns 2,592 shares of the basic materials company’s stock worth $321,000 after purchasing an additional 92 shares during the period. Ameritas Investment Partners Inc. raised its stake in shares of Materion by 6.2% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,697 shares of the basic materials company’s stock worth $194,000 after purchasing an additional 99 shares during the period. New York State Common Retirement Fund raised its stake in shares of Materion by 0.3% during the 3rd quarter. New York State Common Retirement Fund now owns 37,474 shares of the basic materials company’s stock worth $3,819,000 after purchasing an additional 106 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Materion by 1.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,278 shares of the basic materials company’s stock worth $945,000 after purchasing an additional 114 shares during the period. 93.56% of the stock is currently owned by institutional investors.

About Materion

(Get Free Report)

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.

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