Materion (NYSE:MTRN) Cut to “Hold” at ValuEngine

ValuEngine cut shares of Materion (NYSE:MTRN) from a buy rating to a hold rating in a research report sent to investors on Tuesday, ValuEngine reports.

Separately, Zacks Investment Research lowered GENEL ENERGY PL/ADR from a buy rating to a hold rating in a report on Tuesday, May 7th.

MTRN stock opened at $64.34 on Tuesday. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 27.03 and a beta of 0.94. The company has a current ratio of 3.32, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The firm has a 50 day simple moving average of $64.58. Materion has a 12-month low of $42.50 and a 12-month high of $71.97.

Materion (NYSE:MTRN) last announced its quarterly earnings data on Thursday, May 2nd. The basic materials company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.22. Materion had a return on equity of 10.20% and a net margin of 2.25%. The business had revenue of $301.44 million during the quarter, compared to analyst estimates of $297.70 million. During the same period in the prior year, the company earned $0.51 earnings per share. Materion’s revenue was down .7% compared to the same quarter last year. On average, equities research analysts anticipate that Materion will post 3.1 earnings per share for the current year.

In other news, Director Craig S. Shular sold 4,127 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $63.08, for a total value of $260,331.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Vinod M. Khilnani sold 1,855 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $65.84, for a total value of $122,133.20. Following the completion of the transaction, the director now directly owns 16,466 shares of the company’s stock, valued at $1,084,121.44. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the company. Summit Global Investments raised its position in shares of Materion by 11.7% in the first quarter. Summit Global Investments now owns 16,200 shares of the basic materials company’s stock worth $924,000 after buying an additional 1,700 shares in the last quarter. Nachman Norwood & Parrott Inc purchased a new stake in Materion during the first quarter valued at about $217,000. 361 Capital LLC raised its position in Materion by 14.2% during the first quarter. 361 Capital LLC now owns 50,767 shares of the basic materials company’s stock valued at $2,897,000 after purchasing an additional 6,304 shares in the last quarter. Municipal Employees Retirement System of Michigan purchased a new stake in Materion during the fourth quarter valued at about $344,000. Finally, Norges Bank purchased a new stake in Materion during the fourth quarter valued at about $20,752,000. 92.02% of the stock is owned by hedge funds and other institutional investors.

About Materion

Materion Corporation manufactures and sells advanced engineered materials used in consumer electronics, industrial components, defense, medical, automotive electronics, telecommunications infrastructure, energy, commercial aerospace, science, services, and appliance markets worldwide. The company operates in four segments: Performance Alloys and Composites, Advanced Materials, Precision Coatings, and Other.

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