Materion Corp (NYSE:MTRN) Short Interest Update

Materion Corp (NYSE:MTRN) saw a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 281,000 shares, a growth of 31.2% from the September 30th total of 214,200 shares. Based on an average trading volume of 123,700 shares, the short-interest ratio is presently 2.3 days. Approximately 1.4% of the shares of the company are short sold.

A number of hedge funds have recently added to or reduced their stakes in MTRN. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Materion by 65.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,525 shares of the basic materials company’s stock valued at $103,000 after buying an additional 604 shares during the last quarter. Point72 Hong Kong Ltd raised its position in shares of Materion by 55.9% during the second quarter. Point72 Hong Kong Ltd now owns 1,651 shares of the basic materials company’s stock valued at $112,000 after buying an additional 592 shares during the last quarter. Quantamental Technologies LLC raised its position in shares of Materion by 33.1% during the second quarter. Quantamental Technologies LLC now owns 1,741 shares of the basic materials company’s stock valued at $118,000 after buying an additional 433 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Materion during the third quarter valued at about $139,000. Finally, Meeder Asset Management Inc. acquired a new position in shares of Materion during the third quarter valued at about $164,000. Institutional investors own 87.10% of the company’s stock.

MTRN stock traded up $1.31 during mid-day trading on Tuesday, reaching $58.79. 88,781 shares of the stock traded hands, compared to its average volume of 122,335. The company has a quick ratio of 2.23, a current ratio of 3.75 and a debt-to-equity ratio of 0.06. Materion has a 52 week low of $42.50 and a 52 week high of $71.97. The business has a 50-day moving average of $59.83 and a two-hundred day moving average of $62.31. The firm has a market capitalization of $1.21 billion, a PE ratio of 24.70 and a beta of 0.83.

Materion (NYSE:MTRN) last released its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.81. Materion had a net margin of 1.25% and a return on equity of 11.28%. The company had revenue of $305.98 million during the quarter, compared to analysts’ expectations of $295.45 million. During the same period in the prior year, the company earned $0.68 earnings per share. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, equities research analysts anticipate that Materion will post 3.18 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Friday, November 8th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend is Thursday, November 7th. Materion’s dividend payout ratio (DPR) is 18.49%.

A number of research firms have issued reports on MTRN. ValuEngine upgraded shares of Materion from a “sell” rating to a “hold” rating in a report on Friday, October 25th. Zacks Investment Research cut shares of Materion from a “hold” rating to a “sell” rating in a report on Wednesday, October 30th.

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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