Materion (NYSE:MTRN) Trading Down 2%

Shares of Materion Co. (NYSE:MTRN) dropped 2% during mid-day trading on Thursday . The stock traded as low as $134.71 and last traded at $136.16. Approximately 17,886 shares were traded during trading, a decline of 81% from the average daily volume of 92,441 shares. The stock had previously closed at $139.00.

Analysts Set New Price Targets

Separately, KeyCorp raised their price target on shares of Materion from $140.00 to $157.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th.

Materion Stock Performance

The company’s 50 day moving average price is $127.80 and its 200-day moving average price is $116.68. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.05 and a current ratio of 2.78. The company has a market cap of $2.72 billion, a PE ratio of 29.80 and a beta of 1.15.

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

Materion Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Thursday, February 22nd were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $0.52 dividend on an annualized basis and a yield of 0.39%. Materion’s payout ratio is 11.35%.

Insider Buying and Selling at Materion

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hennessy Advisors Inc. purchased a new stake in Materion during the fourth quarter valued at about $3,696,000. Vanguard Group Inc. boosted its holdings in shares of Materion by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 2,541,196 shares of the basic materials company’s stock worth $330,686,000 after purchasing an additional 9,394 shares during the period. Aurora Investment Counsel boosted its holdings in shares of Materion by 1.2% during the fourth 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. Price T Rowe Associates Inc. MD boosted its holdings in shares of Materion by 4.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,227 shares of the basic materials company’s stock worth $1,461,000 after purchasing an additional 443 shares during the period. Finally, Barclays PLC boosted its holdings in shares of Materion by 217.1% during the fourth quarter. Barclays PLC now owns 32,476 shares of the basic materials company’s stock worth $4,227,000 after purchasing an additional 22,235 shares during the period. 93.56% of the stock is currently owned by hedge funds and other institutional investors.

About Materion

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.