Materion (NYSE:MTRN) Releases Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Materion (NYSE:MTRN) posted its earnings results on Wednesday. The basic materials company reported $0.96 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.02), Briefing.com reports. Materion had a return on equity of 12.32% and a net margin of 5.19%. The company had revenue of $385.29 million for the quarter, compared to the consensus estimate of $386.84 million. During the same quarter last year, the business earned $1.34 EPS. Materion’s quarterly revenue was down 12.9% compared to the same quarter last year. Materion updated its FY 2024 guidance to 5.600-6.200 EPS and its FY24 guidance to $5.60-6.20 EPS.

Materion Price Performance

Shares of MTRN traded down $2.59 on Friday, hitting $107.23. The company’s stock had a trading volume of 212,111 shares, compared to its average volume of 95,799. The company has a 50 day moving average price of $126.87 and a 200 day moving average price of $120.45. Materion has a fifty-two week low of $92.23 and a fifty-two week high of $145.08. The company has a market capitalization of $2.22 billion, a PE ratio of 26.87 and a beta of 1.17. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.91 and a quick ratio of 1.05.

Insider Activity at Materion

In other news, CFO Shelly Marie Chadwick sold 2,000 shares of the 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 sale, the chief financial officer now owns 13,147 shares in the company, valued at $1,743,292.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Gregory R. Chemnitz sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $133.74, for a total value of $401,220.00. Following the completion of the sale, the vice president now owns 14,510 shares of the company’s stock, valued at $1,940,567.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Shelly Marie Chadwick sold 2,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 13,147 shares of the company’s stock, 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.

Analyst Ratings Changes

Separately, KeyCorp reduced their target price on shares of Materion from $157.00 to $156.00 and set an “overweight” rating on the stock in a research note on Monday, April 1st.

Materion Company Profile

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.