Materion (NYSE:MTRN) Shares Gap Down to $109.82

Materion Co. (NYSE:MTRN)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $109.82, but opened at $107.14. Materion shares last traded at $103.69, with a volume of 11,745 shares traded.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Materion from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th.

Materion Stock Down 9.4 %

The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of 25.80 and a beta of 1.18. The stock has a 50 day moving average of $111.44 and a 200 day moving average of $114.56. The company has a quick ratio of 1.21, a current ratio of 3.25 and a debt-to-equity ratio of 0.51.

Materion (NYSE:MTRN) last issued its earnings results on Monday, August 5th. The basic materials company reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. Materion had a return on equity of 12.20% and a net margin of 4.80%. The company had revenue of $425.87 million during the quarter, compared to the consensus estimate of $424.02 million. During the same period in the previous year, the firm posted $1.38 earnings per share. Materion’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, analysts expect that Materion Co. will post 5.74 earnings per share for the current fiscal year.

Materion Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 23rd were paid a $0.135 dividend. The ex-dividend date was Friday, August 23rd. This represents a $0.54 dividend on an annualized basis and a yield of 0.54%. Materion’s payout ratio is currently 13.53%.

Institutional Investors Weigh In On Materion

A number of hedge funds have recently made changes to their positions in MTRN. Norges Bank bought a new stake in shares of Materion during the fourth quarter valued at approximately $16,369,000. Schroder Investment Management Group raised its holdings in Materion by 0.8% during the fourth quarter. Schroder Investment Management Group now owns 154,255 shares of the basic materials company’s stock worth $20,073,000 after purchasing an additional 1,251 shares in the last quarter. Trigran Investments Inc. raised its holdings in Materion by 1.9% during the fourth quarter. Trigran Investments Inc. now owns 687,794 shares of the basic materials company’s stock worth $89,503,000 after purchasing an additional 12,500 shares in the last quarter. Aurora Investment Counsel raised its holdings in 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 in the last quarter. Finally, Vanguard Group Inc. raised its holdings in 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 in the last quarter. Institutional investors own 93.56% of the company’s stock.

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.