Analysts expect that Materion Corp (NYSE:MTRN) will post $307.70 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Materion’s earnings, with the lowest sales estimate coming in at $303.10 million and the highest estimate coming in at $314.00 million. Materion reported sales of $294.27 million during the same quarter last year, which suggests a positive year-over-year growth rate of 4.6%. The company is scheduled to report its next quarterly earnings results before the market opens on Thursday, October 25th.
According to Zacks, analysts expect that Materion will report full-year sales of $1.23 billion for the current year, with estimates ranging from $1.22 billion to $1.24 billion. For the next year, analysts expect that the company will report sales of $1.25 billion, with estimates ranging from $1.24 billion to $1.26 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Materion.
Materion (NYSE:MTRN) last posted its quarterly earnings results on Thursday, July 26th. The basic materials company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.03. The firm had revenue of $309.10 million for the quarter, compared to analyst estimates of $311.90 million. Materion had a return on equity of 8.30% and a net margin of 1.88%. Materion’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.42 earnings per share.
MTRN has been the topic of several recent analyst reports. ValuEngine lowered Materion from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 21st. Zacks Investment Research raised Materion from a “hold” rating to a “buy” rating and set a $69.00 price target on the stock in a research report on Tuesday, July 31st. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Materion currently has a consensus rating of “Buy” and a consensus price target of $58.50.
In other news, VP Joseph P. Kelley bought 2,923 shares of the stock in a transaction on Wednesday, August 8th. The shares were purchased at an average price of $63.74 per share, for a total transaction of $186,312.02. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Gregory R. Chemnitz sold 2,000 shares of the business’s stock in a transaction dated Friday, August 3rd. The shares were sold at an average price of $63.31, for a total value of $126,620.00. Following the completion of the transaction, the vice president now owns 12,523 shares in the company, valued at approximately $792,831.13. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of MTRN. BlackRock Inc. boosted its stake in shares of Materion by 7.6% during the 2nd quarter. BlackRock Inc. now owns 2,923,599 shares of the basic materials company’s stock worth $158,313,000 after acquiring an additional 206,358 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Materion by 113.4% during the 1st quarter. Wells Fargo & Company MN now owns 210,069 shares of the basic materials company’s stock worth $10,724,000 after purchasing an additional 111,624 shares during the last quarter. Citadel Advisors LLC lifted its position in shares of Materion by 205.5% during the 2nd quarter. Citadel Advisors LLC now owns 139,926 shares of the basic materials company’s stock worth $7,577,000 after purchasing an additional 94,121 shares during the last quarter. Acadian Asset Management LLC lifted its position in shares of Materion by 15.8% during the 2nd quarter. Acadian Asset Management LLC now owns 635,086 shares of the basic materials company’s stock worth $34,392,000 after purchasing an additional 86,607 shares during the last quarter. Finally, James Investment Research Inc. acquired a new position in shares of Materion during the 2nd quarter worth about $1,984,000. Hedge funds and other institutional investors own 89.49% of the company’s stock.
NYSE:MTRN traded up $0.32 during trading hours on Wednesday, hitting $55.38. 100,384 shares of the company’s stock traded hands, compared to its average volume of 111,505. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of 32.20 and a beta of 0.94. Materion has a twelve month low of $42.10 and a twelve month high of $65.10. The company has a current ratio of 3.48, a quick ratio of 1.69 and a debt-to-equity ratio of 0.04.
Materion Company Profile
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 through Performance Alloys and Composites, Advanced Materials, and Precision Coatings segments.
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