Materion (NYSE:MTRN) Shares Break Below 200 Day Moving Average – Time to Sell?

Materion Corporation (NYSE:MTRN – Get Free Report)’s stock price crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $212.48 and traded as low as $175.30. Materion shares last traded at $186.2060, with a volume of 806,799 shares traded.

Analyst Upgrades and Downgrades

MTRN has been the topic of a number of research reports. Seaport Research Partners upgraded Materion from a “neutral” rating to a “buy” rating and set a $250.00 price objective on the stock in a report on Thursday. Weiss Ratings cut Materion from a “buy (b-)” rating to a “hold (c)” rating in a report on Thursday, October 29th. KeyCorp dropped their target price on shares of Materion from $306.00 to $232.00 and set an “overweight” rating for the company in a research report on Thursday. Jefferies Financial Group assumed coverage on shares of Materion in a report on Wednesday, September 2nd. They issued a “buy” rating and a $314.00 price target on the stock. Finally, Zacks Research lowered shares of Materion from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Materion currently has an average rating of “Moderate Buy” and an average price target of $273.00.

View Our Latest Analysis on MTRN

Materion Trading Up 5.0%

The firm has a market cap of $3.88 billion, a price-to-earnings ratio of 38.17 and a beta of 1.10. The company has a quick ratio of 1.29, a current ratio of 2.94 and a debt-to-equity ratio of 0.44. The business has a 50 day moving average price of $249.41 and a 200-day moving average price of $212.83.

Materion (NYSE:MTRN – Get Free Report) last released its quarterly earnings results on Wednesday, November 4th. The basic materials company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.04. Materion had a return on equity of 13.38% and a net margin of 4.29%. The firm had revenue of $313.66 million during the quarter, compared to analysts’ expectations of $611.38 million. During the same quarter in the prior year, the business earned $1.41 EPS. Materion’s quarterly revenue was up 27.5% compared to the same quarter last year. As a group, research analysts expect that Materion Corporation will post 7.28 EPS for the current fiscal year.

Materion Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Thursday, November 19th will be issued a dividend of $0.1450 per share. This represents a $0.58 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Thursday, November 19th. Materion’s dividend payout ratio (DPR) is currently 11.89%.

Insider Activity

In related news, Director Vinod M. Khilnani sold 2,000 shares of Materion stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $235.16, for a total value of $470,320.00. Following the completion of the transaction, the director directly owned 11,171 shares in the company, valued at approximately $2,626,972.36. This trade represents a 15.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Emily M. Liggett sold 1,012 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $232.42, for a total value of $235,209.04. Following the completion of the sale, the director directly owned 3,161 shares of the company’s stock, valued at approximately $734,679.62. This represents a 24.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Materion

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Materion during the 2nd quarter worth about $1,032,985,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Materion during the second quarter valued at approximately $1,338,000. Bank of America Corp DE raised its holdings in Materion by 8.7% during the first quarter. Bank of America Corp DE now owns 118,569 shares of the basic materials company’s stock worth $17,151,000 after purchasing an additional 9,441 shares in the last quarter. Raiffeisen Bank International AG bought a new stake in Materion during the second quarter worth approximately $17,982,000. Finally, California State Teachers Retirement System lifted its position in Materion by 25.0% in the first quarter. California State Teachers Retirement System now owns 24,612 shares of the basic materials company’s stock worth $3,560,000 after purchasing an additional 4,926 shares during the period. 93.56% of the stock is owned by institutional investors and hedge funds.

About Materion

(Get Free Report)

Materion Corporation is an advanced materials company that develops, manufactures and supplies engineered materials for demanding applications. Its product portfolio includes beryllium and beryllium-aluminum alloys, specialty metals, precious-metal and clad materials, thin-film coating materials, optical filters and other precision components.

The company’s materials and products are used in aerospace and defense, semiconductor manufacturing, communications, medical technology, energy, automotive and other industrial markets.

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