Materion Corp. (NYSE:MTRN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The firm presently has a $34.00 price target on the stock. Zacks Investment Research’s price target would suggest a potential upside of 10.97% from the company’s previous close.
According to Zacks, “Materion Corporation, formerly known as Brush Engineered Materials Inc., through its wholly-owned subsidiaries is engaged in the production and supply of high-performance engineered materials in the United States and internationally. Products offered by the Company comprise precious and non-precious specialty metals, inorganic chemicals and powders, specialty coatings, specialty engineered beryllium alloys, beryllium and beryllium composites, and engineered clad and plated metal systems. Materion Corporation is headquartered in Mayfield Heights, Ohio. “
Several other brokerages have also recently issued reports on MTRN. TheStreet upgraded Materion Corp. from a “hold” rating to a “buy” rating in a research note on Thursday, August 18th. Jefferies Group restated a “hold” rating on shares of Materion Corp. in a research note on Saturday, October 1st.
Materion Corp. (NYSE:MTRN) traded down 0.49% on Wednesday, reaching $30.49. The company had a trading volume of 6,695 shares. The stock’s 50 day moving average is $29.94 and its 200-day moving average is $26.96. Materion Corp. has a 1-year low of $20.62 and a 1-year high of $35.21. The stock has a market capitalization of $608.79 million, a P/E ratio of 24.59 and a beta of 1.35.
Materion Corp. (NYSE:MTRN) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. Materion Corp. had a return on equity of 5.55% and a net margin of 2.60%. The company earned $249.80 million during the quarter, compared to analysts’ expectations of $235.29 million. During the same period last year, the business posted $0.43 earnings per share. The firm’s revenue was down 9.8% compared to the same quarter last year. On average, equities analysts predict that Materion Corp. will post $1.34 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in MTRN. Vanguard Group Inc. raised its stake in Materion Corp. by 4.2% in the second quarter. Vanguard Group Inc. now owns 1,667,333 shares of the company’s stock valued at $41,284,000 after buying an additional 67,394 shares during the period. Dimensional Fund Advisors LP raised its stake in Materion Corp. by 9.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,530,370 shares of the company’s stock valued at $37,891,000 after buying an additional 132,892 shares during the period. BlackRock Fund Advisors raised its stake in Materion Corp. by 4.0% in the second quarter. BlackRock Fund Advisors now owns 1,309,369 shares of the company’s stock valued at $32,420,000 after buying an additional 50,518 shares during the period. State Street Corp raised its stake in Materion Corp. by 28.1% in the second quarter. State Street Corp now owns 1,147,240 shares of the company’s stock valued at $28,403,000 after buying an additional 251,833 shares during the period. Finally, Gamco Investors INC. ET AL raised its stake in Materion Corp. by 4.5% in the second quarter. Gamco Investors INC. ET AL now owns 813,900 shares of the company’s stock valued at $20,152,000 after buying an additional 35,200 shares during the period. Hedge funds and other institutional investors own 90.74% of the company’s stock.
About Materion Corp.
Materion Corporation is a holding company. The Company is an integrated producer of engineered materials used in a range of electrical, electronic, thermal and structural applications. The Company’s products are sold in markets, including consumer electronics, industrial components, medical, automotive electronics, energy, telecommunications infrastructure, defense and commercial aerospace.
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