Materion (NYSE:MTRN) Issues Quarterly Earnings Results

Materion (NYSE:MTRN) announced its quarterly 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 net margin of 5.75% and a return on equity of 13.49%. The company had revenue of $385.29 million for the quarter, compared to analyst estimates of $386.84 million. During the same quarter last year, the business earned $1.34 EPS. The company’s revenue for the quarter was down 12.9% on a year-over-year basis. Materion updated its FY 2024 guidance to 5.600-6.200 EPS and its FY24 guidance to $5.60-6.20 EPS.

Materion Stock Performance

Shares of Materion stock traded down $2.81 during midday trading on Thursday, hitting $112.21. The company had a trading volume of 79,720 shares, compared to its average volume of 97,548. The business’s 50 day simple moving average is $127.81 and its two-hundred day simple moving average is $120.47. The stock has a market cap of $2.33 billion, a PE ratio of 25.11 and a beta of 1.17. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.78 and a quick ratio of 1.05. Materion has a 1-year low of $92.23 and a 1-year high of $145.08.

Insider Transactions at Materion

In other news, CFO Shelly Marie Chadwick sold 2,000 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $132.60, for a total value 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 filing with the SEC, which is available at this hyperlink. In related news, CFO Shelly Marie Chadwick sold 2,000 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $132.60, for a total value of $265,200.00. Following the completion of the transaction, the chief financial officer now directly owns 13,147 shares of the company’s stock, valued at $1,743,292.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Gregory R. Chemnitz sold 3,000 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $133.74, for a total value of $401,220.00. Following the completion of the transaction, the vice president now directly owns 14,510 shares of the company’s stock, valued at $1,940,567.40. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, KeyCorp lowered their price target on Materion from $157.00 to $156.00 and set an “overweight” rating on the stock in a report 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.