Materion (NYSE:MTRN) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Materion (NYSE:MTRN) released its quarterly earnings data on Monday. The basic materials company reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03, Briefing.com reports. The company had revenue of $425.87 million during the quarter, compared to analyst estimates of $424.02 million. Materion had a net margin of 5.19% and a return on equity of 12.32%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.38 earnings per share. Materion updated its FY24 guidance to $5.60-5.90 EPS.

Materion Stock Performance

MTRN traded down $4.48 during trading on Wednesday, reaching $110.17. 93,966 shares of the company’s stock were exchanged, compared to its average volume of 102,819. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.91 and a quick ratio of 1.07. The company’s fifty day simple moving average is $111.00 and its 200-day simple moving average is $119.13. Materion has a 1 year low of $92.23 and a 1 year high of $145.08. The stock has a market capitalization of $2.28 billion, a P/E ratio of 27.82 and a beta of 1.19.

Materion Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Thursday, May 23rd were given a $0.135 dividend. The ex-dividend date of this dividend was Wednesday, May 22nd. This represents a $0.54 dividend on an annualized basis and a yield of 0.49%. This is a positive change from Materion’s previous quarterly dividend of $0.13. Materion’s dividend payout ratio is currently 13.53%.

Insider Activity at Materion

In other news, VP Gregory R. Chemnitz sold 2,000 shares of Materion stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $113.31, for a total transaction of $226,620.00. Following the completion of the transaction, the vice president now directly owns 18,031 shares of the company’s stock, valued at approximately $2,043,092.61. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Emily M. Liggett sold 1,152 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $111.86, for a total value of $128,862.72. Following the transaction, the director now directly owns 2,621 shares of the company’s stock, valued at approximately $293,185.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Gregory R. Chemnitz sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $113.31, for a total value of $226,620.00. Following the sale, the vice president now owns 18,031 shares of the company’s stock, valued at $2,043,092.61. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

MTRN has been the topic of a number of recent research reports. KeyCorp dropped their price objective on shares of Materion from $156.00 to $152.00 and set an “overweight” rating on the stock in a research note on Friday, May 10th. StockNews.com cut Materion from a “hold” rating to a “sell” rating in a research report on Wednesday, July 31st.

About Materion

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.