Materion (NYSE:MTRN) Releases FY24 Earnings Guidance

Materion (NYSE:MTRN) updated its FY24 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $5.60-5.90 for the period, compared to the consensus estimate of $5.80.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. StockNews.com downgraded Materion from a hold rating to a sell rating in a report on Wednesday, July 31st. KeyCorp reduced their target price on Materion from $156.00 to $152.00 and set an overweight rating on the stock in a report on Friday, May 10th.

Materion Stock Down 3.8 %

MTRN stock traded down $4.07 during midday trading on Monday, hitting $103.41. The company’s stock had a trading volume of 131,531 shares, compared to its average volume of 102,071. The company has a market cap of $2.14 billion, a PE ratio of 26.94 and a beta of 1.19. Materion has a 12 month low of $92.23 and a 12 month high of $145.08. The company has a current ratio of 2.91, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50. The firm’s 50-day moving average is $111.22 and its 200-day moving average is $119.28.

Materion Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Thursday, May 23rd were paid a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 0.52%. This is a positive change from Materion’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Wednesday, May 22nd. Materion’s dividend payout ratio is 13.53%.

Insider Transactions at Materion

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

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.