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

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

Materion Price Performance

Shares of Materion stock traded down $1.32 on Wednesday, reaching $113.33. 31,008 shares of the stock were exchanged, compared to its average volume of 102,402. The firm’s 50 day moving average is $111.00 and its 200-day moving average is $119.13. The firm has a market cap of $2.35 billion, a PE ratio of 28.76 and a beta of 1.19. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 2.91. Materion has a one year low of $92.23 and a one year high of $145.08.

Materion Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Thursday, May 23rd were paid a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 0.48%. This is an increase from Materion’s previous quarterly dividend of $0.13. The ex-dividend date was Wednesday, May 22nd. Materion’s dividend payout ratio is presently 13.53%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on MTRN shares. KeyCorp cut their target price on shares of Materion from $156.00 to $152.00 and set an “overweight” rating for the company in a research note on Friday, May 10th. StockNews.com downgraded shares of Materion from a “hold” rating to a “sell” rating in a report on Wednesday, July 31st.

Insider Buying and Selling at Materion

In other Materion news, Director Emily M. Liggett sold 1,152 shares of Materion stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $111.86, for a total value of $128,862.72. Following the transaction, the director now owns 2,621 shares in the company, valued at $293,185.06. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Emily M. Liggett sold 1,152 shares of the business’s stock in a transaction that occurred on 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 owns 2,621 shares in the company, valued at approximately $293,185.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Gregory R. Chemnitz sold 2,000 shares of Materion 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 completion of 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. Company insiders own 2.30% of the company’s stock.

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.