Materion (NYSE:MTRN) Posts Earnings Results, Misses Estimates By $0.02 EPS

Materion (NYSE:MTRN) issued its earnings results on Wednesday. The basic materials company reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.02), Briefing.com reports. The business had revenue of $385.29 million during the quarter, compared to analyst estimates of $386.84 million. Materion had a net margin of 5.75% and a return on equity of 13.49%. Materion’s revenue for the quarter was down 12.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.34 EPS. Materion updated its FY 2024 guidance to 5.600-6.200 EPS and its FY24 guidance to $5.60-6.20 EPS.

Materion Stock Down 2.7 %

NYSE MTRN traded down $3.15 during trading on Thursday, reaching $111.87. The company’s stock had a trading volume of 66,676 shares, compared to its average volume of 97,444. The company has a current ratio of 2.78, a quick ratio of 1.05 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $2.32 billion, a PE ratio of 25.11 and a beta of 1.17. The business has a 50-day moving average price of $127.81 and a 200-day moving average price of $120.47. Materion has a 1-year low of $92.23 and a 1-year high of $145.08.

Insider Buying and Selling at Materion

In other news, CFO Shelly Marie Chadwick sold 2,000 shares of the business’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 completion of the sale, the chief financial officer now directly owns 13,147 shares in the company, valued at $1,743,292.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Shelly Marie Chadwick sold 2,000 shares of the business’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 completion of the sale, the chief financial officer now directly owns 13,147 shares in the company, valued at $1,743,292.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Gregory R. Chemnitz sold 3,000 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $133.74, for a total transaction of $401,220.00. Following the transaction, the vice president now owns 14,510 shares of the company’s stock, valued at $1,940,567.40. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, KeyCorp reduced their target price on shares of Materion from $157.00 to $156.00 and set an “overweight” rating for the company in a research note 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.