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

Materion (NYSE:MTRN) announced its quarterly earnings data 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. The firm had revenue of $385.29 million for the quarter, compared to the consensus estimate of $386.84 million. Materion had a net margin of 5.75% and a return on equity of 13.49%. The firm’s revenue for the quarter was down 12.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.34 earnings per share. 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 2.4 %

NYSE:MTRN traded down $2.81 during midday trading on Thursday, reaching $112.21. 79,720 shares of the stock traded hands, compared to its average volume of 97,548. Materion has a 12-month low of $92.23 and a 12-month high of $145.08. The business has a 50-day moving average of $127.81 and a two-hundred day moving average of $120.47. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.05 and a current ratio of 2.78. The stock has a market capitalization of $2.33 billion, a PE ratio of 25.11 and a beta of 1.17.

Insider Activity at Materion

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

Wall Street Analysts Forecast Growth

Separately, KeyCorp dropped their target price on shares of Materion from $157.00 to $156.00 and set an “overweight” rating on the stock 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.