Materion (NYSE:MTRN) Shares Gap Down on Disappointing Earnings

Materion Co. (NYSE:MTRN)’s share price gapped down prior to trading on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $115.02, but opened at $109.10. Materion shares last traded at $109.17, with a volume of 20,343 shares traded.

The basic materials company reported $0.96 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.02). Materion had a return on equity of 13.49% and a net margin of 5.75%. The business had revenue of $385.29 million for the quarter, compared to analyst estimates of $386.84 million. During the same quarter last year, the company earned $1.34 EPS. The business’s revenue for the quarter was down 12.9% compared to the same quarter last year.

Analysts Set New Price Targets

Separately, KeyCorp decreased their price target on Materion from $157.00 to $156.00 and set an “overweight” rating for the company in a research note on Monday, April 1st.

Insider Activity

In related news, CFO Shelly Marie Chadwick sold 2,000 shares of the company’s 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 completion of the sale, the chief financial officer now directly owns 13,147 shares of the company’s stock, valued at approximately $1,743,292.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Materion news, CFO Shelly Marie Chadwick sold 2,000 shares of Materion stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $132.60, for a total value of $265,200.00. Following the transaction, the chief financial officer now directly owns 13,147 shares of the company’s stock, valued at approximately $1,743,292.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Gregory R. Chemnitz sold 3,000 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $133.74, for a total value of $401,220.00. Following the completion of the sale, the vice president now directly owns 14,510 shares of the company’s stock, valued at $1,940,567.40. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.

Institutional Trading of Materion

Several institutional investors have recently made changes to their positions in MTRN. CENTRAL TRUST Co grew its holdings in shares of Materion by 529.0% in the 4th quarter. CENTRAL TRUST Co now owns 195 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 164 shares during the last quarter. Quest Partners LLC bought a new stake in shares of Materion during the fourth quarter worth $44,000. SRS Capital Advisors Inc. increased its stake in shares of Materion by 285.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 428 shares of the basic materials company’s stock valued at $56,000 after buying an additional 317 shares in the last quarter. Anchor Investment Management LLC bought a new position in shares of Materion in the fourth quarter valued at about $137,000. Finally, AdvisorNet Financial Inc grew its holdings in Materion by 189.6% during the 4th quarter. AdvisorNet Financial Inc now owns 1,222 shares of the basic materials company’s stock worth $159,000 after acquiring an additional 800 shares during the last quarter. 93.56% of the stock is currently owned by institutional investors and hedge funds.

Materion Stock Down 3.3 %

The firm’s 50-day moving average is $127.81 and its two-hundred day moving average is $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 cap of $2.31 billion, a P/E ratio of 25.11 and a beta of 1.17.

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.