Materion Co. (NYSE:MTRN – Get Rating) was the target of a significant decline in short interest in December. As of December 15th, there was short interest totalling 385,600 shares, a decline of 5.8% from the November 30th total of 409,500 shares. Currently, 1.9% of the company's shares are short sold. Based on an average daily volume of 135,700 shares, the days-to-cover ratio is currently 2.8 days.
Analyst Ratings Changes
Several equities research analysts have recently commented on the company. KeyCorp boosted their price objective on Materion from $90.00 to $92.00 and gave the company an "overweight" rating in a report on Wednesday, December 21st. StockNews.com assumed coverage on Materion in a report on Wednesday, October 12th. They set a "hold" rating for the company.
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Materion Trading Up 0.4 %
Shares of Materion stock opened at $87.88 on Wednesday. The stock has a fifty day simple moving average of $81.83 and a 200 day simple moving average of $81.43. Materion has a 12-month low of $64.89 and a 12-month high of $97.89. The company has a market capitalization of $1.80 billion, a P/E ratio of 23.69 and a beta of 1.12. The company has a current ratio of 3.51, a quick ratio of 1.43 and a debt-to-equity ratio of 0.64.
Materion (NYSE:MTRN – Get Rating) last announced its quarterly earnings results on Wednesday, November 2nd. The basic materials company reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.45 by ($0.26). Materion had a return on equity of 13.42% and a net
margin of 4.47%. The company had revenue of $428.19 million for the quarter, compared to the consensus estimate of $452.30 million. On average, sell-side analysts anticipate that Materion will post 5.19 earnings per share for the current fiscal year.
Materion Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 8th. Shareholders of record on Wednesday, November 16th were given a $0.125 dividend. The ex-dividend date was Tuesday, November 15th. This represents a $0.50 annualized dividend and a yield of 0.57%. Materion's dividend payout ratio is currently 13.48%.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of MTRN. Whittier Trust Co. purchased a new position in Materion in the third quarter worth $40,000. Huntington National Bank boosted its position in Materion by 100,000.0% in the third quarter. Huntington National Bank now owns 1,001 shares of the basic materials company's stock worth $80,000 after purchasing an additional 1,000 shares during the last quarter. Ellevest Inc. boosted its position in Materion by 264.7% in the second quarter. Ellevest Inc. now owns 1,178 shares of the basic materials company's stock worth $87,000 after purchasing an additional 855 shares during the last quarter. First Horizon Advisors Inc. boosted its position in Materion by 1,385.4% in the second quarter. First Horizon Advisors Inc. now owns 1,426 shares of the basic materials company's stock worth $104,000 after purchasing an additional 1,330 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in Materion in the second quarter worth $111,000. Hedge funds and other institutional investors own 95.66% of the company's stock.
Materion Company Profile
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Materion Corporation, through 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. It operates through Performance Alloys and Composites, Advanced Materials, and Precision Optics segments.
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