Materion (NYSE:MTRN) Issues FY 2024 Earnings Guidance

Materion (NYSE:MTRN) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 5.600-5.900 for the period, compared to the consensus EPS estimate of 5.800. The company issued revenue guidance of -.

Materion Stock Performance

Shares of NYSE MTRN traded up $11.30 during midday trading on Tuesday, reaching $114.71. 116,159 shares of the company traded hands, compared to its average volume of 102,165. Materion has a 52 week low of $92.23 and a 52 week high of $145.08. The stock has a 50-day moving average price of $110.99 and a 200 day moving average price of $119.16. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.91 and a quick ratio of 1.07. The company has a market cap of $2.38 billion, a price-to-earnings ratio of 28.25 and a beta of 1.19.

Materion (NYSE:MTRN) last issued its quarterly earnings data on Monday, August 5th. The basic materials company reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. Materion had a net margin of 5.19% and a return on equity of 12.32%. The business had revenue of $425.87 million for the quarter, compared to analysts’ expectations of $424.02 million. During the same period in the previous year, the business earned $1.38 earnings per share. The company’s revenue was up 6.9% on a year-over-year basis. Sell-side analysts anticipate that Materion will post 5.75 earnings per share for the current fiscal year.

Materion Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Thursday, May 23rd were issued a dividend of $0.135 per share. This is a positive change from Materion’s previous quarterly dividend of $0.13. This represents a $0.54 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend was Wednesday, May 22nd. Materion’s payout ratio is presently 13.53%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MTRN. KeyCorp lowered their target price on Materion from $156.00 to $152.00 and set an overweight rating on the stock in a report on Friday, May 10th. StockNews.com cut Materion from a hold rating to a sell rating in a research note on Wednesday, July 31st.

Insiders Place Their Bets

In other Materion news, Director Emily M. Liggett sold 1,152 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $111.86, for a total transaction of $128,862.72. Following the completion of the sale, the director now directly 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 is available at this hyperlink. In other 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 transaction of $128,862.72. Following the completion of the sale, the director now directly owns 2,621 shares in the company, valued at approximately $293,185.06. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Gregory R. Chemnitz sold 2,000 shares of Materion stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $113.31, for a total value of $226,620.00. Following 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. Corporate insiders own 2.30% of the company’s stock.

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.