Materion (NYSE:MTRN) Releases Quarterly Earnings Results, Meets Estimates

Materion (NYSE:MTRN - Get Free Report) posted its quarterly earnings data on Wednesday. The basic materials company reported $1.41 earnings per share for the quarter, hitting analysts' consensus estimates of $1.41, Briefing.com reports. The firm had revenue of $436.70 million during the quarter, compared to analysts' expectations of $416.40 million. Materion had a return on equity of 12.20% and a net margin of 4.80%. The business's quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.39 EPS. Materion updated its FY 2024 guidance to 5.200-5.400 EPS and its FY24 guidance to $5.20-5.40 EPS.

Materion Stock Performance

MTRN stock traded down $3.54 during midday trading on Thursday, reaching $101.77. The stock had a trading volume of 88,035 shares, compared to its average volume of 98,621. The stock has a market cap of $2.11 billion, a PE ratio of 25.72 and a beta of 1.17. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.21 and a current ratio of 3.25. The firm has a fifty day simple moving average of $107.39 and a two-hundred day simple moving average of $110.85. Materion has a 52-week low of $96.08 and a 52-week high of $145.08.

Materion Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Thursday, November 14th will be paid a $0.135 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.54 dividend on an annualized basis and a yield of 0.53%. Materion's dividend payout ratio (DPR) is 13.53%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Materion from a "sell" rating to a "hold" rating in a research note on Thursday, August 8th.

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.