Materion (NYSE:MTRN) Shares Gap Down to $109.82

Materion Co. (NYSE:MTRN - Get Free Report) shares gapped down before the market opened on Wednesday . The stock had previously closed at $109.82, but opened at $107.14. Materion shares last traded at $103.69, with a volume of 11,745 shares.

Wall Street Analyst Weigh In

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

Materion Stock Down 11.7 %

The firm's fifty day simple moving average is $111.28 and its 200 day simple moving average is $114.42. The company has a market cap of $2.01 billion, a price-to-earnings ratio of 24.71 and a beta of 1.18. The company has a current ratio of 3.25, a quick ratio of 1.21 and a debt-to-equity ratio of 0.51.

Materion (NYSE:MTRN - Get Free Report) last posted its quarterly earnings results 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. The company had revenue of $425.87 million for the quarter, compared to analysts' expectations of $424.02 million. Materion had a return on equity of 12.20% and a net margin of 4.80%. Materion's quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the firm earned $1.38 earnings per share. Sell-side analysts predict that Materion Co. will post 5.74 earnings per share for the current year.

Materion Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 23rd were issued a dividend of $0.135 per share. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $0.54 dividend on an annualized basis and a yield of 0.56%. Materion's payout ratio is currently 13.53%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Opal Wealth Advisors LLC purchased a new stake in shares of Materion in the 2nd quarter valued at about $25,000. Quest Partners LLC raised its position in Materion by 25,600.0% in the 2nd quarter. Quest Partners LLC now owns 257 shares of the basic materials company's stock valued at $28,000 after purchasing an additional 256 shares during the last quarter. Lynx Investment Advisory acquired a new stake in Materion during the 2nd quarter worth $38,000. Brown Lisle Cummings Inc. purchased a new position in Materion during the 2nd quarter worth $92,000. Finally, SG Americas Securities LLC acquired a new position in Materion in the first quarter valued at $150,000. 93.56% of the stock is owned by hedge funds and other institutional investors.

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.