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

Materion (NYSE:MTRN) released its quarterly earnings results on Wednesday. The basic materials company reported $1.41 EPS for the quarter, hitting the consensus estimate of $1.41, Briefing.com reports. The business had revenue of $436.70 million during the quarter, compared to analyst estimates of $416.40 million. Materion had a net margin of 4.45% and a return on equity of 12.06%. The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.39 earnings per share. 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

Shares of Materion stock traded up $3.43 during trading on Friday, hitting $105.06. 83,898 shares of the stock were exchanged, compared to its average volume of 98,551. The stock’s fifty day moving average is $106.88 and its 200 day moving average is $110.65. The stock has a market cap of $2.18 billion, a PE ratio of 29.59 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 3.15. Materion has a 12 month low of $96.18 and a 12 month high of $145.08.

Materion Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Thursday, November 14th will be given a dividend of $0.135 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.54 annualized dividend and a dividend yield of 0.51%. Materion’s dividend payout ratio is currently 15.21%.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Materion from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th.

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.