Fintel reports that on October 6, 2023, Keybanc maintained coverage of Materion (NYSE:MTRN) with a Overweight recommendation.
Analyst Price Forecast Suggests 42.61% Upside
As of October 5, 2023, the average one-year price target for Materion is 136.68. The forecasts range from a low of 131.30 to a high of $147.00. The average price target represents an increase of 42.61% from its latest reported closing price of 95.84.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Materion is 1,834MM, an increase of 7.64%. The projected annual non-GAAP EPS is 5.80.
Materion Declares $0.13 Dividend
On August 9, 2023 the company declared a regular quarterly dividend of $0.13 per share ($0.52 annualized). Shareholders of record as of August 25, 2023 received the payment on September 7, 2023. Previously, the company paid $0.13 per share.
At the current share price of $95.84 / share, the stock's dividend yield is 0.54%.
Looking back five years and taking a sample every week, the average dividend yield has been 0.68%, the lowest has been 0.41%, and the highest has been 1.40%. The standard deviation of yields is 0.15 (n=236).
The current dividend yield is 0.92 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.11. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.13%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 511 funds or institutions reporting positions in Materion. This is a decrease of 16 owner(s) or 3.04% in the last quarter. Average portfolio weight of all funds dedicated to MTRN is 0.21%, a decrease of 5.64%. Total shares owned by institutions decreased in the last three months by 2.96% to 23,127K shares. 
The put/call ratio of MTRN is 0.13, indicating a bullish outlook.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 1,445K shares representing 7.00% ownership of the company. In it's prior filing, the firm reported owning 1,494K shares, representing a decrease of 3.34%. The firm decreased its portfolio allocation in MTRN by 7.75% over the last quarter.
Capital Research Global Investors holds 1,366K shares representing 6.62% ownership of the company. No change in the last quarter.
SMCWX - SMALLCAP WORLD FUND INC holds 1,314K shares representing 6.37% ownership of the company. No change in the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 641K shares representing 3.11% ownership of the company. In it's prior filing, the firm reported owning 632K shares, representing an increase of 1.42%. The firm decreased its portfolio allocation in MTRN by 7.86% over the last quarter.
Trigran Investments holds 589K shares representing 2.85% ownership of the company. In it's prior filing, the firm reported owning 545K shares, representing an increase of 7.55%. The firm increased its portfolio allocation in MTRN by 174.37% over the last quarter.
Materion Background Information
(This description is provided by the company.)
Materion Corporation is headquartered in Mayfield Heights, Ohio. The Company, through its wholly owned subsidiaries, supplies highly engineered advanced enabling materials to global markets. Its unique product portfolio includes high performance alloys, beryllium products, clad metal strip, composite metals, ceramics, inorganic chemicals, microelectronics packaging materials, precision optics, thin film coatings, and thin film deposition materials.
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This story originally appeared on Fintel.
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