Fintel reports that on July 5, 2023, Seaport Global initiated coverage of Materion (NYSE:MTRN) with a Buy recommendation.
Analyst Price Forecast Suggests 14.91% Upside
As of July 6, 2023, the average one-year price target for Materion is 132.26. The forecasts range from a low of 129.28 to a high of $137.55. The average price target represents an increase of 14.91% from its latest reported closing price of 115.10.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Materion is 1,834MM, an increase of 4.76%. The projected annual non-GAAP EPS is 5.80.
Materion Declares $0.13 Dividend
On May 17, 2023 the company declared a regular quarterly dividend of $0.13 per share ($0.52 annualized). Shareholders of record as of May 31, 2023 received the payment on June 15, 2023. Previously, the company paid $0.12 per share.
At the current share price of $115.10 / share, the stock's dividend yield is 0.45%.
Looking back five years and taking a sample every week, the average dividend yield has been 0.69%, the lowest has been 0.43%, and the highest has been 1.40%. The standard deviation of yields is 0.14 (n=236).
The current dividend yield is 1.68 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 0.09%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 527 funds or institutions reporting positions in Materion. This is an increase of 32 owner(s) or 6.46% in the last quarter. Average portfolio weight of all funds dedicated to MTRN is 0.22%, an increase of 2.60%. Total shares owned by institutions decreased in the last three months by 2.14% to 23,833K shares. 
The put/call ratio of MTRN is 0.45, indicating a bullish outlook.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 1,494K shares representing 7.25% ownership of the company. In it's prior filing, the firm reported owning 1,521K shares, representing a decrease of 1.84%. The firm increased its portfolio allocation in MTRN by 26.48% over the last quarter.
Capital Research Global Investors holds 1,366K shares representing 6.63% ownership of the company. In it's prior filing, the firm reported owning 1,090K shares, representing an increase of 20.20%. The firm increased its portfolio allocation in MTRN by 56.86% over the last quarter.
SMCWX - SMALLCAP WORLD FUND INC holds 1,314K shares representing 6.38% ownership of the company. In it's prior filing, the firm reported owning 1,033K shares, representing an increase of 21.40%. The firm increased its portfolio allocation in MTRN by 57.55% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 632K shares representing 3.07% ownership of the company. In it's prior filing, the firm reported owning 620K shares, representing an increase of 1.92%. The firm increased its portfolio allocation in MTRN by 24.79% over the last quarter.
Trigran Investments holds 545K shares representing 2.64% ownership of the company. In it's prior filing, the firm reported owning 543K shares, representing an increase of 0.26%. The firm decreased its portfolio allocation in MTRN by 50.29% 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.
Additional reading:
- Materion Corporation Reports Record First Quarter 2023 Results and Raises 2023 Outlook
- MATERION and SUBSIDIARIES
- MATERION CORPORATION Performance-Based Restricted Stock Units Agreement
- MATERION CORPORATION Restricted Stock Units Agreement (Stock-Settled)
- MATERION CORPORATION Appreciation Rights Agreement
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
