Materion Corporation
- Open
- 230.45
- Day high
- 231.06
- Day low
- 225.89
- Prev close
- 236.08
- Volume
- 9K
- Mkt cap
- $4.8B
- P/E (TTM)
- 53.2
- EPS (TTM)
- $4.34
- P/B
- 4.8
- P/S
- 2.3
- Yield
- 0.25%
- Per share
- $0.57
- ▼Insiders net selling -$8.7M over the last 3 months (0 open-market buys, 10 sales)
- 🏛Institutions accumulating (13F)
Materion Corporation (MTRN) is a Basic Materials company listed on NYSE. The stock is up 112% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 10 sales (SEC Form 4).
Materion Corporation (MTRN) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
MTRN earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 5, 2026 | $1.52 | $1.90 | +25.0% | $614M | +11.7% |
| Apr 29, 2026 | $1.24 | $1.27 | +2.4% | $550M | +14.8% |
| Feb 12, 2026 | $1.51 | $1.53 | +1.3% | $490M | +0.6% |
| Oct 29, 2025 | $1.41 | $1.41 | +0.0% | $438M | -2.3% |
| Jul 30, 2025 | $1.18 | $1.37 | +16.1% | $432M | -2.2% |
| May 1, 2025 | $1.12 | $1.13 | +0.9% | $420M | +1.6% |
| Feb 19, 2025 | $1.43 | $1.55 | +8.4% | $437M | +3.4% |
| Oct 30, 2024 | $1.41 | $1.41 | +0.0% | $437M | +0.4% |
| May 1, 2024 | $0.99 | $0.96 | -2.7% | $385M | -9.3% |
| Feb 15, 2024 | $1.39 | $1.41 | +1.6% | $421M | +0.1% |
| Nov 1, 2023 | $1.42 | $1.51 | +6.4% | $403M | +0.4% |
| Aug 2, 2023 | $1.36 | $1.38 | +1.2% | $399M | -9.8% |
MTRN insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 11, 2026 | Vijayvargiya Jugal K.director, officer: President and CEO | Sell | 286 | $295.17 |
| Aug 11, 2026 | Chadwick Shelly Marieofficer: Vice President, Finance & CFO | Sell | 1,705 | $293.00 |
| Aug 11, 2026 | Chadwick Shelly Marieofficer: Vice President, Finance & CFO | Option | 2,800 | $135.58 |
| Aug 11, 2026 | Solomon Darlene J. S.director | Sell | 3,705 | $292.22 |
| Aug 11, 2026 | Vijayvargiya Jugal K.director, officer: President and CEO | Option | 24,594 | $68.82 |
| Aug 11, 2026 | Vijayvargiya Jugal K.director, officer: President and CEO | Sell | 2,337 | $293.64 |
| Aug 11, 2026 | Chadwick Shelly Marieofficer: Vice President, Finance & CFO | Tax | 3,267 | $293.40 |
| Aug 11, 2026 | Vijayvargiya Jugal K.director, officer: President and CEO | Tax | 13,146 | $296.00 |
| Aug 11, 2026 | Vijayvargiya Jugal K.director, officer: President and CEO | Sell | 11,174 | $290.12 |
| Aug 11, 2026 | Vijayvargiya Jugal K.director, officer: President and CEO | Sell | 1,375 | $287.67 |
| Aug 11, 2026 | Chadwick Shelly Marieofficer: Vice President, Finance & CFO | Option | 2,172 | $87.36 |
| Aug 11, 2026 | Vijayvargiya Jugal K.director, officer: President and CEO | Sell | 3,745 | $292.46 |
| Aug 11, 2026 | Vijayvargiya Jugal K.director, officer: President and CEO | Sell | 267 | $293.24 |
| Aug 11, 2026 | Vijayvargiya Jugal K.director, officer: President and CEO | Sell | 4,865 | $294.45 |
| Aug 11, 2026 | Vijayvargiya Jugal K.director, officer: President and CEO | Sell | 287 | $288.29 |
Source: MTRN SEC Form 4 filings, latest Aug 11, 2026. For informational purposes only — not investment advice.
See the full MTRN insider & 13F page →Materion Corporation company profile
Overview
Materion Corporation (NYSE:MTRN) is a specialized materials science company that has been operating since 1931, originally founded as Brush Engineered Materials Inc. before rebranding in 2011. Headquartered in Mayfield Heights, Ohio, the company has evolved from its origins as a beryllium mining and processing operation into a diversified advanced materials manufacturer serving critical technology sectors including semiconductors, aerospace and defense, automotive, and telecommunications. The company operates globally with facilities across the United States, Asia, and Europe, positioning itself as a key supplier of engineered materials that enable cutting-edge technologies in multiple industries.
Business
Materion operates in the advanced engineered materials industry, producing specialized alloys, chemicals, and optical components that are essential for high-performance applications across multiple technology sectors. The company's products are typically used in situations where standard materials cannot withstand extreme conditions or meet precise performance requirements. The company operates through three main business segments: Performance Alloys and Composites represents the largest segment, generating approximately 60% of total revenue. This division produces advanced engineered solutions comprising beryllium-containing and non-beryllium alloy systems. Beryllium is a rare, lightweight metal with exceptional thermal and electrical conductivity properties, making it invaluable for aerospace, defense, and telecommunications applications. The segment manufactures custom engineered parts in various forms including strip, bulk, rod, plate, bar, and tube configurations. Notably, Materion operates the only bertrandite ore mine and refinery in the United States, located in Utah, which provides the beryllium hydroxide feedstock for its operations and external sales. Electronic Materials accounts for roughly 25% of revenue and focuses on advanced chemicals and microelectronics packaging materials. This segment produces vapor deposition targets, which are thin films used in semiconductor manufacturing to create the microscopic circuits on computer chips. The division also manufactures frame lid assemblies for semiconductor packaging, precious metal preforms, high-temperature brazing materials, and ultra-pure wire used in electronic applications. Precision Optics represents approximately 15% of revenue and specializes in designing and producing precision thin film coatings, optical filters, and assemblies. These products are used in applications ranging from defense systems and scientific instruments to consumer electronics and telecommunications equipment, where precise control of light transmission and reflection is critical.
Revenue model
Materion generates revenue primarily through direct product sales to original equipment manufacturers (OEMs) and their suppliers across various high-technology industries. The company's business model is built on providing engineered solutions that are often custom-designed for specific customer applications, which allows for premium pricing due to the specialized nature of the products and the technical expertise required. The company's customers include major aerospace manufacturers like Boeing and Lockheed Martin, semiconductor equipment companies, defense contractors, automotive suppliers, and telecommunications infrastructure providers. Revenue is generated through both long-term supply agreements and shorter-term project-based contracts, with some customers requiring multi-year commitments due to the critical nature of the materials in their applications. Several factors significantly impact Materion's margins and profitability. Commodity price volatility affects the company since it uses precious metals and other raw materials whose prices fluctuate with global markets. End-market cyclicality particularly impacts the semiconductor segment, which experiences periodic inventory corrections and demand fluctuations tied to technology upgrade cycles. Aerospace and defense spending provides more stable, long-term revenue streams but can be affected by government budget cycles and geopolitical tensions. The company benefits from high switching costs since customers typically require extensive qualification processes for critical materials, creating customer stickiness. Operational leverage is significant due to the capital-intensive nature of the business, meaning that incremental sales flow through to margins at high rates once fixed costs are covered. However, trade tensions and tariffs can impact costs, particularly given the company's global supply chain and manufacturing footprint in Asia.
Competitive moat
Materion possesses several competitive advantages that create a meaningful but not insurmountable moat. The company's strongest moat comes from its unique position as the sole domestic producer of beryllium in the United States, operating the only bertrandite mine and refinery in the country. This vertical integration provides supply security for critical defense and aerospace applications where domestic sourcing is preferred or required. The company also benefits from high customer switching costs due to extensive qualification processes required for materials used in critical applications. In aerospace and defense applications, materials must undergo years of testing and certification before approval, creating significant barriers to customer defection. Similarly, semiconductor customers invest substantial time and resources in qualifying materials for their manufacturing processes. Technical expertise and R&D capabilities provide another layer of competitive protection. Materion's deep knowledge of materials science, particularly in beryllium alloys and advanced thin-film technologies, is difficult to replicate quickly. The company's ability to develop custom solutions for specific customer applications creates value that extends beyond commodity pricing. However, the moat faces several potential threats. Substitution risk exists as customers continuously seek alternative materials that may offer better performance or lower costs. The semiconductor industry's rapid pace of innovation means new materials and processes could potentially displace current solutions. Regulatory pressures around beryllium handling and environmental concerns could impact operations. Additionally, customer concentration in certain segments means that losing major customers could significantly impact the business. The competitive landscape includes both large diversified materials companies and smaller specialized firms, though few competitors match Materion's specific combination of beryllium expertise and advanced materials capabilities.
Risks & safety
Materion presents a moderate margin of safety with some financial strengths offset by cyclical business characteristics and modest leverage. • Solvency and Liquidity: Current ratio of 2.84x and cash position of $16.7 million provide adequate short-term liquidity. Debt-to-equity ratio of 0.60x represents manageable leverage levels. • Cash Generation: Operating cash flow of $88 million in 2024 demonstrates solid cash generation capability, though free cash flow was minimal at $7 million due to capital investments. • Valuation Metrics: Trading at 24.5x trailing P/E and 20.7x EV/EBITDA, suggesting full valuation relative to current earnings. Graham number of $28.62 indicates potential overvaluation at current price of $84.25. • Other Considerations: Business cyclicality creates earnings volatility, particularly in semiconductor-exposed segments. Strong market positions in aerospace and defense provide some stability, but overall financial safety is moderate rather than exceptional.
Recent development
Over the past few years, Materion has executed several strategic initiatives focused on portfolio optimization and market diversification. The company has been actively divesting non-core assets, including the sale of its architectural glass business facility in Albuquerque and the closure of underperforming facilities in Asia, particularly in Suzhou, China. These moves are part of a broader effort to streamline operations and focus resources on higher-margin, strategic businesses. Capacity expansion in key growth areas has been a major focus, with significant investments in aerospace and defense capabilities. The company secured a $150 million multiyear agreement for space propulsion systems and has tripled its space market sales over two years. Materion has also invested $10 million in new capacity specifically for aerospace and defense applications. In the semiconductor sector, the company has been expanding its atomic layer deposition (ALD) product portfolio and strengthening partnerships with major semiconductor processing equipment suppliers. Despite market headwinds from inventory corrections, Materion has maintained its technology development efforts and received supplier excellence awards from key customers. The company has established new strategic partnerships in clean energy applications, including agreements with Idaho National Labs and partnerships in nuclear microreactor development. These initiatives represent diversification into emerging energy technologies while leveraging existing materials expertise. Operational excellence initiatives have included reducing over 150 positions while simultaneously increasing R&D spending to nearly $30 million annually. The company has also raised its midterm EBITDA margin target from 20% to 23%, reflecting confidence in its ability to improve operational efficiency and product mix.
MTRN company profile · for informational purposes only — not investment advice.
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