Segall Bryant & Hamill LLC Reduces Stake in Materion Corporation $MTRN

Segall Bryant & Hamill LLC reduced its stake in Materion Corporation (NYSE:MTRN) by 7.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 334,337 shares of the basic materials company’s stock after selling 26,158 shares during the quarter. Materion makes up approximately 0.6% of Segall Bryant & Hamill LLC’s investment portfolio, making the stock its 23rd largest position. Segall Bryant & Hamill LLC’s holdings in Materion were worth $48,362,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. AQR Capital Management LLC purchased a new position in shares of Materion during the 1st quarter worth $201,000. Millennium Management LLC increased its position in Materion by 54.1% during the first quarter. Millennium Management LLC now owns 89,212 shares of the basic materials company’s stock worth $7,280,000 after purchasing an additional 31,305 shares during the last quarter. Jones Financial Companies Lllp purchased a new position in Materion during the first quarter worth about $34,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Materion by 12.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 54,045 shares of the basic materials company’s stock worth $4,410,000 after purchasing an additional 5,894 shares during the period. Finally, Jane Street Group LLC boosted its holdings in Materion by 44.9% in the 1st quarter. Jane Street Group LLC now owns 35,319 shares of the basic materials company’s stock valued at $2,882,000 after purchasing an additional 10,940 shares during the last quarter. 93.56% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MTRN has been the subject of several analyst reports. KeyCorp increased their price target on shares of Materion from $223.00 to $237.00 and gave the company an “overweight” rating in a research note on Tuesday, June 2nd. Weiss Ratings raised shares of Materion from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 23rd. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $237.00.

Materion Price Performance

Materion stock opened at $211.84 on Friday. The company’s 50 day simple moving average is $246.52 and its 200-day simple moving average is $190.56. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 3.04. Materion Corporation has a 1 year low of $100.00 and a 1 year high of $298.87. The company has a market capitalization of $4.41 billion, a price-to-earnings ratio of 57.88 and a beta of 1.03.

Materion (NYSE:MTRN) last posted its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.03. Materion had a net margin of 3.99% and a return on equity of 12.45%. The firm had revenue of $261.79 million during the quarter, compared to analysts’ expectations of $479.03 million. During the same quarter last year, the company posted $1.13 EPS. The firm’s quarterly revenue was up 30.8% on a year-over-year basis. As a group, equities research analysts expect that Materion Corporation will post 6.45 earnings per share for the current year.

Materion Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Thursday, August 20th will be given a $0.145 dividend. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $0.58 dividend on an annualized basis and a yield of 0.3%. Materion’s payout ratio is presently 15.85%.

Materion Company Profile

Materion Corporation (NYSE: MTRN) is a global supplier of advanced materials and precision-engineered solutions. The company develops and manufactures high-performance alloys, engineered clad and composite materials, precision thin film products, and advanced optical and electronic materials. Materion’s offerings address critical performance requirements for industries where material properties such as strength, wear resistance, conductivity and optical clarity are paramount.

Materion’s core businesses include beryllium and beryllium composites for aerospace and defense platforms, nickel- and copper-based specialty alloys for industrial and medical applications, optical coatings and substrates for scientific instrumentation, and electronic materials used in semiconductor production.