Materion Corporation $MTRN Stock Purchased by ProShare Advisors LLC

ProShare Advisors LLC raised its stake in shares of Materion Corporation (NYSE:MTRN) by 40.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,131 shares of the basic materials company’s stock after purchasing an additional 12,042 shares during the period. ProShare Advisors LLC owned 0.20% of Materion worth $11,358,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of MTRN. BlackRock Inc. acquired a new stake in shares of Materion in the second quarter worth $1,032,985,000. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Materion during the 2nd quarter worth $132,656,000. Congress Asset Management Co. acquired a new position in Materion in the 3rd quarter valued at $51,835,000. Bank of America Corp DE acquired a new position in Materion in the 2nd quarter valued at $51,481,000. Finally, Bank of New York Mellon Corp bought a new position in Materion in the 2nd quarter worth $49,060,000. Institutional investors own 93.56% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on MTRN. KeyCorp boosted their target price on shares of Materion from $237.00 to $306.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Jefferies Financial Group assumed coverage on Materion in a research report on Wednesday, September 2nd. They issued a “buy” rating and a $314.00 price target on the stock. Zacks Research lowered Materion from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Wall Street Zen upgraded Materion from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings cut Materion from a “buy (b-)” rating to a “hold (c)” rating in a research report on Thursday, October 29th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Materion currently has an average rating of “Moderate Buy” and an average price target of $310.00.

Materion Price Performance

Shares of Materion stock opened at $227.46 on Wednesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.94 and a quick ratio of 1.29. The company has a market cap of $4.74 billion, a PE ratio of 53.02 and a beta of 1.10. The firm has a fifty day moving average price of $252.78 and a two-hundred day moving average price of $212.29. Materion Corporation has a fifty-two week low of $110.69 and a fifty-two week high of $324.98.

Materion (NYSE:MTRN) last posted its quarterly earnings data on Wednesday, August 5th. The basic materials company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.38. The company had revenue of $308.19 million for the quarter, compared to the consensus estimate of $549.82 million. Materion had a net margin of 4.29% and a return on equity of 13.38%. The business’s revenue was up 42.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.37 EPS. Analysts expect that Materion Corporation will post 7.04 EPS for the current year.

Materion Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Thursday, November 19th will be paid a $0.1450 dividend. This represents a $0.58 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Thursday, November 19th. Materion’s dividend payout ratio (DPR) is presently 13.52%.

Insider Transactions at Materion

In related news, Director Emily Liggett sold 1,012 shares of Materion stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $232.42, for a total transaction of $235,209.04. Following the sale, the director directly owned 3,161 shares of the company’s stock, valued at $734,679.62. This trade represents a 24.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jugal Vijayvargiya sold 24,336 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $291.62, for a total value of $7,096,864.32. Following the transaction, the chief executive officer owned 116,699 shares in the company, valued at $34,031,762.38. This represents a 17.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 29,053 shares of company stock valued at $8,301,958 in the last ninety days. 2.80% of the stock is owned by corporate insiders.

About Materion

Materion Corporation is an advanced materials company that develops, manufactures and supplies engineered materials for demanding applications. Its product portfolio includes beryllium and beryllium-aluminum alloys, specialty metals, precious-metal and clad materials, thin-film coating materials, optical filters and other precision components.

The company’s materials and products are used in aerospace and defense, semiconductor manufacturing, communications, medical technology, energy, automotive and other industrial markets.