Royal Bank of Canada Sells 9,278 Shares of Materion Co. (NYSE:MTRN)

Royal Bank of Canada cut its position in Materion Co. (NYSE:MTRN) by 2.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 312,363 shares of the basic materials company’s stock after selling 9,278 shares during the quarter. Royal Bank of Canada’s holdings in Materion were worth $30,886,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in MTRN. Barclays PLC raised its stake in shares of Materion by 356.9% in the third quarter. Barclays PLC now owns 34,877 shares of the basic materials company’s stock valued at $3,902,000 after buying an additional 27,244 shares during the period. Dakota Wealth Management raised its stake in shares of Materion by 1.5% in the fourth quarter. Dakota Wealth Management now owns 10,910 shares of the basic materials company’s stock valued at $1,079,000 after buying an additional 165 shares during the period. Janney Montgomery Scott LLC raised its stake in shares of Materion by 10.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 8,878 shares of the basic materials company’s stock valued at $878,000 after buying an additional 828 shares during the period. Wesbanco Bank Inc. bought a new stake in shares of Materion in the fourth quarter valued at $396,000. Finally, Inspire Investing LLC raised its stake in shares of Materion by 9.3% in the fourth quarter. Inspire Investing LLC now owns 4,049 shares of the basic materials company’s stock valued at $400,000 after buying an additional 346 shares during the period. 93.56% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, KeyCorp restated a “sector weight” rating on shares of Materion in a research note on Wednesday, May 7th.

Materion Stock Performance

NYSE:MTRN opened at $76.72 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.26 and a current ratio of 3.19. Materion Co. has a 52-week low of $69.10 and a 52-week high of $123.21. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of 264.55 and a beta of 0.85. The business’s fifty day moving average is $79.82 and its 200 day moving average is $94.58.

Materion (NYSE:MTRN) last released its quarterly earnings data on Thursday, May 1st. The basic materials company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.01. Materion had a return on equity of 12.42% and a net margin of 0.35%. The company had revenue of $420.33 million for the quarter, compared to analyst estimates of $396.83 million. During the same period in the previous year, the company posted $0.96 EPS. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. Research analysts predict that Materion Co. will post 5.5 EPS for the current year.

Materion Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 29th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.73%. This is a positive change from Materion’s previous quarterly dividend of $0.14. The ex-dividend date is Thursday, May 29th. Materion’s payout ratio is presently 112.00%.

Insider Activity at Materion

In other Materion news, VP Gregory R. Chemnitz sold 2,000 shares of the company’s stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $80.45, for a total value of $160,900.00. Following the transaction, the vice president now directly owns 13,376 shares in the company, valued at $1,076,099.20. This represents a 13.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

Materion Profile

Materion Corporation, together with its subsidiaries, produces advanced engineered materials used in semiconductor, industrial, aerospace and defense, automotive, energy, consumer electronics, and telecom and data center in the United States, Asia, Europe, and internationally. The company operates in four segments: Performance Materials, Electronic Materials, Precision Optics, and Other.