BNP Paribas Arbitrage SA decreased its position in Materion Corporation (NYSE:MTRN) by 20.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,562 shares of the basic materials company’s stock after selling 1,412 shares during the period. BNP Paribas Arbitrage SA’s holdings in Materion Corporation were worth $187,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of MTRN. Bank of New York Mellon Corp raised its position in Materion Corporation by 7.9% in the first quarter. Bank of New York Mellon Corp now owns 357,546 shares of the basic materials company’s stock worth $11,994,000 after buying an additional 26,262 shares during the period. Algert Global LLC raised its position in Materion Corporation by 29.9% in the first quarter. Algert Global LLC now owns 31,607 shares of the basic materials company’s stock worth $1,060,000 after buying an additional 7,280 shares during the period. Eqis Capital Management Inc. raised its position in Materion Corporation by 9.4% in the first quarter. Eqis Capital Management Inc. now owns 12,296 shares of the basic materials company’s stock worth $413,000 after buying an additional 1,059 shares during the period. Great West Life Assurance Co. Can raised its position in Materion Corporation by 4.1% in the first quarter. Great West Life Assurance Co. Can now owns 26,345 shares of the basic materials company’s stock worth $880,000 after buying an additional 1,035 shares during the period. Finally, First Midwest Bank Trust Division raised its position in Materion Corporation by 3.3% in the first quarter. First Midwest Bank Trust Division now owns 7,222 shares of the basic materials company’s stock worth $242,000 after buying an additional 231 shares during the period. Hedge funds and other institutional investors own 89.98% of the company’s stock.
Materion Corporation (NYSE MTRN) opened at 36.95 on Tuesday. The company has a market cap of $738.48 million, a price-to-earnings ratio of 32.16 and a beta of 1.16. Materion Corporation has a 52 week low of $23.06 and a 52 week high of $41.22. The stock has a 50 day moving average price of $35.23 and a 200 day moving average price of $36.52.
Materion Corporation (NYSE:MTRN) last issued its quarterly earnings data on Friday, April 28th. The basic materials company reported $0.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.01. Materion Corporation had a return on equity of 5.50% and a net margin of 2.40%. The company had revenue of $240.67 million for the quarter, compared to the consensus estimate of $231.58 million. During the same quarter last year, the business posted $0.27 earnings per share. The firm’s revenue was up 2.2% compared to the same quarter last year. On average, equities analysts forecast that Materion Corporation will post $1.50 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 2nd. Investors of record on Wednesday, May 17th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date was Monday, May 15th. This is an increase from Materion Corporation’s previous quarterly dividend of $0.10. Materion Corporation’s dividend payout ratio (DPR) is 34.78%.
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Several equities analysts have recently issued reports on MTRN shares. Zacks Investment Research lowered Materion Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, February 23rd. Jefferies Group LLC lifted their price target on Materion Corporation from $30.00 to $34.00 and gave the company a “hold” rating in a research note on Tuesday, February 21st.
In related news, insider Richard J. Hipple sold 2,500 shares of the stock in a transaction on Friday, May 19th. The stock was sold at an average price of $34.17, for a total value of $85,425.00. Following the transaction, the insider now owns 124,591 shares of the company’s stock, valued at $4,257,274.47. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Richard J. Hipple sold 3,000 shares of the stock in a transaction on Friday, March 24th. The shares were sold at an average price of $32.37, for a total value of $97,110.00. Following the completion of the transaction, the insider now directly owns 130,602 shares in the company, valued at approximately $4,227,586.74. The disclosure for this sale can be found here. Insiders sold 73,730 shares of company stock worth $2,523,413 in the last quarter. 2.90% of the stock is currently owned by company insiders.
About Materion Corporation
Materion Corporation, through its subsidiaries, is an integrated producer of engineered materials used in a range of electrical, electronic, thermal, and structural applications. The Company operates in four segments: Performance Alloys and Composites, Advanced Materials, Precision Coatings, and Other.
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