Texas Permanent School Fund reduced its stake in Materion Corporation (NYSE:MTRN) by 0.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,444 shares of the basic materials company’s stock after selling 98 shares during the period. Texas Permanent School Fund’s holdings in Materion Corporation were worth $485,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. bought a new stake in Materion Corporation during the fourth quarter valued at $2,187,000. State Board of Administration of Florida Retirement System increased its stake in Materion Corporation by 15.0% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 11,630 shares of the basic materials company’s stock valued at $461,000 after buying an additional 1,520 shares during the last quarter. Comerica Bank increased its stake in Materion Corporation by 5.7% in the fourth quarter. Comerica Bank now owns 21,281 shares of the basic materials company’s stock valued at $842,000 after buying an additional 1,151 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Materion Corporation by 5.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,678,473 shares of the basic materials company’s stock valued at $66,469,000 after buying an additional 89,780 shares during the last quarter. Finally, Menta Capital LLC increased its stake in Materion Corporation by 62.5% in the fourth quarter. Menta Capital LLC now owns 51,161 shares of the basic materials company’s stock valued at $2,026,000 after buying an additional 19,686 shares during the last quarter. 89.98% of the stock is owned by institutional investors.
Shares of Materion Corporation (NYSE:MTRN) opened at 36.95 on Tuesday. Materion Corporation has a 12 month low of $23.06 and a 12 month high of $41.22. The company has a market cap of $738.48 million, a P/E ratio of 32.16 and a beta of 1.16. The company’s 50 day moving average is $35.23 and its 200-day moving average is $36.52.
Materion Corporation (NYSE:MTRN) last released its quarterly earnings data on Friday, April 28th. The basic materials company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. The company had revenue of $240.67 million during the quarter, compared to the consensus estimate of $231.58 million. Materion Corporation had a net margin of 2.40% and a return on equity of 5.50%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the firm earned $0.27 EPS. Analysts expect that Materion Corporation will post $1.50 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 2nd. Stockholders of record on Wednesday, May 17th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.08%. This is an increase from Materion Corporation’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Monday, May 15th. Materion Corporation’s dividend payout ratio (DPR) is presently 34.78%.
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A number of brokerages recently weighed in on MTRN. Zacks Investment Research raised shares of Materion Corporation from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research report on Friday. Jefferies Group LLC boosted their price objective on shares of Materion Corporation from $30.00 to $34.00 and gave the company a “hold” rating in a research report on Tuesday, February 21st.
In other news, insider Richard J. Hipple sold 2,500 shares of the firm’s stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $36.17, for a total transaction of $90,425.00. Following the completion of the transaction, the insider now directly owns 77,091 shares of the company’s stock, valued at approximately $2,788,381.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Richard J. Hipple sold 3,000 shares of the firm’s stock in a transaction dated Friday, March 24th. The stock was sold at an average price of $32.37, for a total transaction of $97,110.00. Following the transaction, the insider now directly owns 130,602 shares of the company’s stock, valued at $4,227,586.74. The disclosure for this sale can be found here. Insiders have sold a total of 73,730 shares of company stock valued at $2,523,413 over the last ninety days. 2.90% of the stock is owned by insiders.
Materion Corporation Company Profile
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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