NWQ Investment Management Company LLC decreased its position in shares of Materion Corp (NYSE:MTRN) by 43.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 663,283 shares of the basic materials company’s stock after selling 512,549 shares during the period. NWQ Investment Management Company LLC’s holdings in Materion were worth $32,236,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company raised its position in Materion by 0.4% during the second quarter. The Manufacturers Life Insurance Company now owns 15,496 shares of the basic materials company’s stock valued at $580,000 after purchasing an additional 58 shares in the last quarter. Rhumbline Advisers raised its position in Materion by 2.4% during the third quarter. Rhumbline Advisers now owns 48,796 shares of the basic materials company’s stock valued at $2,106,000 after purchasing an additional 1,142 shares in the last quarter. Systematic Financial Management LP raised its position in Materion by 3.9% during the fourth quarter. Systematic Financial Management LP now owns 30,800 shares of the basic materials company’s stock valued at $1,497,000 after purchasing an additional 1,165 shares in the last quarter. Municipal Employees Retirement System of Michigan grew its stake in shares of Materion by 39.3% during the third quarter. Municipal Employees Retirement System of Michigan now owns 9,920 shares of the basic materials company’s stock valued at $428,000 after buying an additional 2,800 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Materion during the third quarter valued at about $128,000. Institutional investors and hedge funds own 91.96% of the company’s stock.
Shares of Materion Corp (NYSE MTRN) opened at $53.25 on Tuesday. The company has a quick ratio of 1.50, a current ratio of 3.23 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $1,080.23, a PE ratio of 95.09 and a beta of 1.01. Materion Corp has a 12 month low of $31.05 and a 12 month high of $54.30.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 7th. Investors of record on Wednesday, February 21st were paid a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, February 20th. This represents a $0.40 annualized dividend and a dividend yield of 0.75%. Materion’s payout ratio is presently 71.43%.
A number of research analysts have recently issued reports on the company. TheStreet cut Materion from a “b” rating to a “c+” rating in a research note on Friday, February 16th. Jefferies Group set a $48.00 price objective on Materion and gave the company a “hold” rating in a research note on Thursday, February 15th. ValuEngine cut Materion from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. KeyCorp reaffirmed a “hold” rating on shares of Materion in a research note on Monday, November 13th. Finally, Zacks Investment Research raised Materion from a “sell” rating to a “hold” rating in a research note on Tuesday, February 27th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $52.00.
In related news, Director Craig S. Shular sold 5,267 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $52.73, for a total value of $277,728.91. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Joseph P. Kelley sold 2,419 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $51.43, for a total value of $124,409.17. The disclosure for this sale can be found here. Insiders sold 15,686 shares of company stock worth $806,938 over the last three months. 2.90% of the stock is owned by insiders.
COPYRIGHT VIOLATION WARNING: This report was first reported by Ticker Report and is the sole property of of Ticker Report. If you are reading this report on another publication, it was illegally copied and reposted in violation of United States and international copyright laws. The original version of this report can be viewed at https://www.tickerreport.com/banking-finance/3259810/nwq-investment-management-company-llc-lowers-holdings-in-materion-corp-mtrn.html.
Materion 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.
Want to see what other hedge funds are holding MTRN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Materion Corp (NYSE:MTRN).
Receive News & Ratings for Materion Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Materion and related companies with MarketBeat.com's FREE daily email newsletter.