Teachers Retirement System of The State of Kentucky lessened its position in shares of Materion Corp (NYSE:MTRN) by 24.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,800 shares of the basic materials company’s stock after selling 2,200 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Materion were worth $330,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in MTRN. Two Sigma Investments LP bought a new position in shares of Materion in the 4th quarter valued at about $1,781,000. Two Sigma Advisers LP bought a new position in shares of Materion in the 4th quarter valued at about $308,000. Robecosam AG grew its holdings in shares of Materion by 8.2% in the 4th quarter. Robecosam AG now owns 159,000 shares of the basic materials company’s stock valued at $7,783,000 after acquiring an additional 12,000 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Materion by 29.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 179,033 shares of the basic materials company’s stock valued at $8,702,000 after acquiring an additional 40,841 shares in the last quarter. Finally, Stone Ridge Asset Management LLC bought a new position in shares of Materion in the 4th quarter valued at about $956,000. Hedge funds and other institutional investors own 91.96% of the company’s stock.
Shares of Materion stock opened at $51.15 on Friday. Materion Corp has a one year low of $31.05 and a one year high of $55.35. The stock has a market cap of $1,028.93, a PE ratio of 29.74 and a beta of 1.01. 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 company 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 was Tuesday, February 20th. This represents a $0.40 annualized dividend and a yield of 0.78%. Materion’s dividend payout ratio (DPR) is currently 71.43%.
Several equities analysts have recently weighed in on MTRN shares. Zacks Investment Research upgraded Materion from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a report on Wednesday, March 14th. ValuEngine upgraded Materion from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. TheStreet cut Materion from a “b” rating to a “c+” rating in a report on Friday, February 16th. Finally, Jefferies Group set a $48.00 price objective on Materion and gave the company a “hold” rating in a report on Thursday, February 15th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $54.00.
In other Materion news, Director Craig S. Shular sold 5,267 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $52.73, for a total transaction of $277,728.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph P. Keithley sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $50.60, for a total transaction of $404,800.00. Following the sale, the director now owns 11,757 shares of the company’s stock, valued at $594,904.20. The disclosure for this sale can be found here. Insiders sold a total of 15,686 shares of company stock valued at $806,938 over the last quarter. 2.90% of the stock is currently owned by company insiders.
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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