Materion Co. (NYSE:MTRN) Short Interest Down 21.4% in March


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Materion Co. (NYSE:MTRN) was the target of a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 262,100 shares, a drop of 21.4% from the March 15th total of 333,500 shares. Currently, 1.3% of the company’s stock are sold short. Based on an average trading volume of 131,600 shares, the days-to-cover ratio is presently 2.0 days.

MTRN traded down $1.72 on Tuesday, reaching $65.31. 988 shares of the stock were exchanged, compared to its average volume of 126,607. The company’s 50-day moving average price is $69.69 and its 200 day moving average price is $63.71. Materion has a fifty-two week low of $40.67 and a fifty-two week high of $80.70. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.00 and a quick ratio of 1.16. The firm has a market capitalization of $1.33 billion, a PE ratio of 55.86 and a beta of 1.47.

Materion (NYSE:MTRN) last issued its quarterly earnings results on Wednesday, February 17th. The basic materials company reported $0.70 EPS for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.12. The company had revenue of $339.69 million during the quarter, compared to analysts’ expectations of $292.15 million. Materion had a return on equity of 7.29% and a net margin of 2.22%. As a group, equities analysts forecast that Materion will post 2.05 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 5th. Stockholders of record on Wednesday, February 17th were issued a $0.115 dividend. The ex-dividend date was Tuesday, February 16th. This represents a $0.46 annualized dividend and a dividend yield of 0.70%. Materion’s dividend payout ratio (DPR) is presently 14.42%.

MTRN has been the subject of a number of recent analyst reports. Zacks Investment Research cut Materion from a “buy” rating to a “hold” rating in a research report on Tuesday, February 23rd. KeyCorp raised their price objective on Materion from $68.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 26th. Finally, TheStreet cut Materion from a “b” rating to a “c+” rating in a research report on Thursday, April 1st.

Several hedge funds have recently modified their holdings of MTRN. Norges Bank acquired a new position in shares of Materion in the 4th quarter valued at about $26,517,000. Copeland Capital Management LLC increased its stake in shares of Materion by 500.8% in the 4th quarter. Copeland Capital Management LLC now owns 299,578 shares of the basic materials company’s stock valued at $19,089,000 after purchasing an additional 249,718 shares in the last quarter. BlackRock Inc. increased its stake in shares of Materion by 3.3% in the 4th quarter. BlackRock Inc. now owns 3,409,307 shares of the basic materials company’s stock valued at $217,239,000 after purchasing an additional 109,333 shares in the last quarter. Nuveen Asset Management LLC increased its stake in shares of Materion by 29.3% in the 4th quarter. Nuveen Asset Management LLC now owns 473,437 shares of the basic materials company’s stock valued at $30,168,000 after purchasing an additional 107,275 shares in the last quarter. Finally, Morgan Stanley increased its stake in shares of Materion by 84.4% in the 4th quarter. Morgan Stanley now owns 108,016 shares of the basic materials company’s stock valued at $6,883,000 after purchasing an additional 49,434 shares in the last quarter. 86.04% of the stock is owned by institutional investors and hedge funds.

Materion Company Profile

Materion Corporation manufactures and sells advanced engineered materials used in semiconductor, industrial, aerospace and defense, automotive, energy, consumer electronics, and telecom and data center markets in the United States, Asia, Europe, and internationally. It operates through Performance Alloys and Composites, Advanced Materials, and Precision Optics segments.

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