Advisor Group Holdings Inc. raised its stake in Materion Co. (NYSE:MTRN) by 2.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,475 shares of the basic materials company’s stock after buying an additional 159 shares during the period. Advisor Group Holdings Inc.’s holdings in Materion were worth $564,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Investment Counselors of Maryland LLC boosted its position in shares of Materion by 74.7% during the 1st quarter. Investment Counselors of Maryland LLC now owns 551,301 shares of the basic materials company’s stock valued at $36,518,000 after purchasing an additional 235,764 shares in the last quarter. Mutual of America Capital Management LLC boosted its position in shares of Materion by 5,454.8% during the 1st quarter. Mutual of America Capital Management LLC now owns 140,980 shares of the basic materials company’s stock valued at $9,339,000 after purchasing an additional 138,442 shares in the last quarter. BlackRock Inc. boosted its position in shares of Materion by 3.6% during the 1st quarter. BlackRock Inc. now owns 3,533,741 shares of the basic materials company’s stock valued at $234,074,000 after purchasing an additional 124,434 shares in the last quarter. Millennium Management LLC boosted its position in shares of Materion by 53.8% during the 1st quarter. Millennium Management LLC now owns 247,699 shares of the basic materials company’s stock valued at $16,408,000 after purchasing an additional 86,614 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its position in shares of Materion by 72.7% during the 1st quarter. Allianz Asset Management GmbH now owns 179,635 shares of the basic materials company’s stock valued at $11,899,000 after purchasing an additional 75,604 shares in the last quarter. Hedge funds and other institutional investors own 90.73% of the company’s stock.
Several equities research analysts recently commented on MTRN shares. Zacks Investment Research lowered Materion from a “buy” rating to a “hold” rating in a research report on Friday. KeyCorp upped their price target on Materion from $82.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, June 18th.
Materion (NYSE:MTRN) last issued its quarterly earnings data on Tuesday, August 3rd. The basic materials company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.75 by $0.11. The firm had revenue of $371.00 million during the quarter, compared to the consensus estimate of $340.65 million. Materion had a return on equity of 9.26% and a net margin of 3.64%. The company’s quarterly revenue was up 36.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.45 earnings per share. As a group, research analysts anticipate that Materion Co. will post 3.38 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 3rd. Stockholders of record on Friday, August 20th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend was Thursday, August 19th. Materion’s dividend payout ratio (DPR) is presently 23.65%.
Materion Company Profile
Materion Corp. engages in the production of engineered materials used in a variety of electrical, electronic, thermal, and structural applications. The company operates through the following segments: Performance Alloys and Composites, Advanced Materials, Precision Coatings and Other. The Performance Alloys and Composites segment produces strip and bulk form alloy products, strip metal products with clad inlay and overlay metals, beryllium-based metals, beryllium, and aluminum metal matrix composites, in rod, sheet, foil, and a variety of customized forms, beryllium ceramics, and bulk metallic glass material.
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