Goldman Sachs Group Inc. reduced its position in shares of Materion Corporation (NYSE:MTRN) by 12.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 96,282 shares of the basic materials company’s stock after selling 13,458 shares during the period. Goldman Sachs Group Inc. owned 0.48% of Materion Corporation worth $3,600,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new stake in shares of Materion Corporation during the first quarter valued at approximately $115,000. Victory Capital Management Inc. boosted its holdings in shares of Materion Corporation by 50.5% during the first quarter. Victory Capital Management Inc. now owns 3,789 shares of the basic materials company’s stock valued at $127,000 after acquiring an additional 1,271 shares during the period. State of Alaska Department of Revenue boosted its holdings in shares of Materion Corporation by 79.5% during the second quarter. State of Alaska Department of Revenue now owns 3,949 shares of the basic materials company’s stock valued at $147,000 after acquiring an additional 1,749 shares during the period. Mason Street Advisors LLC boosted its holdings in shares of Materion Corporation by 7.1% during the first quarter. Mason Street Advisors LLC now owns 4,665 shares of the basic materials company’s stock valued at $157,000 after acquiring an additional 308 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Materion Corporation by 1.9% during the first quarter. PNC Financial Services Group Inc. now owns 5,096 shares of the basic materials company’s stock valued at $171,000 after acquiring an additional 96 shares during the period. 90.77% of the stock is currently owned by institutional investors.
Shares of Materion Corporation (NYSE:MTRN) traded up $0.90 during trading on Friday, reaching $51.55. 101,600 shares of the company’s stock traded hands, compared to its average volume of 91,414. The company has a current ratio of 3.42, a quick ratio of 1.48 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $1,050.00, a PE ratio of 33.99 and a beta of 1.11. Materion Corporation has a 12-month low of $31.05 and a 12-month high of $52.10.
Materion Corporation (NYSE:MTRN) last posted its quarterly earnings data on Thursday, October 26th. The basic materials company reported $0.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.10. The firm had revenue of $294.27 million for the quarter, compared to the consensus estimate of $290.96 million. Materion Corporation had a return on equity of 6.08% and a net margin of 2.48%. The business’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.46 EPS. equities research analysts anticipate that Materion Corporation will post 1.6 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 8th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, November 7th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.78%. Materion Corporation’s dividend payout ratio is 30.77%.
In other Materion Corporation news, VP Gregory R. Chemnitz sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $49.60, for a total transaction of $148,800.00. Following the completion of the sale, the vice president now owns 13,061 shares of the company’s stock, valued at $647,825.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director N Mohan Reddy sold 11,393 shares of the stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $50.11, for a total value of $570,903.23. The disclosure for this sale can be found here. Insiders sold a total of 26,393 shares of company stock worth $1,320,343 in the last quarter. 2.90% of the stock is owned by corporate insiders.
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MTRN has been the subject of several analyst reports. BidaskClub downgraded shares of Materion Corporation from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 10th. Zacks Investment Research raised shares of Materion Corporation from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a report on Wednesday, September 27th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $36.00 price objective on shares of Materion Corporation in a report on Thursday, October 12th.
About Materion Corporation
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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