Uniplan Investment Counsel Inc. cut its holdings in Materion Corp (NYSE:MTRN) by 11.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 158,791 shares of the basic materials company’s stock after selling 20,315 shares during the quarter. Uniplan Investment Counsel Inc. owned approximately 0.79% of Materion worth $6,851,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in MTRN. SG Americas Securities LLC acquired a new stake in shares of Materion in the third quarter valued at $128,000. State of Alaska Department of Revenue increased its stake in shares of Materion by 79.5% in 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 buying an additional 1,749 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Materion by 17.7% in the second quarter. Victory Capital Management Inc. now owns 4,458 shares of the basic materials company’s stock valued at $167,000 after buying an additional 669 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Materion by 0.7% in the second quarter. PNC Financial Services Group Inc. now owns 5,130 shares of the basic materials company’s stock valued at $193,000 after buying an additional 34 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Materion in the third quarter valued at $205,000. Institutional investors own 90.02% of the company’s stock.
Materion Corp (NYSE:MTRN) traded down $0.80 during trading on Thursday, reaching $47.80. The company had a trading volume of 59,900 shares, compared to its average volume of 91,540. The company has a market capitalization of $974.11, a PE ratio of 32.62 and a beta of 1.07. Materion Corp has a fifty-two week low of $31.05 and a fifty-two week high of $52.10. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.48 and a current ratio of 3.42.
Materion (NYSE:MTRN) last posted its quarterly earnings results on Thursday, October 26th. The basic materials company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.10. The business had revenue of $294.27 million for the quarter, compared to analysts’ expectations of $290.96 million. Materion had a return on equity of 6.08% and a net margin of 2.48%. The firm’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.46 earnings per share. research analysts predict that Materion Corp will post 1.6 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Wednesday, November 8th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend was Tuesday, November 7th. Materion’s dividend payout ratio is 30.77%.
In other Materion news, Director Richard J. Hipple sold 4,364 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $49.64, for a total transaction of $216,628.96. Following the transaction, the director now owns 37,760 shares in the company, valued at $1,874,406.40. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Gregory R. Chemnitz sold 3,000 shares of the firm’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $49.60, for a total value of $148,800.00. Following the transaction, the vice president now owns 13,061 shares in the company, valued at approximately $647,825.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,470 shares of company stock worth $2,420,896. 2.90% of the stock is owned by company insiders.
A number of analysts have recently weighed in on MTRN shares. Zacks Investment Research lowered Materion from a “buy” rating to a “hold” rating in a research note on Wednesday, October 11th. KeyCorp restated a “hold” rating on shares of Materion in a research note on Monday, November 13th. Jefferies Group restated a “hold” rating and issued a $36.00 target price on shares of Materion in a research note on Thursday, October 12th. BidaskClub lowered Materion from a “buy” rating to a “hold” rating in a research note on Friday, October 20th. Finally, ValuEngine lowered Materion from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Materion has an average rating of “Hold” and a consensus target price of $39.50.
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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.
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