Uniplan Investment Counsel Inc. cut its holdings in shares of Materion Corp (NYSE:MTRN) by 11.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 158,791 shares of the basic materials company’s stock after selling 20,315 shares during the period. Uniplan Investment Counsel Inc. owned about 0.79% of Materion worth $6,851,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP grew its stake in Materion by 0.5% in the third quarter. Dimensional Fund Advisors LP now owns 1,684,188 shares of the basic materials company’s stock worth $72,672,000 after purchasing an additional 8,344 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in Materion by 3.4% in the third quarter. Schwab Charles Investment Management Inc. now owns 190,108 shares of the basic materials company’s stock worth $8,204,000 after acquiring an additional 6,206 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new position in Materion in the third quarter worth about $397,000. Wells Fargo & Company MN lifted its holdings in Materion by 6.9% in the third quarter. Wells Fargo & Company MN now owns 92,855 shares of the basic materials company’s stock worth $4,007,000 after acquiring an additional 5,996 shares during the last quarter. Finally, Macquarie Group Ltd. bought a new position in Materion in the third quarter worth about $441,000. Institutional investors own 90.02% of the company’s stock.
A number of equities analysts have issued reports on the stock. ValuEngine cut shares of Materion from a “buy” rating to a “hold” rating in a report on Friday, December 1st. KeyCorp reaffirmed a “hold” rating on shares of Materion in a report on Monday, November 13th. BidaskClub raised Materion from a “hold” rating to a “buy” rating in a report on Tuesday, October 31st. Jefferies Group reaffirmed a “hold” rating and set a $36.00 price target on shares of Materion in a report on Thursday, October 12th. Finally, Zacks Investment Research cut Materion from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $39.50.
In other Materion news, Director Richard J. Hipple sold 4,364 shares of Materion stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $49.64, for a total transaction of $216,628.96. Following the transaction, the director now directly owns 37,760 shares in the company, valued at approximately $1,874,406.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Gregory R. Chemnitz sold 3,000 shares of Materion 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 transaction, the vice president now owns 13,061 shares in the company, valued at $647,825.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,470 shares of company stock worth $2,420,896. 2.90% of the stock is currently owned by company insiders.
Shares of Materion Corp (MTRN) traded up $0.15 during trading hours on Friday, reaching $48.40. The company had a trading volume of 308,435 shares, compared to its average volume of 94,701. Materion Corp has a 1 year low of $31.05 and a 1 year high of $52.10. The company has a market capitalization of $973.12, a PE ratio of 32.38 and a beta of 1.07. 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, 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 analyst estimates of $290.96 million. Materion had a net margin of 2.48% and a return on equity of 6.08%. The firm’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.46 earnings per share. equities analysts predict that Materion Corp will post 1.6 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Wednesday, November 8th were given a $0.10 dividend. The ex-dividend date was Tuesday, November 7th. This represents a $0.40 annualized dividend and a yield of 0.83%. Materion’s dividend payout ratio (DPR) is 30.77%.
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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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