WealthTrust Axiom LLC purchased a new stake in shares of Materion Corp (NYSE:MTRN) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 5,300 shares of the basic materials company’s stock, valued at approximately $325,000.
Several other hedge funds have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Materion by 65.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,525 shares of the basic materials company’s stock worth $103,000 after acquiring an additional 604 shares in the last quarter. Point72 Hong Kong Ltd boosted its stake in shares of Materion by 55.9% during the 2nd quarter. Point72 Hong Kong Ltd now owns 1,651 shares of the basic materials company’s stock worth $112,000 after acquiring an additional 592 shares in the last quarter. Quantamental Technologies LLC boosted its stake in shares of Materion by 33.1% during the 2nd quarter. Quantamental Technologies LLC now owns 1,741 shares of the basic materials company’s stock worth $118,000 after acquiring an additional 433 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Materion during the 3rd quarter worth $139,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Materion in the third quarter worth $164,000. Institutional investors own 87.58% of the company’s stock.
Several analysts have recently commented on the company. ValuEngine raised Materion from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. Zacks Investment Research cut Materion from a “hold” rating to a “sell” rating in a research report on Wednesday, October 30th.
Shares of Materion stock traded down $0.09 during midday trading on Friday, hitting $59.07. The company’s stock had a trading volume of 51,885 shares, compared to its average volume of 122,692. The firm has a market capitalization of $1.21 billion, a P/E ratio of 24.82 and a beta of 0.83. The stock has a 50-day simple moving average of $60.03 and a 200-day simple moving average of $62.31. The company has a quick ratio of 2.23, a current ratio of 3.75 and a debt-to-equity ratio of 0.06. Materion Corp has a 1-year low of $42.50 and a 1-year high of $71.97.
Materion (NYSE:MTRN) last issued its earnings results on Thursday, October 24th. The basic materials company reported $0.81 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.81. The business had revenue of $305.98 million during the quarter, compared to analysts’ expectations of $295.45 million. Materion had a return on equity of 11.28% and a net margin of 1.25%. Materion’s revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.68 earnings per share. As a group, sell-side analysts predict that Materion Corp will post 3.18 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Friday, November 8th will be given a $0.11 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $0.44 annualized dividend and a dividend yield of 0.74%. Materion’s dividend payout ratio (DPR) is presently 18.49%.
Materion Company Profile
Materion Corporation manufactures and sells advanced engineered materials used in consumer electronics, industrial components, defense, medical, automotive electronics, telecommunications infrastructure, energy, commercial aerospace, science, services, and appliance markets worldwide. The company operates in four segments: Performance Alloys and Composites, Advanced Materials, Precision Coatings, and Other.
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