Materion Corp. (MTRN) Shares Sold by BNP Paribas Arbitrage SA
BNP Paribas Arbitrage SA lowered its position in Materion Corp. (NYSE:MTRN) by 50.8% during the third quarter, Holdings Channel reports. The firm owned 4,293 shares of the company’s stock after selling 4,427 shares during the period. BNP Paribas Arbitrage SA’s holdings in Materion Corp. were worth $132,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Springbok Capital Management LLC raised its stake in Materion Corp. by 221.4% in the first quarter. Springbok Capital Management LLC now owns 4,500 shares of the company’s stock worth $119,000 after buying an additional 3,100 shares during the period. Legal & General Group Plc raised its stake in Materion Corp. by 16.2% in the first quarter. Legal & General Group Plc now owns 4,544 shares of the company’s stock worth $122,000 after buying an additional 632 shares during the period. Paradigm Asset Management Co. LLC raised its stake in Materion Corp. by 11.8% in the second quarter. Paradigm Asset Management Co. LLC now owns 5,700 shares of the company’s stock worth $141,000 after buying an additional 600 shares during the period. Highbridge Capital Management LLC bought a new stake in Materion Corp. during the second quarter worth approximately $210,000. Finally, Eqis Capital Management Inc. raised its stake in Materion Corp. by 3.2% in the second quarter. Eqis Capital Management Inc. now owns 8,953 shares of the company’s stock worth $222,000 after buying an additional 278 shares during the period. 90.75% of the stock is owned by institutional investors.
Shares of Materion Corp. (NYSE:MTRN) opened at 30.20 on Thursday. The company’s 50-day moving average price is $30.08 and its 200 day moving average price is $27.06. The company has a market cap of $603.00 million, a price-to-earnings ratio of 24.35 and a beta of 1.35. Materion Corp. has a 1-year low of $20.62 and a 1-year high of $35.08.
Materion Corp. (NYSE:MTRN) last announced its earnings results on Thursday, July 28th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. The business earned $249.80 million during the quarter, compared to analyst estimates of $235.29 million. Materion Corp. had a net margin of 2.60% and a return on equity of 5.55%. The company’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.43 EPS. On average, analysts predict that Materion Corp. will post $1.34 earnings per share for the current fiscal year.
Several brokerages have recently commented on MTRN. Zacks Investment Research raised Materion Corp. from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research note on Tuesday, August 2nd. TheStreet raised Materion Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, August 18th. Finally, Jefferies Group reaffirmed a “hold” rating on shares of Materion Corp. in a research report on Saturday, October 1st.
About Materion Corp.
Materion Corporation is a holding company. The Company is an integrated producer of engineered materials used in a range of electrical, electronic, thermal and structural applications. The Company’s products are sold in markets, including consumer electronics, industrial components, medical, automotive electronics, energy, telecommunications infrastructure, defense and commercial aerospace.
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