Prudential Financial Inc. increased its position in Materion Corporation (NYSE:MTRN) by 0.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,431 shares of the basic materials company’s stock after buying an additional 200 shares during the period. Prudential Financial Inc.’s holdings in Materion Corporation were worth $1,155,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of MTRN. First Midwest Bank Trust Division increased its position in shares of Materion Corporation by 3.3% in the first quarter. First Midwest Bank Trust Division now owns 7,222 shares of the basic materials company’s stock worth $242,000 after buying an additional 231 shares during the last quarter. Comerica Bank increased its position in shares of Materion Corporation by 5.7% in the fourth quarter. Comerica Bank now owns 21,281 shares of the basic materials company’s stock worth $842,000 after buying an additional 1,151 shares during the last quarter. Two Sigma Investments LP bought a new position in shares of Materion Corporation during the fourth quarter worth approximately $401,000. Karp Capital Management Corp bought a new position in shares of Materion Corporation during the first quarter worth approximately $474,000. Finally, GSA Capital Partners LLP bought a new position in shares of Materion Corporation during the fourth quarter worth approximately $321,000. Hedge funds and other institutional investors own 89.61% of the company’s stock.

Materion Corporation (NYSE MTRN) opened at 37.70 on Thursday. Materion Corporation has a 12 month low of $24.75 and a 12 month high of $41.22. The firm has a market cap of $753.47 million, a price-to-earnings ratio of 32.81 and a beta of 1.15. The firm’s 50-day moving average price is $36.74 and its 200-day moving average price is $36.14.

Materion Corporation (NYSE:MTRN) last released its quarterly earnings results on Friday, April 28th. The basic materials company reported $0.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.01. Materion Corporation had a return on equity of 5.50% and a net margin of 2.40%. The firm had revenue of $240.67 million during the quarter, compared to analysts’ expectations of $231.58 million. During the same period last year, the firm posted $0.27 EPS. The business’s revenue was up 2.2% on a year-over-year basis. Equities research analysts predict that Materion Corporation will post $1.50 earnings per share for the current year.

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MTRN has been the subject of a number of recent research reports. Zacks Investment Research upgraded Materion Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, April 26th. Jefferies Group LLC restated a “hold” rating and set a $34.00 price objective on shares of Materion Corporation in a research note on Friday, July 7th.

In related news, insider Richard J. Hipple sold 2,500 shares of the firm’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $34.53, for a total transaction of $86,325.00. Following the completion of the sale, the insider now directly owns 117,091 shares of the company’s stock, valued at approximately $4,043,152.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Richard J. Hipple sold 5,000 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $34.47, for a total value of $172,350.00. Following the sale, the insider now directly owns 122,091 shares of the company’s stock, valued at $4,208,476.77. The disclosure for this sale can be found here. Insiders have sold a total of 72,500 shares of company stock valued at $2,579,650 over the last ninety days. Insiders own 2.90% of the company’s stock.

Materion Corporation 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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Institutional Ownership by Quarter for Materion Corporation (NYSE:MTRN)

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