Pillar Pacific Capital Management LLC cut its position in Materion Corporation (NYSE:MTRN) by 6.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,480 shares of the basic materials company’s stock after selling 420 shares during the period. Pillar Pacific Capital Management LLC’s holdings in Materion Corporation were worth $242,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. increased its position in shares of Materion Corporation by 12,689.6% in the first quarter. BlackRock Inc. now owns 2,645,014 shares of the basic materials company’s stock worth $88,740,000 after buying an additional 2,624,333 shares during the period. Vanguard Group Inc. increased its position in shares of Materion Corporation by 6.1% in the first quarter. Vanguard Group Inc. now owns 1,879,751 shares of the basic materials company’s stock worth $63,066,000 after buying an additional 108,041 shares during the period. Ameriprise Financial Inc. increased its position in shares of Materion Corporation by 12.4% in the first quarter. Ameriprise Financial Inc. now owns 649,987 shares of the basic materials company’s stock worth $21,808,000 after buying an additional 71,786 shares during the period. State Street Corp increased its position in shares of Materion Corporation by 1.6% in the first quarter. State Street Corp now owns 645,983 shares of the basic materials company’s stock worth $21,668,000 after buying an additional 10,359 shares during the period. Finally, Norges Bank acquired a new position in shares of Materion Corporation during the fourth quarter worth approximately $16,167,000. 89.40% of the stock is owned by institutional investors.

Materion Corporation (MTRN) opened at 39.00 on Friday. Materion Corporation has a 12 month low of $25.82 and a 12 month high of $41.22. The firm has a market capitalization of $781.48 million, a P/E ratio of 31.48 and a beta of 1.16. The stock’s 50 day moving average price is $37.49 and its 200-day moving average price is $36.03.

Materion Corporation (NYSE:MTRN) last released its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.02. The business had revenue of $295.80 million during the quarter, compared to analysts’ expectations of $254.28 million. Materion Corporation had a net margin of 2.47% and a return on equity of 5.96%. The company’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.31 EPS. Equities analysts forecast that Materion Corporation will post $1.51 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Friday, August 18th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $0.40 annualized dividend and a dividend yield of 1.03%. Materion Corporation’s dividend payout ratio (DPR) is currently 32.26%.

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MTRN has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of Materion Corporation from a “buy” rating to a “hold” rating in a research note on Friday, May 26th. BidaskClub raised Materion Corporation from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $34.00 price target on shares of Materion Corporation in a research report on Friday, July 7th. Two analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $36.67.

In other news, VP Gregory R. Chemnitz sold 3,000 shares of Materion Corporation stock in a transaction on Monday, July 31st. The shares were sold at an average price of $38.29, for a total transaction of $114,870.00. Following the completion of the sale, the vice president now directly owns 18,052 shares of the company’s stock, valued at approximately $691,211.08. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Richard J. Hipple sold 5,000 shares of Materion Corporation stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $34.47, for a total transaction 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. Over the last ninety days, insiders have sold 75,500 shares of company stock valued at $2,694,520. Corporate 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.

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

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