Materion Corporation (MTRN) Position Raised by Geode Capital Management LLC
Geode Capital Management LLC increased its stake in shares of Materion Corporation (NYSE:MTRN) by 6.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 160,658 shares of the basic materials company’s stock after buying an additional 9,081 shares during the period. Geode Capital Management LLC’s holdings in Materion Corporation were worth $5,390,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the stock. PNC Financial Services Group Inc. increased its position in Materion Corporation by 1.9% in the first quarter. PNC Financial Services Group Inc. now owns 5,096 shares of the basic materials company’s stock valued at $171,000 after buying an additional 96 shares during the last quarter. Louisiana State Employees Retirement System increased its position in Materion Corporation by 1.3% in the first quarter. Louisiana State Employees Retirement System now owns 8,100 shares of the basic materials company’s stock valued at $272,000 after buying an additional 100 shares in the last quarter. Arizona State Retirement System increased its position in Materion Corporation by 1.0% in the first quarter. Arizona State Retirement System now owns 10,412 shares of the basic materials company’s stock valued at $349,000 after buying an additional 100 shares in the last quarter. Prudential Financial Inc. increased its position in Materion Corporation by 0.6% in the first quarter. Prudential Financial Inc. now owns 34,431 shares of the basic materials company’s stock valued at $1,155,000 after buying an additional 200 shares in the last quarter. Finally, First Midwest Bank Trust Division increased its position in 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 valued at $242,000 after buying an additional 231 shares in the last quarter. 89.08% of the stock is currently owned by institutional investors and hedge funds.
Materion Corporation (MTRN) traded down 0.13% during trading on Friday, hitting $37.70. 70,862 shares of the stock traded hands. The company’s 50 day moving average price is $37.83 and its 200-day moving average price is $36.05. Materion Corporation has a 52-week low of $27.20 and a 52-week high of $41.23. The stock has a market cap of $755.43 million, a P/E ratio of 30.43 and a beta of 1.16.
Materion Corporation (NYSE:MTRN) last released its earnings results on Thursday, July 27th. The basic materials company reported $0.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.02. The company had revenue of $295.80 million for the quarter, compared to analyst estimates of $254.28 million. Materion Corporation had a net margin of 2.47% and a return on equity of 5.96%. The firm’s quarterly revenue was up 18.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.31 EPS. Equities research analysts forecast that Materion Corporation will post $1.52 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Friday, August 18th will be issued 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 1.06%. Materion Corporation’s payout ratio is currently 32.26%.
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MTRN has been the topic of several research reports. BidaskClub downgraded shares of Materion Corporation from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Zacks Investment Research raised shares of Materion Corporation from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research note on Wednesday, May 3rd. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $34.00 price target on shares of Materion Corporation in a research note on Friday, July 7th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $36.67.
In other news, VP Gregory R. Chemnitz sold 3,000 shares of the stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $38.29, for a total transaction of $114,870.00. Following the transaction, the vice president now directly owns 18,052 shares in the company, valued at approximately $691,211.08. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Richard J. Hipple sold 2,500 shares of the stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $34.33, for a total transaction of $85,825.00. Following the transaction, the chairman now owns 109,591 shares in the company, valued at $3,762,259.03. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 75,500 shares of company stock worth $2,694,520. 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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