Bank of Montreal Can Takes Position in Materion Corporation (MTRN)
Bank of Montreal Can purchased a new stake in shares of Materion Corporation (NYSE:MTRN) during the second quarter, Holdings Channel reports. The institutional investor purchased 51,971 shares of the basic materials company’s stock, valued at approximately $1,944,000.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in Materion Corporation during the fourth quarter valued at about $16,167,000. Louisiana State Employees Retirement System increased its stake 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 worth $272,000 after buying an additional 100 shares in the last quarter. Nationwide Fund Advisors increased its stake in Materion Corporation by 5.0% in the first quarter. Nationwide Fund Advisors now owns 19,080 shares of the basic materials company’s stock worth $640,000 after buying an additional 910 shares in the last quarter. Strs Ohio increased its stake in Materion Corporation by 12.1% in the first quarter. Strs Ohio now owns 23,200 shares of the basic materials company’s stock worth $778,000 after buying an additional 2,500 shares in the last quarter. Finally, First Midwest Bank Trust Division increased its stake 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 worth $242,000 after buying an additional 231 shares in the last quarter. 89.08% of the stock is currently owned by hedge funds and other institutional investors.
Materion Corporation (MTRN) traded down 0.13% during trading on Friday, reaching $37.70. The company had a trading volume of 70,862 shares. The company has a 50-day moving average price of $37.83 and a 200 day moving average price of $36.05. Materion Corporation has a one year low of $27.20 and a one year high of $41.23. The company has a market capitalization of $755.43 million, a price-to-earnings ratio of 30.43 and a beta of 1.16.
Materion Corporation (NYSE:MTRN) last posted its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.02. The firm had revenue of $295.80 million during 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 company’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same quarter last year, the business posted $0.31 EPS. Analysts expect that Materion Corporation will post $1.52 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Friday, August 18th will be paid a $0.10 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $0.40 annualized dividend and a yield of 1.06%. Materion Corporation’s dividend payout ratio (DPR) is 32.26%.
COPYRIGHT VIOLATION NOTICE: This article was originally published by Daily Political and is the sole property of of Daily Political. If you are viewing this article on another domain, it was stolen and reposted in violation of international copyright and trademark laws. The original version of this article can be accessed at https://www.dailypolitical.com/2017/08/13/bank-of-montreal-can-takes-position-in-materion-corporation-mtrn.html.
A number of analysts recently issued reports on MTRN shares. Zacks Investment Research raised Materion Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, April 26th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $34.00 target price on shares of Materion Corporation in a research report on Friday, July 7th. Finally, BidaskClub raised Materion Corporation from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 2nd. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $36.67.
In other news, insider Richard J. Hipple sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $34.11, for a total transaction of $85,275.00. Following the completion of the sale, the insider now owns 104,591 shares in the company, valued at approximately $3,567,599.01. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Richard J. Hipple sold 5,000 shares of the firm’s stock in a transaction that occurred 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 owns 122,091 shares of the company’s stock, valued at approximately $4,208,476.77. The disclosure for this sale can be found here. In the last quarter, insiders sold 75,500 shares of company stock valued at $2,694,520. Company 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.
Want to see what other hedge funds are holding MTRN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Materion Corporation (NYSE:MTRN).
Receive News & Ratings for Materion Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Materion Corporation and related companies with MarketBeat.com's FREE daily email newsletter.