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%.

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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.

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

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