Thrivent Financial For Lutherans Acquires 1,340 Shares of Materion Corporation (MTRN)
Thrivent Financial For Lutherans raised its holdings in Materion Corporation (NYSE:MTRN) by 0.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 244,970 shares of the basic materials company’s stock after acquiring an additional 1,340 shares during the quarter. Thrivent Financial For Lutherans owned approximately 1.22% of Materion Corporation worth $9,162,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC acquired a new position in Materion Corporation in the 1st quarter valued at approximately $115,000. Victory Capital Management Inc. increased its position in Materion Corporation by 50.5% in the 1st quarter. Victory Capital Management Inc. now owns 3,789 shares of the basic materials company’s stock valued at $127,000 after acquiring an additional 1,271 shares during the period. State of Alaska Department of Revenue increased its position in Materion Corporation by 79.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 3,949 shares of the basic materials company’s stock valued at $147,000 after acquiring an additional 1,749 shares during the period. Mason Street Advisors LLC increased its position in Materion Corporation by 7.1% in the 1st quarter. Mason Street Advisors LLC now owns 4,665 shares of the basic materials company’s stock valued at $157,000 after acquiring an additional 308 shares during the period. Finally, O Shaughnessy Asset Management LLC acquired a new position in Materion Corporation in the 1st quarter valued at approximately $160,000. Hedge funds and other institutional investors own 90.80% of the company’s stock.
In related news, insider Richard J. Hipple sold 2,500 shares of Materion Corporation stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $37.38, for a total value of $93,450.00. Following the transaction, the insider now directly owns 57,091 shares of the company’s stock, valued at $2,134,061.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Richard J. Hipple sold 5,000 shares of Materion Corporation stock in a transaction on Tuesday, June 27th. The stock was sold at an average price of $37.05, for a total transaction of $185,250.00. Following the completion of the transaction, the insider now directly owns 62,091 shares in the company, valued at $2,300,471.55. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,500 shares of company stock worth $393,570. 2.90% of the stock is owned by insiders.
Several equities analysts have issued reports on MTRN shares. Zacks Investment Research cut shares of Materion Corporation from a “buy” rating to a “hold” rating in a research report on Friday, May 26th. Jefferies Group LLC restated a “hold” rating and issued a $34.00 price target on shares of Materion Corporation in a research report on Friday, July 7th. Finally, BidaskClub upgraded shares of Materion Corporation from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 2nd.
Shares of Materion Corporation (MTRN) opened at 38.35 on Friday. The company has a market capitalization of $768.46 million, a price-to-earnings ratio of 30.95 and a beta of 1.15. The stock has a 50 day moving average of $38.21 and a 200-day moving average of $36.08. Materion Corporation has a 1-year low of $28.50 and a 1-year high of $41.23.
Materion Corporation (NYSE:MTRN) last issued its earnings results on Thursday, July 27th. The basic materials company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.40 by $0.02. Materion Corporation had a net margin of 2.47% and a return on equity of 5.96%. The company had revenue of $295.80 million for the quarter, compared to the consensus estimate of $254.28 million. During the same period in the previous year, the firm earned $0.31 earnings per share. The firm’s revenue for the quarter was up 18.4% on a year-over-year basis. Analysts forecast that Materion Corporation will post $1.52 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Friday, August 18th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend was Wednesday, August 16th. Materion Corporation’s payout ratio is 32.26%.
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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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