ProShare Advisors LLC Cuts Stock Holdings in Materion Corporation $MTRN

ProShare Advisors LLC trimmed its stake in Materion Corporation (NYSE:MTRN) by 25.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 59,125 shares of the basic materials company’s stock after selling 20,488 shares during the period. ProShare Advisors LLC’s holdings in Materion were worth $7,143,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp lifted its position in Materion by 28.0% during the second quarter. State Street Corp now owns 1,298,956 shares of the basic materials company’s stock valued at $103,098,000 after purchasing an additional 283,998 shares during the last quarter. American Century Companies Inc. raised its position in shares of Materion by 222.3% during the 2nd quarter. American Century Companies Inc. now owns 238,418 shares of the basic materials company’s stock valued at $18,923,000 after buying an additional 164,433 shares in the last quarter. Qube Research & Technologies Ltd raised its position in shares of Materion by 313.6% during the 2nd quarter. Qube Research & Technologies Ltd now owns 82,019 shares of the basic materials company’s stock valued at $6,510,000 after buying an additional 62,187 shares in the last quarter. Gendell Jeffrey L bought a new stake in shares of Materion during the 2nd quarter worth $4,865,000. Finally, Lumbard & Kellner LLC purchased a new position in Materion in the second quarter worth $4,150,000. 93.56% of the stock is owned by hedge funds and other institutional investors.

Materion Stock Up 4.1%

Shares of NYSE:MTRN opened at $156.78 on Thursday. The stock has a market capitalization of $3.25 billion, a P/E ratio of 165.03 and a beta of 0.87. The stock’s 50-day moving average price is $135.53 and its 200-day moving average price is $123.26. The company has a current ratio of 3.29, a quick ratio of 1.31 and a debt-to-equity ratio of 0.49. Materion Corporation has a 12-month low of $69.10 and a 12-month high of $157.56.

Materion (NYSE:MTRN) last issued its earnings results on Thursday, February 12th. The basic materials company reported $1.53 earnings per share for the quarter, missing the consensus estimate of $1.61 by ($0.08). Materion had a net margin of 1.12% and a return on equity of 12.66%. On average, equities analysts anticipate that Materion Corporation will post 5.5 earnings per share for the current year.

Materion Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Thursday, February 19th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Thursday, February 19th. Materion’s dividend payout ratio is 58.95%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Weiss Ratings restated a “hold (c-)” rating on shares of Materion in a research report on Thursday, January 22nd. KeyCorp set a $161.00 target price on Materion and gave the stock an “overweight” rating in a research report on Wednesday, January 14th. Finally, Wall Street Zen lowered Materion from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $161.00.

About Materion

Materion Corporation (NYSE: MTRN) is a global supplier of advanced materials and precision-engineered solutions. The company develops and manufactures high-performance alloys, engineered clad and composite materials, precision thin film products, and advanced optical and electronic materials. Materion’s offerings address critical performance requirements for industries where material properties such as strength, wear resistance, conductivity and optical clarity are paramount.

Materion’s core businesses include beryllium and beryllium composites for aerospace and defense platforms, nickel- and copper-based specialty alloys for industrial and medical applications, optical coatings and substrates for scientific instrumentation, and electronic materials used in semiconductor production.