New York State Teachers Retirement System raised its stake in shares of Materion Corporation (NYSE:MTRN) by 0.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,742 shares of the basic materials company’s stock after buying an additional 400 shares during the period. New York State Teachers Retirement System owned approximately 0.37% of Materion Corporation worth $2,508,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of MTRN. Citadel Advisors LLC raised its position in Materion Corporation by 56.9% in the first quarter. Citadel Advisors LLC now owns 86,325 shares of the basic materials company’s stock valued at $2,896,000 after buying an additional 31,305 shares during the period. Geode Capital Management LLC raised its position in Materion Corporation by 6.0% in the first quarter. Geode Capital Management LLC now owns 160,658 shares of the basic materials company’s stock valued at $5,390,000 after buying an additional 9,081 shares during the period. Vanguard Group Inc. raised its position in Materion Corporation by 6.1% in the first quarter. Vanguard Group Inc. now owns 1,879,751 shares of the basic materials company’s stock valued at $63,066,000 after buying an additional 108,041 shares during the period. Uniplan Investment Counsel Inc. raised its position in Materion Corporation by 2.2% in the first quarter. Uniplan Investment Counsel Inc. now owns 173,911 shares of the basic materials company’s stock valued at $5,834,000 after buying an additional 3,678 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its position in Materion Corporation by 53.2% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 216,025 shares of the basic materials company’s stock valued at $7,248,000 after buying an additional 74,978 shares during the period. 89.61% of the stock is currently owned by hedge funds and other institutional investors.

Materion Corporation (NYSE:MTRN) opened at 37.45 on Monday. Materion Corporation has a 1-year low of $24.32 and a 1-year high of $41.22. The firm has a 50-day moving average of $35.74 and a 200 day moving average of $36.41. The firm has a market cap of $748.48 million, a P/E ratio of 32.59 and a beta of 1.15.

Materion Corporation (NYSE:MTRN) last released its earnings results on Friday, April 28th. The basic materials company reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.01. The company had revenue of $240.67 million during the quarter, compared to the consensus estimate of $231.58 million. Materion Corporation had a net margin of 2.40% and a return on equity of 5.50%. The company’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.27 EPS. On average, analysts predict that Materion Corporation will post $1.50 EPS for the current year.

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Several research firms recently commented on MTRN. Jefferies Group LLC reissued a “hold” rating and issued a $34.00 target price on shares of Materion Corporation in a report on Friday, July 7th. Zacks Investment Research lowered Materion Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th.

In other news, insider Richard J. Hipple sold 2,500 shares of the business’s stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $37.38, for a total value of $93,450.00. Following the completion of the sale, the insider now owns 57,091 shares of the company’s stock, valued at approximately $2,134,061.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Richard J. Hipple sold 5,000 shares of the business’s stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $34.17, for a total transaction of $170,850.00. Following the completion of the sale, the insider now directly owns 114,591 shares of the company’s stock, valued at approximately $3,915,574.47. The disclosure for this sale can be found here. Insiders sold a total of 72,500 shares of company stock valued at $2,579,650 in the last three months. Insiders own 2.90% of the company’s stock.

About Materion Corporation

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.

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

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