Materion Corporation (MTRN) Position Increased by Vanguard Group Inc.
Vanguard Group Inc. increased its position in shares of Materion Corporation (NYSE:MTRN) by 6.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,879,751 shares of the basic materials company’s stock after buying an additional 108,041 shares during the period. Vanguard Group Inc. owned approximately 9.42% of Materion Corporation worth $63,066,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Uniplan Investment Counsel Inc. boosted its stake in shares of 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 in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of 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 in the last quarter. Legal & General Group Plc boosted its stake in shares of Materion Corporation by 1.4% in the first quarter. Legal & General Group Plc now owns 34,264 shares of the basic materials company’s stock valued at $1,147,000 after buying an additional 482 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Materion Corporation by 1.9% in the first quarter. PNC Financial Services Group Inc. now owns 5,096 shares of the basic materials company’s stock valued at $171,000 after buying an additional 96 shares in the last quarter. Finally, Teachers Advisors LLC boosted its stake in shares of Materion Corporation by 3.3% in the first quarter. Teachers Advisors LLC now owns 39,595 shares of the basic materials company’s stock valued at $1,328,000 after buying an additional 1,280 shares in the last quarter. 89.08% of the stock is currently owned by institutional investors.
Shares of Materion Corporation (MTRN) traded up 0.13% during mid-day trading on Monday, hitting $39.05. 3,093 shares of the stock traded hands. The company has a market cap of $782.48 million, a P/E ratio of 31.52 and a beta of 1.16. Materion Corporation has a one year low of $25.82 and a one year high of $41.22. The stock has a 50 day moving average price of $37.49 and a 200-day moving average price of $36.03.
Materion Corporation (NYSE:MTRN) last released its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.02. The business had revenue of $295.80 million for the quarter, compared to analyst estimates of $254.28 million. Materion Corporation had a return on equity of 5.96% and a net margin of 2.47%. The company’s revenue was up 18.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.31 EPS. On average, analysts forecast that Materion Corporation will post $1.51 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Friday, August 18th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Wednesday, August 16th. Materion Corporation’s dividend payout ratio is currently 32.26%.
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MTRN has been the topic of several research reports. Zacks Investment Research raised shares of Materion Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, April 26th. Jefferies Group LLC reissued a “hold” rating and set a $34.00 price target on shares of Materion Corporation in a research report on Friday, July 7th. Finally, BidaskClub raised shares of Materion Corporation from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 2nd. Two investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $36.67.
In other news, VP Gregory R. Chemnitz sold 3,000 shares of Materion Corporation stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $38.29, for a total value of $114,870.00. Following the transaction, the vice president now directly owns 18,052 shares of the company’s stock, valued at approximately $691,211.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Richard J. Hipple sold 2,500 shares of Materion Corporation stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $34.17, for a total value of $85,425.00. Following the completion of the transaction, the insider now directly owns 124,591 shares in the company, valued at $4,257,274.47. The disclosure for this sale can be found here. Insiders sold a total of 75,500 shares of company stock worth $2,694,520 over the last ninety days. Corporate 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.
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