Rhumbline Advisers Buys 117 Shares of Materion Corporation (MTRN)
Rhumbline Advisers increased its stake in shares of Materion Corporation (NYSE:MTRN) by 0.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,654 shares of the basic materials company’s stock after buying an additional 117 shares during the quarter. Rhumbline Advisers owned about 0.24% of Materion Corporation worth $1,782,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. BlackRock Inc. grew its stake in Materion Corporation by 12,689.6% during the 1st quarter. BlackRock Inc. now owns 2,645,014 shares of the basic materials company’s stock worth $88,740,000 after buying an additional 2,624,333 shares during the last quarter. Vanguard Group Inc. grew its stake in Materion Corporation by 6.1% during the 1st quarter. Vanguard Group Inc. now owns 1,879,751 shares of the basic materials company’s stock worth $63,066,000 after buying an additional 108,041 shares during the last quarter. Ameriprise Financial Inc. grew its stake in Materion Corporation by 12.4% during the 1st quarter. Ameriprise Financial Inc. now owns 649,987 shares of the basic materials company’s stock worth $21,808,000 after buying an additional 71,786 shares during the last quarter. State Street Corp grew its stake in Materion Corporation by 1.6% during the 1st quarter. State Street Corp now owns 645,983 shares of the basic materials company’s stock worth $21,668,000 after buying an additional 10,359 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Materion Corporation by 7.9% during the 1st quarter. Bank of New York Mellon Corp now owns 357,546 shares of the basic materials company’s stock worth $11,994,000 after buying an additional 26,262 shares during the last quarter. Hedge funds and other institutional investors own 90.80% of the company’s stock.
Materion Corporation (MTRN) opened at 37.95 on Monday. Materion Corporation has a 1-year low of $28.50 and a 1-year high of $41.22. The stock has a 50 day moving average price of $38.21 and a 200 day moving average price of $36.03. The company has a market cap of $760.44 million, a PE ratio of 30.63 and a beta of 1.15.
Materion Corporation (NYSE:MTRN) last posted its earnings results on Thursday, July 27th. The basic materials company reported $0.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.02. The business had revenue of $295.80 million during the quarter, compared to the consensus estimate of $254.28 million. Materion Corporation had a return on equity of 5.96% and a net margin of 2.47%. Materion Corporation’s revenue was up 18.4% on a year-over-year basis. During the same quarter last year, the company earned $0.31 EPS. Equities analysts forecast that Materion Corporation will post $1.52 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Friday, August 18th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $0.40 dividend on an annualized basis and a yield of 1.05%. Materion Corporation’s dividend payout ratio is 32.26%.
A number of brokerages recently commented on MTRN. BidaskClub downgraded Materion Corporation from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 10th. Zacks Investment Research upgraded Materion Corporation from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research note on Saturday, May 27th. Finally, Jefferies Group LLC restated a “hold” rating and set a $34.00 price objective on shares of Materion Corporation in a research note on Friday, July 7th.
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In related news, VP Gregory R. Chemnitz sold 3,000 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $38.29, for a total transaction of $114,870.00. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Richard J. Hipple sold 2,500 shares of the firm’s stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $37.16, for a total value of $92,900.00. Following the sale, the insider now directly owns 69,591 shares of the company’s stock, valued at $2,586,001.56. The disclosure for this sale can be found here. Insiders have sold a total of 23,000 shares of company stock valued at $856,570 over the last ninety days. Insiders own 2.90% of the company’s stock.
Materion Corporation 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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