Sei Investments Co. Sells 5,335 Shares of Materion Corp (MTRN)
Sei Investments Co. decreased its holdings in Materion Corp (NYSE:MTRN) by 13.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,356 shares of the basic materials company’s stock after selling 5,335 shares during the period. Sei Investments Co. owned about 0.18% of Materion worth $1,526,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of the stock. BNP Paribas Arbitrage SA increased its position in shares of Materion by 52.2% during the third quarter. BNP Paribas Arbitrage SA now owns 11,651 shares of the basic materials company’s stock worth $503,000 after purchasing an additional 3,994 shares in the last quarter. BT Investment Management Ltd acquired a new position in shares of Materion during the third quarter worth $1,005,000. Crossmark Global Holdings Inc. acquired a new position in shares of Materion during the third quarter worth $266,000. Phocas Financial Corp. increased its position in shares of Materion by 4.7% during the second quarter. Phocas Financial Corp. now owns 269,383 shares of the basic materials company’s stock worth $10,075,000 after purchasing an additional 12,022 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Materion by 0.4% during the second quarter. The Manufacturers Life Insurance Company now owns 15,496 shares of the basic materials company’s stock worth $580,000 after purchasing an additional 58 shares in the last quarter. 90.02% of the stock is owned by institutional investors.
In other Materion news, Director N Mohan Reddy sold 11,393 shares of the company’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $50.11, for a total value of $570,903.23. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Gregory R. Chemnitz sold 3,000 shares of the company’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $49.60, for a total transaction of $148,800.00. Following the completion of the sale, the vice president now directly owns 13,061 shares in the company, valued at $647,825.60. The disclosure for this sale can be found here. Insiders have sold 48,470 shares of company stock worth $2,420,896 over the last three months. Corporate insiders own 2.90% of the company’s stock.
Materion (NYSE:MTRN) last announced its quarterly earnings data on Thursday, October 26th. The basic materials company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.10. The firm had revenue of $294.27 million for the quarter, compared to analyst estimates of $290.96 million. Materion had a net margin of 2.48% and a return on equity of 6.08%. The business’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.46 earnings per share. equities research analysts forecast that Materion Corp will post 1.6 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Wednesday, November 8th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend was Tuesday, November 7th. Materion’s dividend payout ratio (DPR) is presently 30.77%.
A number of equities analysts have recently issued reports on MTRN shares. BidaskClub downgraded Materion from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 10th. Zacks Investment Research raised shares of Materion from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a report on Wednesday, September 27th. ValuEngine lowered shares of Materion from a “buy” rating to a “hold” rating in a report on Friday, December 1st. KeyCorp reissued a “hold” rating on shares of Materion in a report on Monday, November 13th. Finally, Jefferies Group reissued a “hold” rating and set a $36.00 price objective on shares of Materion in a report on Thursday, October 12th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $39.50.
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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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