Squarepoint Ops LLC Boosts Holdings in Materion Corp (NYSE:MTRN)
Squarepoint Ops LLC grew its stake in shares of Materion Corp (NYSE:MTRN) by 73.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 82,417 shares of the basic materials company’s stock after acquiring an additional 34,910 shares during the quarter. Squarepoint Ops LLC owned about 0.40% of Materion worth $5,057,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Covington Capital Management purchased a new stake in Materion in the third quarter valued at approximately $92,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Materion by 65.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,525 shares of the basic materials company’s stock valued at $103,000 after purchasing an additional 604 shares during the last quarter. Point72 Hong Kong Ltd grew its stake in shares of Materion by 55.9% during the 2nd quarter. Point72 Hong Kong Ltd now owns 1,651 shares of the basic materials company’s stock valued at $112,000 after buying an additional 592 shares during the period. Quantamental Technologies LLC grew its stake in shares of Materion by 33.1% during the 2nd quarter. Quantamental Technologies LLC now owns 1,741 shares of the basic materials company’s stock valued at $118,000 after buying an additional 433 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in shares of Materion during the 3rd quarter valued at $139,000. Institutional investors and hedge funds own 89.34% of the company’s stock.
Several brokerages recently weighed in on MTRN. ValuEngine lowered Materion from a “hold” rating to a “sell” rating in a research report on Wednesday, November 13th. Zacks Investment Research downgraded Materion from a “hold” rating to a “sell” rating in a research report on Wednesday, October 30th.
Materion (NYSE:MTRN) last posted its earnings results on Thursday, October 24th. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.81. Materion had a net margin of 1.25% and a return on equity of 11.28%. The firm had revenue of $305.98 million during the quarter, compared to the consensus estimate of $295.45 million. During the same quarter in the prior year, the company earned $0.68 EPS. The company’s revenue was up 3.0% on a year-over-year basis. On average, equities research analysts expect that Materion Corp will post 3.18 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Friday, November 8th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $0.44 annualized dividend and a yield of 0.76%. Materion’s dividend payout ratio is currently 18.49%.
Materion Company Profile
Materion Corporation manufactures and sells advanced engineered materials used in consumer electronics, industrial components, defense, medical, automotive electronics, telecommunications infrastructure, energy, commercial aerospace, science, services, and appliance markets worldwide. The company operates in four segments: Performance Alloys and Composites, Advanced Materials, Precision Coatings, and Other.
Further Reading: Accumulation/Distribution
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