Royal Bank of Canada Sells 38,438 Shares of Materion Corporation $MTRN

Royal Bank of Canada reduced its stake in shares of Materion Corporation (NYSE:MTRN) by 14.9% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 219,050 shares of the basic materials company’s stock after selling 38,438 shares during the quarter. Royal Bank of Canada’s holdings in Materion were worth $31,685,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Maseco LLP bought a new position in Materion during the 4th quarter worth approximately $27,000. Measured Wealth Private Client Group LLC bought a new stake in Materion in the third quarter valued at approximately $35,000. Kestra Advisory Services LLC bought a new stake in Materion in the fourth quarter valued at approximately $40,000. EverSource Wealth Advisors LLC raised its holdings in Materion by 182.9% in the second quarter. EverSource Wealth Advisors LLC now owns 348 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 225 shares during the period. Finally, Hantz Financial Services Inc. boosted its position in shares of Materion by 69.8% during the fourth quarter. Hantz Financial Services Inc. now owns 360 shares of the basic materials company’s stock worth $45,000 after purchasing an additional 148 shares in the last quarter. 93.56% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MTRN. Weiss Ratings raised shares of Materion from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 23rd. KeyCorp lifted their target price on Materion from $223.00 to $237.00 and gave the stock an “overweight” rating in a report on Tuesday, June 2nd. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Materion has an average rating of “Moderate Buy” and a consensus price target of $237.00.

Materion Stock Performance

Shares of MTRN opened at $215.01 on Tuesday. The firm has a market cap of $4.47 billion, a P/E ratio of 58.75 and a beta of 1.03. Materion Corporation has a twelve month low of $104.34 and a twelve month high of $298.87. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 3.04. The firm’s 50 day moving average price is $246.51 and its two-hundred day moving average price is $191.45.

Materion Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Thursday, August 20th will be given a $0.145 dividend. This represents a $0.58 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Thursday, August 20th. Materion’s payout ratio is currently 15.85%.

About Materion

Materion Corporation (NYSE: MTRN) is a global supplier of advanced materials and precision-engineered solutions. The company develops and manufactures high-performance alloys, engineered clad and composite materials, precision thin film products, and advanced optical and electronic materials. Materion’s offerings address critical performance requirements for industries where material properties such as strength, wear resistance, conductivity and optical clarity are paramount.

Materion’s core businesses include beryllium and beryllium composites for aerospace and defense platforms, nickel- and copper-based specialty alloys for industrial and medical applications, optical coatings and substrates for scientific instrumentation, and electronic materials used in semiconductor production.