Oppenheimer & Co. Inc. cut its position in Materion Corp (NYSE:MTRN) by 4.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 33,450 shares of the basic materials company’s stock after selling 1,500 shares during the quarter. Oppenheimer & Co. Inc. owned about 0.16% of Materion worth $1,909,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in MTRN. BlackRock Inc. lifted its stake in Materion by 3.2% in the fourth quarter. BlackRock Inc. now owns 3,091,415 shares of the basic materials company’s stock valued at $139,084,000 after acquiring an additional 95,302 shares during the last quarter. Vanguard Group Inc lifted its stake in shares of Materion by 3.8% in the third quarter. Vanguard Group Inc now owns 2,099,990 shares of the basic materials company’s stock worth $127,050,000 after buying an additional 77,515 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Materion by 3.8% in the third quarter. Vanguard Group Inc. now owns 2,099,990 shares of the basic materials company’s stock worth $127,050,000 after buying an additional 77,515 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of Materion by 5.0% in the fourth quarter. Acadian Asset Management LLC now owns 734,609 shares of the basic materials company’s stock worth $33,049,000 after buying an additional 34,870 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Materion in the fourth quarter worth $20,752,000. Institutional investors own 94.07% of the company’s stock.
In other news, Director Vinod M. Khilnani sold 1,855 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $65.84, for a total transaction of $122,133.20. Following the completion of the transaction, the director now directly owns 16,466 shares of the company’s stock, valued at approximately $1,084,121.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Gregory R. Chemnitz sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 21st. The stock was sold at an average price of $57.57, for a total transaction of $172,710.00. Following the transaction, the vice president now directly owns 6,223 shares of the company’s stock, valued at $358,258.11. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.
Shares of MTRN traded up $0.92 during trading hours on Wednesday, hitting $65.86. The stock had a trading volume of 200,600 shares, compared to its average volume of 117,756. Materion Corp has a 52 week low of $42.50 and a 52 week high of $71.97. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 3.32. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 27.67 and a beta of 1.01.
Materion (NYSE:MTRN) last released its earnings results on Thursday, May 2nd. The basic materials company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.22. Materion had a net margin of 2.25% and a return on equity of 10.20%. The company had revenue of $301.44 million for the quarter, compared to the consensus estimate of $297.70 million. During the same period in the prior year, the company posted $0.51 EPS. The company’s revenue was down .7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Materion Corp will post 3.03 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Monday, May 20th will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.67%. This is an increase from Materion’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Friday, May 17th. Materion’s dividend payout ratio (DPR) is currently 18.49%.
Several equities research analysts have issued reports on MTRN shares. Zacks Investment Research lowered shares of Materion from a “buy” rating to a “hold” rating in a report on Thursday, February 21st. ValuEngine lowered shares of Materion from a “buy” rating to a “hold” rating in a report on Wednesday, March 20th.
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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.
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