Phocas Financial Corp. Sells 4,826 Shares of Materion Co. (NYSE:MTRN)

Phocas Financial Corp. reduced its position in shares of Materion Co. (NYSE:MTRN) by 5.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 76,387 shares of the basic materials company’s stock after selling 4,826 shares during the period. Phocas Financial Corp.’s holdings in Materion were worth $8,545,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Arizona State Retirement System increased its stake in shares of Materion by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 5,780 shares of the basic materials company’s stock valued at $625,000 after buying an additional 107 shares during the period. Dakota Wealth Management lifted its position in Materion by 1.8% during the 2nd quarter. Dakota Wealth Management now owns 11,190 shares of the basic materials company’s stock valued at $1,210,000 after purchasing an additional 200 shares during the period. Louisiana State Employees Retirement System boosted its stake in shares of Materion by 2.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 10,400 shares of the basic materials company’s stock valued at $1,125,000 after purchasing an additional 200 shares during the last quarter. Confluence Investment Management LLC grew its position in shares of Materion by 6.4% during the 3rd quarter. Confluence Investment Management LLC now owns 3,827 shares of the basic materials company’s stock worth $428,000 after buying an additional 231 shares during the period. Finally, Opal Wealth Advisors LLC bought a new stake in shares of Materion during the second quarter worth approximately $25,000. 93.56% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Materion from a “sell” rating to a “hold” rating in a report on Thursday, August 8th.

Materion Stock Down 1.1 %

Shares of NYSE:MTRN opened at $113.22 on Tuesday. The company has a 50 day moving average price of $107.95 and a two-hundred day moving average price of $110.36. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.26 and a current ratio of 3.15. The company has a market capitalization of $2.35 billion, a PE ratio of 31.89 and a beta of 1.19. Materion Co. has a 52 week low of $96.18 and a 52 week high of $145.08.

Materion (NYSE:MTRN) last issued its quarterly earnings data on Wednesday, October 30th. The basic materials company reported $1.41 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.41. Materion had a return on equity of 12.06% and a net margin of 4.45%. The business had revenue of $436.70 million during the quarter, compared to analyst estimates of $416.40 million. During the same period in the previous year, the firm earned $1.39 EPS. Materion’s quarterly revenue was up 8.3% compared to the same quarter last year. Analysts forecast that Materion Co. will post 5.24 earnings per share for the current year.

Materion Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Thursday, November 14th will be paid a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend is Thursday, November 14th. Materion’s dividend payout ratio is 15.21%.

Insider Activity

In other news, VP Gregory R. Chemnitz sold 2,000 shares of Materion stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $117.57, for a total value of $235,140.00. Following the sale, the vice president now directly owns 12,031 shares in the company, valued at $1,414,484.67. This trade represents a 14.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.60% of the company’s stock.

Materion Profile

Materion Corporation, together with its subsidiaries, produces advanced engineered materials used in semiconductor, industrial, aerospace and defense, automotive, energy, consumer electronics, and telecom and data center in the United States, Asia, Europe, and internationally. The company operates in four segments: Performance Materials, Electronic Materials, Precision Optics, and Other.