Oppenheimer & Co. Inc. maintained its stake in Materion Corporation (NYSE:MTRN) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,300 shares of the basic materials company’s stock at the end of the 2nd quarter. Oppenheimer & Co. Inc. owned about 0.18% of Materion Corporation worth $1,358,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in shares of Materion Corporation during the first quarter valued at about $115,000. Victory Capital Management Inc. grew its holdings in shares of Materion Corporation by 50.5% in the first quarter. Victory Capital Management Inc. now owns 3,789 shares of the basic materials company’s stock valued at $127,000 after purchasing an additional 1,271 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Materion Corporation by 79.5% in the second quarter. State of Alaska Department of Revenue now owns 3,949 shares of the basic materials company’s stock valued at $147,000 after purchasing an additional 1,749 shares in the last quarter. Mason Street Advisors LLC grew its holdings in shares of Materion Corporation by 7.1% in the first quarter. Mason Street Advisors LLC now owns 4,665 shares of the basic materials company’s stock valued at $157,000 after purchasing an additional 308 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC purchased a new position in Materion Corporation in the first quarter worth approximately $160,000. Institutional investors and hedge funds own 90.80% of the company’s stock.
A number of brokerages recently issued reports on MTRN. BidaskClub downgraded shares of Materion Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 18th. Jefferies Group LLC reiterated a “hold” rating and issued a $34.00 price target on shares of Materion Corporation in a research note on Friday, July 7th. Finally, Zacks Investment Research downgraded shares of Materion Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th.
Materion Corporation (MTRN) opened at 38.35 on Friday. The firm has a market capitalization of $768.46 million, a PE ratio of 30.95 and a beta of 1.15. Materion Corporation has a one year low of $28.50 and a one year high of $41.23. The stock has a 50 day moving average of $38.21 and a 200-day moving average of $36.08.
Materion Corporation (NYSE:MTRN) last issued its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.02. The business had revenue of $295.80 million for the quarter, compared to analyst estimates of $254.28 million. Materion Corporation had a return on equity of 5.96% and a net margin of 2.47%. The firm’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.31 earnings per share. On average, equities analysts predict that Materion Corporation will post $1.52 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Friday, August 18th were issued a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $0.40 dividend on an annualized basis and a yield of 1.04%. Materion Corporation’s dividend payout ratio is presently 32.26%.
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In other Materion Corporation news, VP Gregory R. Chemnitz sold 3,000 shares of the stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $38.29, for a total value of $114,870.00. Following the completion of the sale, the vice president now directly owns 18,052 shares in the company, valued at $691,211.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Richard J. Hipple sold 5,000 shares of the stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $37.05, for a total value of $185,250.00. Following the completion of the sale, the insider now owns 62,091 shares of the company’s stock, valued at $2,300,471.55. The disclosure for this sale can be found here. Insiders sold 10,500 shares of company stock valued at $393,570 in the last quarter. 2.90% of the stock is currently owned by corporate insiders.
About Materion Corporation
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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