Everence Capital Management Inc. purchased a new stake in Materion Co. (NYSE:MTRN – Get Rating) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 3,520 shares of the basic materials company’s stock, valued at approximately $302,000.
Several other large investors have also added to or reduced their stakes in MTRN. Bank of New York Mellon Corp increased its position in shares of Materion by 4.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 503,849 shares of the basic materials company’s stock valued at $34,583,000 after purchasing an additional 21,894 shares during the last quarter. Northern Trust Corp increased its position in shares of Materion by 0.9% during the 4th quarter. Northern Trust Corp now owns 443,820 shares of the basic materials company’s stock valued at $40,804,000 after purchasing an additional 4,067 shares during the last quarter. Copeland Capital Management LLC grew its position in Materion by 2.8% during the 4th quarter. Copeland Capital Management LLC now owns 415,125 shares of the basic materials company’s stock worth $38,167,000 after acquiring an additional 11,203 shares during the last quarter. Granite Investment Partners LLC grew its position in Materion by 4.1% during the 4th quarter. Granite Investment Partners LLC now owns 298,643 shares of the basic materials company’s stock worth $27,457,000 after acquiring an additional 11,845 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Materion by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 226,955 shares of the basic materials company’s stock worth $20,866,000 after acquiring an additional 3,027 shares during the last quarter. 91.69% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently issued reports on MTRN. CJS Securities began coverage on Materion in a research report on Tuesday, March 22nd. They set an “outperform” rating and a $120.00 price target on the stock. StockNews.com began coverage on Materion in a research report on Thursday, March 31st. They set a “hold” rating on the stock.
Materion (NYSE:MTRN – Get Rating) last released its quarterly earnings data on Thursday, April 28th. The basic materials company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.15. Materion had a return on equity of 12.56% and a net margin of 4.34%. The business had revenue of $449.05 million during the quarter, compared to analysts’ expectations of $415.03 million. During the same quarter last year, the business posted $0.82 EPS. The business’s revenue was up 26.7% on a year-over-year basis. Sell-side analysts predict that Materion Co. will post 5.5 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 16th. Shareholders of record on Friday, May 27th were issued a $0.125 dividend. The ex-dividend date was Thursday, May 26th. This represents a $0.50 annualized dividend and a yield of 0.70%. This is a boost from Materion’s previous quarterly dividend of $0.12. Materion’s dividend payout ratio (DPR) is 14.79%.
In other Materion news, VP Gregory R. Chemnitz sold 4,700 shares of the stock in a transaction that occurred on Friday, May 13th. The stock was sold at an average price of $80.00, for a total value of $376,000.00. Following the completion of the sale, the vice president now owns 17,195 shares in the company, valued at approximately $1,375,600. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 2.10% of the company’s stock.
Materion Company Profile (Get Rating)
Materion Corporation, through 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. It operates through Performance Alloys and Composites, Advanced Materials, and Precision Optics segments.
- Get a free copy of the StockNews.com research report on Materion (MTRN)
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