Confluence Investment Management LLC Buys 976 Shares of Materion Co. (NYSE:MTRN)

Confluence Investment Management LLC increased its stake in Materion Co. (NYSE:MTRNGet Rating) by 28.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,415 shares of the basic materials company’s stock after purchasing an additional 976 shares during the quarter. Confluence Investment Management LLC’s holdings in Materion were worth $326,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Portolan Capital Management LLC purchased a new stake in Materion in the 1st quarter worth $3,337,000. Goldman Sachs Group Inc. increased its stake in Materion by 81.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 75,056 shares of the basic materials company’s stock worth $6,436,000 after buying an additional 33,701 shares in the last quarter. Captrust Financial Advisors increased its stake in Materion by 51.3% in the 1st quarter. Captrust Financial Advisors now owns 1,991 shares of the basic materials company’s stock worth $171,000 after buying an additional 675 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Materion by 85.3% during the first quarter. Wellington Management Group LLP now owns 22,379 shares of the basic materials company’s stock valued at $1,918,000 after purchasing an additional 10,300 shares in the last quarter. Finally, State Street Corp grew its position in shares of Materion by 21.3% during the first quarter. State Street Corp now owns 1,030,733 shares of the basic materials company’s stock valued at $88,375,000 after purchasing an additional 181,087 shares in the last quarter. 94.00% of the stock is owned by institutional investors.

Materion Stock Performance

NYSE:MTRN opened at $78.54 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.35 and a current ratio of 3.36. The company has a fifty day moving average of $84.29 and a two-hundred day moving average of $82.11. The stock has a market capitalization of $1.61 billion, a PE ratio of 21.64 and a beta of 1.26. Materion Co. has a fifty-two week low of $68.01 and a fifty-two week high of $97.89.

Materion (NYSE:MTRNGet Rating) last issued its earnings results on Wednesday, August 3rd. The basic materials company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.07. The business had revenue of $445.30 million during the quarter, compared to analysts’ expectations of $455.48 million. Materion had a net margin of 4.47% and a return on equity of 13.45%. The company’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.86 earnings per share. As a group, research analysts forecast that Materion Co. will post 5.53 earnings per share for the current fiscal year.

Materion Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 8th. Investors of record on Wednesday, August 24th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend was Tuesday, August 23rd. Materion’s payout ratio is currently 13.77%.

Insider Buying and Selling

In other Materion news, VP Gregory R. Chemnitz sold 2,868 shares of Materion stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $96.35, for a total transaction of $276,331.80. Following the completion of the sale, the vice president now directly owns 17,195 shares in the company, valued at $1,656,738.25. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently commented on MTRN. CL King started coverage on Materion in a research report on Wednesday, July 6th. They issued a “buy” rating and a $95.00 price target for the company. KeyCorp dropped their price target on Materion from $106.00 to $100.00 and set an “overweight” rating on the stock in a research report on Friday, July 8th.

Materion Company Profile

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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.

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Institutional Ownership by Quarter for Materion (NYSE:MTRN)

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