Swiss National Bank Increases Holdings in Materion Co. (NYSE:MTRN)

Posted by MarketBeat News on May 21st, 2023

Swiss National Bank lifted its position in shares of Materion Co. (NYSE:MTRN – Get Rating) by 1.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 49,500 shares of the basic materials company’s stock after purchasing an additional 900 shares during the quarter. Swiss National Bank’s holdings in Materion were worth $4,332,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of MTRN. Huntington National Bank grew its position in shares of Materion by 100,000.0% in the 3rd quarter. Huntington National Bank now owns 1,001 shares of the basic materials company’s stock worth $80,000 after buying an additional 1,000 shares during the last quarter. UBS Group AG raised its stake in Materion by 23.7% during the third quarter. UBS Group AG now owns 1,433 shares of the basic materials company’s stock valued at $115,000 after buying an additional 275 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in Materion during the second quarter valued at $111,000. Ellevest Inc. raised its stake in shares of Materion by 30.4% in the third quarter. Ellevest Inc. now owns 1,536 shares of the basic materials company’s stock worth $123,000 after purchasing an additional 358 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. purchased a new position in shares of Materion in the third quarter worth $132,000. 95.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on MTRN shares. KeyCorp boosted their price target on Materion from $92.00 to $130.00 and gave the stock an “overweight” rating in a research note on Friday, February 17th. StockNews.com raised Materion from a “hold” rating to a “buy” rating in a research note on Tuesday, May 16th. Finally, CL King increased their target price on Materion from $123.00 to $126.00 and gave the stock a “buy” rating in a research report on Tuesday, April 18th.

Insider Buying and Selling at Materion

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In other news, VP Gregory R. Chemnitz sold 2,423 shares of Materion stock in a transaction on Thursday, February 23rd. The stock was sold at an average price of $110.00, for a total value of $266,530.00. Following the transaction, the vice president now directly owns 19,360 shares in the company, valued at approximately $2,129,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Gregory R. Chemnitz sold 577 shares of the business’s stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $110.00, for a total value of $63,470.00. Following the completion of the transaction, the vice president now owns 18,783 shares of the company’s stock, valued at approximately $2,066,130. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Gregory R. Chemnitz sold 2,423 shares of the business’s stock in a transaction dated Thursday, February 23rd. The shares were sold at an average price of $110.00, for a total value of $266,530.00. Following the completion of the transaction, the vice president now directly owns 19,360 shares of the company’s stock, valued at approximately $2,129,600. The disclosure for this sale can be found here. Insiders sold a total of 7,776 shares of company stock valued at $823,482 in the last ninety days. Corporate insiders own 2.30% of the company’s stock.

Materion Stock Performance

NYSE MTRN opened at $105.35 on Friday. The stock has a market capitalization of $2.17 billion, a PE ratio of 22.46 and a beta of 1.08. The business has a 50 day simple moving average of $109.27 and a two-hundred day simple moving average of $96.69. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.85 and a quick ratio of 1.08. Materion Co. has a 1-year low of $64.89 and a 1-year high of $121.29.

Materion (NYSE:MTRN – Get Rating) last issued its quarterly earnings results on Wednesday, May 3rd. The basic materials company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.05. The firm had revenue of $442.50 million during the quarter, compared to analyst estimates of $447.10 million. Materion had a return on equity of 14.03% and a net margin of 5.57%. Materion’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period last year, the company earned $1.20 EPS. On average, research analysts predict that Materion Co. will post 5.78 EPS for the current fiscal year.

Materion Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Wednesday, May 31st will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Tuesday, May 30th. This is a positive change from Materion’s previous quarterly dividend of $0.13. This represents a $0.52 dividend on an annualized basis and a yield of 0.49%. Materion’s payout ratio is 10.66%.

About Materion

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Materion Corp. engages in the production of engineered materials used in a variety of electrical, electronic, thermal, and structural applications. It operates through the following business segments: Performance Materials, Electronic Materials, Precision Optics, and Other. The Performance Materials segment provides engineered solutions comprised of beryllium and non-beryllium.