State Board of Administration of Florida Retirement System Buys 330 Shares of Materion Co. (NYSE:MTRN)

State Board of Administration of Florida Retirement System boosted its holdings in Materion Co. (NYSE:MTRN – Get Rating) by 10.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,597 shares of the basic materials company’s stock after acquiring an additional 330 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Materion were worth $315,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Confluence Investment Management LLC grew its holdings in shares of Materion by 2.6% during the 4th quarter. Confluence Investment Management LLC now owns 4,835 shares of the basic materials company’s stock worth $423,000 after purchasing an additional 124 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Materion by 2.3% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 6,765 shares of the basic materials company’s stock worth $541,000 after purchasing an additional 152 shares in the last quarter. Captrust Financial Advisors grew its holdings in shares of Materion by 9.2% during the 2nd quarter. Captrust Financial Advisors now owns 2,174 shares of the basic materials company’s stock worth $160,000 after purchasing an additional 183 shares in the last quarter. Uniplan Investment Counsel Inc. grew its holdings in shares of Materion by 0.5% during the 3rd quarter. Uniplan Investment Counsel Inc. now owns 41,945 shares of the basic materials company’s stock worth $3,355,000 after purchasing an additional 200 shares in the last quarter. Finally, Yousif Capital Management LLC grew its holdings in shares of Materion by 1.1% during the 1st quarter. Yousif Capital Management LLC now owns 18,880 shares of the basic materials company’s stock worth $1,619,000 after purchasing an additional 213 shares in the last quarter. Institutional investors own 95.66% of the company’s stock.

Materion Stock Down 0.2 %

Shares of NYSE:MTRN opened at $105.35 on Monday. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of 22.46 and a beta of 1.08. The company has a quick ratio of 1.08, a current ratio of 2.85 and a debt-to-equity ratio of 0.51. Materion Co. has a 12-month low of $64.89 and a 12-month high of $121.29. The business’s 50 day moving average is $109.27 and its 200 day moving average is $96.89.

Materion (NYSE:MTRN – Get Rating) last issued its quarterly earnings results on Wednesday, May 3rd. The basic materials company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.05. The business had revenue of $442.50 million for 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 posted $1.20 earnings per share. On average, sell-side analysts forecast that Materion Co. will post 5.78 earnings per share 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 paid a $0.13 dividend. The ex-dividend date is Tuesday, May 30th. This is a positive change from Materion’s previous quarterly dividend of $0.13. This represents a $0.52 annualized dividend and a dividend yield of 0.49%. Materion’s payout ratio is presently 10.66%.

Insider Activity at Materion

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

Analyst Upgrades and Downgrades

MTRN has been the subject of several research reports. StockNews.com upgraded Materion from a “hold” rating to a “buy” rating in a research report on Tuesday, May 16th. KeyCorp raised their price objective on Materion from $92.00 to $130.00 and gave the stock an “overweight” rating in a research report on Friday, February 17th. Finally, CL King raised their target price on Materion from $123.00 to $126.00 and gave the stock a “buy” rating in a research note on Tuesday, April 18th.

Materion Profile

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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.