Vanguard Group Inc. Buys 35,888 Shares of Materion Co. (NYSE:MTRN)

Vanguard Group Inc. raised its stake in Materion Co. (NYSE:MTRN) by 1.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,531,802 shares of the basic materials company’s stock after acquiring an additional 35,888 shares during the quarter. Vanguard Group Inc. owned about 12.27% of Materion worth $258,016,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Jennison Associates LLC bought a new stake in shares of Materion in the third quarter valued at approximately $20,614,000. State Street Corp lifted its holdings in shares of Materion by 21.3% during the 1st quarter. State Street Corp now owns 1,030,733 shares of the basic materials company’s stock worth $88,375,000 after acquiring an additional 181,087 shares during the period. Norges Bank bought a new stake in shares of Materion during the 4th quarter worth approximately $14,780,000. Trigran Investments Inc. lifted its holdings in shares of Materion by 14.6% during the 3rd quarter. Trigran Investments Inc. now owns 675,294 shares of the basic materials company’s stock worth $68,819,000 after acquiring an additional 86,134 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Materion by 79.2% during the 2nd quarter. Goldman Sachs Group Inc. now owns 134,486 shares of the basic materials company’s stock worth $9,915,000 after acquiring an additional 59,430 shares during the period. 93.56% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, KeyCorp upped their price target on shares of Materion from $140.00 to $157.00 and gave the stock an “overweight” rating in a report on Friday, February 16th.

Insider Buying and Selling

In related news, VP Gregory R. Chemnitz sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $133.74, for a total transaction of $401,220.00. Following the completion of the transaction, the vice president now directly owns 14,510 shares in the company, valued at approximately $1,940,567.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, VP Gregory R. Chemnitz sold 3,000 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $133.74, for a total value of $401,220.00. Following the sale, the vice president now directly owns 14,510 shares of the company’s stock, valued at approximately $1,940,567.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Shelly Marie Chadwick sold 2,000 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $132.60, for a total transaction of $265,200.00. Following the completion of the sale, the chief financial officer now directly owns 13,147 shares in the company, valued at $1,743,292.20. The disclosure for this sale can be found here. 2.30% of the stock is owned by corporate insiders.

Materion Price Performance

MTRN stock opened at $131.75 on Friday. The company has a 50 day simple moving average of $128.04 and a 200 day simple moving average of $116.78. The stock has a market cap of $2.72 billion, a price-to-earnings ratio of 28.77 and a beta of 1.15. Materion Co. has a 1 year low of $92.23 and a 1 year high of $145.08. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.78 and a quick ratio of 1.05.

Materion (NYSE:MTRN) last released its quarterly earnings data on Thursday, February 15th. The basic materials company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.03. The business had revenue of $421.00 million during the quarter, compared to analysts’ expectations of $420.50 million. Materion had a net margin of 5.75% and a return on equity of 13.49%. The firm’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.49 EPS. Research analysts anticipate that Materion Co. will post 6.3 EPS for the current fiscal year.

Materion Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Thursday, February 22nd were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend was Wednesday, February 21st. Materion’s dividend payout ratio is 11.35%.

About Materion

Materion Corporation, together 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. The company operates in four segments: Performance Materials, Electronic Materials, Precision Optics, and Other.