State of New Jersey Common Pension Fund D Has $2.89 Million Stock Position in Materion Co. (NYSE:MTRN)

State of New Jersey Common Pension Fund D lowered its position in shares of Materion Co. (NYSE:MTRN) by 6.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 22,233 shares of the basic materials company’s stock after selling 1,644 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Materion were worth $2,893,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. CENTRAL TRUST Co raised its stake in Materion by 529.0% during the fourth quarter. CENTRAL TRUST Co now owns 195 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 164 shares in the last quarter. Anchor Investment Management LLC acquired a new position in Materion during the fourth quarter worth about $137,000. AdvisorNet Financial Inc raised its stake in Materion by 189.6% during the fourth quarter. AdvisorNet Financial Inc now owns 1,222 shares of the basic materials company’s stock worth $159,000 after acquiring an additional 800 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new position in Materion during the third quarter worth about $191,000. Finally, Wetzel Investment Advisors Inc. acquired a new position in Materion during the fourth quarter worth about $195,000. Institutional investors and hedge funds own 93.56% of the company’s stock.

Insider Transactions at Materion

In other news, CFO Shelly Marie Chadwick sold 2,000 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $132.60, for a total transaction of $265,200.00. Following the sale, the chief financial officer now directly owns 13,147 shares in the company, valued at $1,743,292.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 stock was 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 in the company, valued at $1,940,567.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Shelly Marie Chadwick sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $132.60, for a total value of $265,200.00. Following the completion of the sale, the chief financial officer now owns 13,147 shares in the company, valued at $1,743,292.20. The disclosure for this sale can be found here. Company insiders own 2.30% of the company’s stock.

Analysts Set New Price Targets

Separately, KeyCorp lowered their target price on Materion from $157.00 to $156.00 and set an “overweight” rating for the company in a research note on Monday, April 1st.

Materion Stock Performance

NYSE:MTRN opened at $119.40 on Monday. The stock has a market cap of $2.48 billion, a P/E ratio of 26.07 and a beta of 1.14. The company has a current ratio of 2.78, a quick ratio of 1.05 and a debt-to-equity ratio of 0.45. The stock’s 50-day moving average is $128.78 and its 200-day moving average is $120.08. Materion Co. has a 1-year low of $92.23 and a 1-year high of $145.08.

Materion (NYSE:MTRN) last released its quarterly earnings results on Thursday, February 15th. The basic materials company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.03. The company had revenue of $421.00 million for the quarter, compared to analysts’ expectations of $420.50 million. Materion had a return on equity of 13.49% and a net margin of 5.75%. The business’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.49 earnings per share. Equities research analysts anticipate that Materion Co. will post 6.03 earnings per share for the current year.

Materion Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Thursday, February 22nd were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend was Wednesday, February 21st. Materion’s dividend payout ratio (DPR) is currently 11.35%.

Materion Profile

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.