Teacher Retirement System of Texas lifted its holdings in Materion Co. (NYSE:MTRN – Get Rating) by 7.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 4,224 shares of the basic materials company’s stock after purchasing an additional 282 shares during the quarter. Teacher Retirement System of Texas’ holdings in Materion were worth $362,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of MTRN. abrdn plc boosted its position in Materion by 3.8% during the 1st quarter. abrdn plc now owns 759,192 shares of the basic materials company’s stock worth $65,943,000 after acquiring an additional 27,686 shares during the last quarter. Northern Trust Corp boosted its position in Materion by 0.9% during the 4th quarter. Northern Trust Corp now owns 443,820 shares of the basic materials company’s stock worth $40,804,000 after acquiring an additional 4,067 shares during the last quarter. Copeland Capital Management LLC boosted its position in Materion by 1.9% during the 1st quarter. Copeland Capital Management LLC now owns 422,942 shares of the basic materials company’s stock worth $36,263,000 after acquiring an additional 7,817 shares during the last quarter. Granite Investment Partners LLC boosted its position in Materion by 4.1% during the 4th quarter. Granite Investment Partners LLC now owns 298,643 shares of the basic materials company’s stock worth $27,457,000 after acquiring an additional 11,845 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Materion by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 226,955 shares of the basic materials company’s stock worth $20,866,000 after acquiring an additional 3,027 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Materion
In related news, VP Gregory R. Chemnitz sold 2,868 shares of the stock in a transaction on Friday, August 19th. The stock was sold at an average price of $96.35, for a total value of $276,331.80. Following the sale, the vice president now owns 17,195 shares in the company, valued at approximately $1,656,738.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.10% of the stock is owned by company insiders.
Materion Trading Up 3.0 %
Shares of Materion stock opened at $93.74 on Friday. Materion Co. has a 12-month low of $68.01 and a 12-month high of $97.89. The stock has a market cap of $1.92 billion, a P/E ratio of 25.82 and a beta of 1.30. The company has a quick ratio of 1.35, a current ratio of 3.36 and a debt-to-equity ratio of 0.66. The business’s 50 day moving average is $80.47 and its 200-day moving average is $82.17.
Materion (NYSE:MTRN – Get Rating) last announced its quarterly earnings data on Wednesday, August 3rd. The basic materials company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.07. Materion had a return on equity of 13.45% and a net margin of 4.47%. The company had revenue of $445.30 million for the quarter, compared to analysts’ expectations of $455.48 million. During the same quarter in the prior year, the business posted $0.86 EPS. The business’s revenue was up 20.0% compared to the same quarter last year. Equities research analysts predict that Materion Co. will post 5.53 earnings per share for the current fiscal year.
Materion Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 8th. Investors of record on Wednesday, August 24th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend is Tuesday, August 23rd. Materion’s dividend payout ratio (DPR) is presently 13.77%.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on the company. KeyCorp reduced their price target on Materion from $106.00 to $100.00 and set an “overweight” rating for the company in a research report on Friday, July 8th. CL King initiated coverage on Materion in a research note on Wednesday, July 6th. They set a “buy” rating and a $95.00 price objective on the stock.
Materion Company Profile
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.
Receive News & Ratings for Materion Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Materion and related companies with MarketBeat.com’s FREE daily email newsletter.