Arrowstreet Capital Limited Partnership Makes New $2.67 Million Investment in Materion Corporation $MTRN

Key Points

• Arrowstreet Capital initiated a $2.67 million position in Materion, purchasing 18,433 shares, while institutional investors collectively owned 93.56% of the company. Several other major investors also increased their stakes.
• Materion shares opened at $225.96, with a 52-week range of $104.63 to $298.87 and a market capitalization of approximately $4.70 billion. The company declared a quarterly dividend of $0.145 per share, equal to a 0.3% yield.
• Analyst sentiment remains favorable, with Materion carrying a “Moderate Buy” consensus rating and a $237 average price target. KeyCorp raised its target from $223 to $237 and maintained an “overweight” rating.

Arrowstreet Capital Limited Partnership bought a new stake in Materion Corporation (NYSE:MTRN - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 18,433 shares of the basic materials company's stock, valued at approximately $2,666,000. Arrowstreet Capital Limited Partnership owned 0.09% of Materion at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in MTRN. UBS Group AG increased its position in shares of Materion by 18.8% during the fourth quarter. UBS Group AG now owns 60,378 shares of the basic materials company's stock worth $7,506,000 after acquiring an additional 9,576 shares during the period. King Luther Capital Management Corp increased its holdings in Materion by 95.1% during the 4th quarter. King Luther Capital Management Corp now owns 74,075 shares of the basic materials company's stock worth $9,209,000 after purchasing an additional 36,112 shares during the period. First Eagle Investment Management LLC raised its position in Materion by 136.7% during the 4th quarter. First Eagle Investment Management LLC now owns 58,000 shares of the basic materials company's stock valued at $7,211,000 after purchasing an additional 33,500 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Materion by 21.5% in the 1st quarter. Principal Financial Group Inc. now owns 120,164 shares of the basic materials company's stock worth $17,382,000 after buying an additional 21,295 shares during the period. Finally, Royce & Associates LP lifted its holdings in shares of Materion by 11.2% in the 4th quarter. Royce & Associates LP now owns 108,440 shares of the basic materials company's stock worth $13,481,000 after buying an additional 10,940 shares during the period. 93.56% of the stock is owned by hedge funds and other institutional investors.

Materion Price Performance

Shares of NYSE MTRN opened at $225.96 on Wednesday. Materion Corporation has a 52 week low of $104.63 and a 52 week high of $298.87. The business's 50 day moving average price is $246.56 and its 200 day moving average price is $192.00. The company has a quick ratio of 1.32, a current ratio of 3.04 and a debt-to-equity ratio of 0.50. The firm has a market cap of $4.70 billion, a P/E ratio of 61.74 and a beta of 1.07.

Materion Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Thursday, August 20th will be paid a dividend of $0.145 per share. This represents a $0.58 annualized dividend and a yield of 0.3%. The ex-dividend date is Thursday, August 20th. Materion's payout ratio is presently 15.85%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on MTRN shares. KeyCorp upped their price objective on shares of Materion from $223.00 to $237.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 2nd. Weiss Ratings upgraded shares of Materion from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, July 23rd. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Materion presently has an average rating of "Moderate Buy" and a consensus target price of $237.00.

Materion Profile

Materion Corporation NYSE: MTRN is a global supplier of advanced materials and precision-engineered solutions. The company develops and manufactures high-performance alloys, engineered clad and composite materials, precision thin film products, and advanced optical and electronic materials. Materion's offerings address critical performance requirements for industries where material properties such as strength, wear resistance, conductivity and optical clarity are paramount.

Materion's core businesses include beryllium and beryllium composites for aerospace and defense platforms, nickel- and copper-based specialty alloys for industrial and medical applications, optical coatings and substrates for scientific instrumentation, and electronic materials used in semiconductor production.

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