Bank of New York Mellon Corp Reduces Stock Position in Materion Corporation (NYSE:MTRN)

Bank of New York Mellon Corp lessened its holdings in shares of Materion Corporation (NYSE:MTRN - Free Report) by 33.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 203,542 shares of the basic materials company's stock after selling 103,050 shares during the period. Bank of New York Mellon Corp owned 0.98% of Materion worth $16,609,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in MTRN. Vanguard Group Inc. grew its stake in shares of Materion by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 2,523,141 shares of the basic materials company's stock valued at $249,488,000 after purchasing an additional 25,888 shares during the last quarter. Capital Research Global Investors grew its stake in shares of Materion by 16.3% in the 4th quarter. Capital Research Global Investors now owns 1,838,484 shares of the basic materials company's stock valued at $181,789,000 after purchasing an additional 257,637 shares during the last quarter. Trigran Investments Inc. grew its stake in shares of Materion by 3.2% in the 4th quarter. Trigran Investments Inc. now owns 737,830 shares of the basic materials company's stock valued at $72,957,000 after purchasing an additional 23,208 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in shares of Materion by 7.5% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 673,007 shares of the basic materials company's stock valued at $54,917,000 after purchasing an additional 47,240 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of Materion by 6.8% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 473,606 shares of the basic materials company's stock valued at $46,830,000 after purchasing an additional 30,262 shares during the last quarter. Hedge funds and other institutional investors own 93.56% of the company's stock.

Insider Activity

In other news, VP Gregory R. Chemnitz sold 2,000 shares of Materion stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $80.45, for a total transaction of $160,900.00. Following the completion of the transaction, the vice president directly owned 13,376 shares in the company, valued at $1,076,099.20. This trade represents a 13.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

MTRN has been the subject of a number of analyst reports. KeyCorp raised Materion from a "sector weight" rating to an "overweight" rating and set a $112.00 price target for the company in a report on Friday. Wall Street Zen upgraded Materion from a "hold" rating to a "buy" rating in a research report on Saturday, July 5th.

Materion Trading Up 6.3%

MTRN traded up $5.61 during trading on Friday, reaching $94.24. 390,753 shares of the company's stock were exchanged, compared to its average volume of 117,041. The company's fifty day moving average price is $80.70 and its 200-day moving average price is $86.27. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.20 and a current ratio of 2.84. Materion Corporation has a fifty-two week low of $69.10 and a fifty-two week high of $123.21. The firm has a market capitalization of $1.96 billion, a PE ratio of 188.48 and a beta of 0.80.

Materion (NYSE:MTRN - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The basic materials company reported $1.13 EPS for the quarter, topping the consensus estimate of $1.12 by $0.01. The firm had revenue of $420.33 million for the quarter, compared to analysts' expectations of $396.83 million. Materion had a net margin of 0.59% and a return on equity of 12.83%. The company's revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.96 EPS. As a group, equities analysts forecast that Materion Corporation will post 5.5 EPS for the current year.

Materion Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Thursday, May 29th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.59%. This is a boost from Materion's previous quarterly dividend of $0.14. The ex-dividend date was Thursday, May 29th. Materion's dividend payout ratio (DPR) is presently 112.00%.

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.