Cubist Systematic Strategies LLC Invests $1.50 Million in Materion Corporation $MTRN

Key Points

• Cubist Systematic Strategies LLC acquired a new stake in Materion Corporation, purchasing 18,367 shares valued at approximately $1.5 million.
• Several institutional investors, including Deutsche Bank AG and Millennium Management LLC, significantly increased their holdings in Materion during the fourth quarter, indicating strong institutional interest.
• Materion has been upgraded to a "buy" rating by analysts, with a new average price target set at $117.00, reflecting positive market sentiment.

Cubist Systematic Strategies LLC bought a new position in shares of Materion Corporation (NYSE:MTRN - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 18,367 shares of the basic materials company's stock, valued at approximately $1,499,000. Cubist Systematic Strategies LLC owned 0.09% of Materion at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MTRN. Deutsche Bank AG raised its stake in Materion by 46.4% during the 4th quarter. Deutsche Bank AG now owns 18,244 shares of the basic materials company's stock worth $1,804,000 after acquiring an additional 5,784 shares during the period. D. E. Shaw & Co. Inc. grew its holdings in Materion by 28.1% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 27,751 shares of the basic materials company's stock valued at $2,744,000 after buying an additional 6,091 shares in the last quarter. Graham Capital Management L.P. purchased a new stake in Materion during the 4th quarter valued at approximately $300,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Materion by 5.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 204,624 shares of the basic materials company's stock valued at $20,233,000 after buying an additional 11,201 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in Materion by 290.6% during the 4th quarter. Millennium Management LLC now owns 57,907 shares of the basic materials company's stock valued at $5,726,000 after buying an additional 43,083 shares in the last quarter. Institutional investors own 93.56% of the company's stock.

Insiders Place Their Bets

In other Materion news, Director N Mohan Reddy sold 1,155 shares of Materion stock in a transaction on Monday, August 11th. The shares were sold at an average price of $105.45, for a total transaction of $121,794.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Melissa A. Fashinpaur sold 1,140 shares of Materion stock in a transaction on Monday, August 4th. The stock was sold at an average price of $105.34, for a total value of $120,087.60. The disclosure for this sale can be found here. Insiders sold 5,295 shares of company stock valued at $557,392 over the last three months. 2.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. KeyCorp increased their price objective on shares of Materion from $115.00 to $117.00 and gave the company an "overweight" rating in a report on Wednesday, August 13th. Wall Street Zen raised shares of Materion from a "hold" rating to a "buy" rating in a report on Friday, August 22nd. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $117.00.

Materion Price Performance

Shares of MTRN stock traded down $2.47 on Friday, reaching $111.57. The company's stock had a trading volume of 90,727 shares, compared to its average volume of 112,525. The stock's fifty day simple moving average is $103.05 and its 200-day simple moving average is $88.60. Materion Corporation has a 1 year low of $69.10 and a 1 year high of $123.21. The company has a current ratio of 3.17, a quick ratio of 1.25 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of 139.46 and a beta of 0.91.

Materion (NYSE:MTRN - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The basic materials company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.18 by $0.19. The company had revenue of $431.66 million during the quarter, compared to analyst estimates of $403.73 million. Materion had a net margin of 0.94% and a return on equity of 12.69%. Materion's quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.42 earnings per share. Materion has set its FY 2025 guidance at 5.300-5.700 EPS. Analysts forecast that Materion Corporation will post 5.5 earnings per share for the current fiscal year.

Materion Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 22nd were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Friday, August 22nd. Materion's payout ratio is presently 70.00%.

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.