Dover Advisors LLC Invests $209,000 in Materion Corporation $MTRN

Key Points

• Dover Advisors LLC has made a new investment of approximately $209,000 in Materion Corporation, acquiring 2,638 shares during the 2nd quarter.
• Materion's stock received several upgrades from analysts, with KeyCorp raising its price target to $117.00 and a consensus rating of "Buy".
• The company recently reported earnings of $1.37 EPS for the quarter, surpassing analyst expectations and achieving a revenue increase of 1.4% year-over-year.

Dover Advisors LLC purchased a new position in Materion Corporation (NYSE:MTRN - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,638 shares of the basic materials company's stock, valued at approximately $209,000.

Several other institutional investors have also modified their holdings of MTRN. Inspire Investing LLC boosted its position in shares of Materion by 4.0% in the 1st quarter. Inspire Investing LLC now owns 4,209 shares of the basic materials company's stock worth $343,000 after buying an additional 160 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Materion by 0.9% in the 1st quarter. Nisa Investment Advisors LLC now owns 23,312 shares of the basic materials company's stock worth $1,902,000 after buying an additional 218 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Materion by 3.2% in the 1st quarter. Victory Capital Management Inc. now owns 8,124 shares of the basic materials company's stock worth $663,000 after buying an additional 250 shares in the last quarter. Snowden Capital Advisors LLC boosted its position in shares of Materion by 6.0% in the 4th quarter. Snowden Capital Advisors LLC now owns 4,613 shares of the basic materials company's stock worth $456,000 after buying an additional 263 shares in the last quarter. Finally, Avantax Advisory Services Inc. lifted its holdings in Materion by 7.8% in the 1st quarter. Avantax Advisory Services Inc. now owns 3,735 shares of the basic materials company's stock valued at $305,000 after purchasing an additional 271 shares in the last quarter. Hedge funds and other institutional investors own 93.56% of the company's stock.

Insiders Place Their Bets

In other Materion news, VP Gregory R. Chemnitz sold 3,000 shares of the stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $105.17, for a total value of $315,510.00. Following the completion of the sale, the vice president directly owned 10,376 shares in the company, valued at $1,091,243.92. This represents a 22.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director N Mohan Reddy sold 1,155 shares of the stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $105.45, for a total value of $121,794.75. The disclosure for this sale can be found here. Insiders sold 5,295 shares of company stock worth $557,392 over the last ninety days. 2.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on MTRN shares. KeyCorp upped their target price 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 upgraded shares of Materion from a "hold" rating to a "buy" rating in a report on Friday, August 22nd. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, Materion presently has an average rating of "Buy" and a consensus price target of $117.00.

Materion Stock Down 1.1%

NYSE MTRN traded down $1.37 during trading on Friday, reaching $120.75. 102,404 shares of the company's stock were exchanged, compared to its average volume of 149,918. The firm has a market capitalization of $2.50 billion, a PE ratio of 151.19 and a beta of 0.91. The company has a current ratio of 3.17, a quick ratio of 1.25 and a debt-to-equity ratio of 0.46. Materion Corporation has a fifty-two week low of $69.10 and a fifty-two week high of $123.21. The company's fifty day simple moving average is $105.70 and its 200-day simple moving average is $89.34.

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

Materion Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 22nd were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Friday, August 22nd. Materion's dividend payout ratio is currently 70.00%.

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.