GAMMA Investing LLC Boosts Stock Position in Materion Co. (NYSE:MTRN)

GAMMA Investing LLC raised its stake in Materion Co. (NYSE:MTRN - Free Report) by 66,993.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 175,114 shares of the basic materials company's stock after purchasing an additional 174,853 shares during the period. GAMMA Investing LLC owned 0.84% of Materion worth $14,289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Capital Research Global Investors boosted its holdings in Materion by 16.3% in the fourth quarter. Capital Research Global Investors now owns 1,838,484 shares of the basic materials company's stock worth $181,789,000 after acquiring an additional 257,637 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Materion in the fourth quarter worth about $10,399,000. Norges Bank acquired a new stake in Materion in the fourth quarter worth about $5,037,000. Millennium Management LLC boosted its holdings in Materion by 290.6% in the fourth quarter. Millennium Management LLC now owns 57,907 shares of the basic materials company's stock worth $5,726,000 after acquiring an additional 43,083 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Materion by 69.1% in the fourth quarter. JPMorgan Chase & Co. now owns 103,799 shares of the basic materials company's stock worth $10,264,000 after acquiring an additional 42,414 shares in the last quarter. Hedge funds and other institutional investors own 93.56% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, KeyCorp reissued a "sector weight" rating on shares of Materion in a report on Wednesday, May 7th.

Materion Trading Up 0.2%

Materion stock opened at $79.83 on Friday. Materion Co. has a 52 week low of $69.10 and a 52 week high of $123.21. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 275.27 and a beta of 0.81. The stock has a 50-day moving average price of $78.44 and a 200 day moving average price of $91.89. The company has a quick ratio of 1.26, a current ratio of 3.19 and a debt-to-equity ratio of 0.48.

Materion (NYSE:MTRN - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The basic materials company reported $1.13 EPS for the quarter, beating analysts' consensus estimates of $1.12 by $0.01. The business had revenue of $420.33 million during the quarter, compared to analysts' expectations of $396.83 million. Materion had a return on equity of 12.42% and a net margin of 0.35%. The business's revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.96 earnings per share. Sell-side analysts anticipate that Materion Co. will post 5.5 EPS for the current year.

Materion Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 29th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.70%. This is a boost from Materion's previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Thursday, May 29th. Materion's payout ratio is presently 112.00%.

Insider Buying and Selling

In related news, VP Gregory R. Chemnitz sold 2,000 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $80.45, for a total transaction of $160,900.00. Following the completion of the sale, the vice president now directly owns 13,376 shares in the company, valued at approximately $1,076,099.20. The trade was a 13.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.60% of the stock is owned by company insiders.

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.

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