Synovus Financial Corp Acquires 2,746 Shares of Materion Corporation $MTRN

Key Points

• Synovus Financial Corp increased its stake in Materion Corporation by 35.9% during the first quarter, owning 10,391 shares valued at $848,000.
• Several institutional investors have also boosted their stakes in Materion, with First Trust Advisors LP increasing its holdings by 209.6% during the fourth quarter.
• Materion reported $1.37 earnings per share for the last quarter, exceeding estimates, and is projected to post 5.5 EPS for the current fiscal year.

Synovus Financial Corp lifted its holdings in Materion Corporation (NYSE:MTRN - Free Report) by 35.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,391 shares of the basic materials company's stock after purchasing an additional 2,746 shares during the period. Synovus Financial Corp's holdings in Materion were worth $848,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of MTRN. GAMMA Investing LLC lifted its stake in shares of Materion by 66,993.5% in the 1st quarter. GAMMA Investing LLC now owns 175,114 shares of the basic materials company's stock valued at $14,289,000 after purchasing an additional 174,853 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Materion in the 1st quarter valued at $9,707,000. Trigran Investments Inc. lifted its stake in shares of Materion by 7.7% in the 1st quarter. Trigran Investments Inc. now owns 794,765 shares of the basic materials company's stock valued at $64,853,000 after purchasing an additional 56,935 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted 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, Millennium Management LLC lifted its stake in shares of Materion by 290.6% in the 4th quarter. Millennium Management LLC now owns 57,907 shares of the basic materials company's stock valued at $5,726,000 after purchasing an additional 43,083 shares during the last quarter. Institutional investors and hedge funds own 93.56% of the company's stock.

Insider Activity

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

Wall Street Analyst Weigh In

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

Materion Price Performance

Materion stock traded down $0.47 during trading hours on Monday, hitting $110.47. 137,998 shares of the stock were exchanged, compared to its average volume of 167,979. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.25 and a current ratio of 3.17. The stock has a market capitalization of $2.29 billion, a P/E ratio of 138.09 and a beta of 0.91. Materion Corporation has a 12 month low of $69.10 and a 12 month high of $123.21. The business's 50-day moving average is $97.17 and its two-hundred day moving average is $87.51.

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

Materion Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 22nd will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, August 22nd. Materion's dividend payout ratio is 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.