NorthCrest Asset Manangement LLC Has $643,000 Stock Position in Materion Corporation $MTRN

Key Points

• NorthCrest Asset Management LLC reduced its holdings in Materion Corporation by 30.2%, owning 7,517 shares valued at approximately $643,000 after selling 3,250 shares in the second quarter.
• Several institutional investors increased their stakes in Materion, with GAMMA Investing LLC growing its position by 722.2% and new investments from AQR Capital Management and Dover Advisors, indicating heightened interest from institutional funds.
• Materion's recent earnings surpassed expectations, reporting $1.37 earnings per share for the last quarter, which is above the consensus estimate of $1.18, alongside projected FY 2025 guidance between $5.300 - $5.700 EPS.

NorthCrest Asset Manangement LLC trimmed its stake in shares of Materion Corporation (NYSE:MTRN - Free Report) by 30.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,517 shares of the basic materials company's stock after selling 3,250 shares during the period. NorthCrest Asset Manangement LLC's holdings in Materion were worth $643,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of MTRN. Deutsche Bank AG lifted its holdings in shares of Materion by 46.4% during the fourth quarter. Deutsche Bank AG now owns 18,244 shares of the basic materials company's stock valued at $1,804,000 after purchasing an additional 5,784 shares during the last quarter. Millennium Management LLC lifted its stake in Materion by 290.6% in the 4th 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. Squarepoint Ops LLC lifted its stake in Materion by 240.3% in the 4th quarter. Squarepoint Ops LLC now owns 7,120 shares of the basic materials company's stock worth $704,000 after acquiring an additional 5,028 shares in the last quarter. Voloridge Investment Management LLC lifted its stake in Materion by 155.9% in the 4th quarter. Voloridge Investment Management LLC now owns 9,518 shares of the basic materials company's stock worth $941,000 after acquiring an additional 5,798 shares in the last quarter. Finally, First Hawaiian Bank lifted its stake in Materion by 9.6% in the 1st quarter. First Hawaiian Bank now owns 5,414 shares of the basic materials company's stock worth $442,000 after acquiring an additional 472 shares in the last quarter. 93.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MTRN has been the subject of several research analyst reports. KeyCorp increased their price objective on Materion from $115.00 to $117.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 13th. Wall Street Zen raised Materion from a "hold" rating to a "buy" rating in a research note on Friday, August 22nd. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $117.00.

Insider Buying and Selling at Materion

In other news, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $121,794.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,295 shares of company stock worth $557,392. 2.60% of the stock is currently owned by insiders.

Materion Price Performance

MTRN traded down $0.93 during trading on Tuesday, hitting $119.17. The company's stock had a trading volume of 49,473 shares, compared to its average volume of 150,898. The firm's 50 day moving average price is $107.08 and its two-hundred day moving average price is $89.80. The company has a quick ratio of 1.25, a current ratio of 3.17 and a debt-to-equity ratio of 0.46. Materion Corporation has a 12 month low of $69.10 and a 12 month high of $123.21. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of 148.96 and a beta of 0.91.

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 (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $403.73 million. During the same quarter in the previous year, the company posted $1.42 EPS. The business's revenue for the quarter 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 forecast that Materion Corporation will post 5.5 earnings per share for the current fiscal year.

Materion Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 22nd were given a $0.14 dividend. The ex-dividend date was Friday, August 22nd. This represents a $0.56 annualized dividend and a yield of 0.5%. 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.