Materion Corporation $MTRN Stock Acquired by Aberdeen Group plc

Key Points

• Aberdeen Group increased its Materion stake by 499.8% in the third quarter, adding 418,102 shares to hold 501,749 shares, worth about $135.3 million. Institutional investors own 93.56% of the company.
• Analyst views are mixed: Materion has a “Moderate Buy” consensus and a $273 average price target, while recent actions included price-target cuts and rating downgrades as well as an upgrade to Buy.
• Materion reported quarterly EPS of $1.93, beating the $1.89 consensus, and revenue grew 27.5% year over year. The company also declared a quarterly dividend of $0.145 per share.

Aberdeen Group plc raised its stake in shares of Materion Corporation (NYSE:MTRN - Free Report) by 499.8% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 501,749 shares of the basic materials company's stock after purchasing an additional 418,102 shares during the period. Aberdeen Group plc owned approximately 2.41% of Materion worth $135,267,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Harbor Investment Advisory LLC purchased a new stake in shares of Materion in the second quarter worth approximately $32,000. Polaris Financial Partners purchased a new position in shares of Materion during the third quarter valued at approximately $36,000. Root Financial Partners LLC purchased a new position in shares of Materion during the third quarter valued at approximately $38,000. Allworth Financial LP bought a new stake in Materion during the second quarter worth $52,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Materion by 22.3% during the first quarter. EverSource Wealth Advisors LLC now owns 395 shares of the basic materials company's stock worth $57,000 after buying an additional 72 shares in the last quarter. 93.56% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MTRN. KeyCorp lowered their price target on Materion from $306.00 to $232.00 and set an "overweight" rating for the company in a research report on Thursday, November 5th. Weiss Ratings downgraded shares of Materion from a "buy (b-)" rating to a "hold (c)" rating in a report on Thursday, October 29th. Jefferies Financial Group assumed coverage on shares of Materion in a report on Wednesday, September 2nd. They set a "buy" rating and a $314.00 price objective on the stock. Zacks Research lowered shares of Materion from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 5th. Finally, Seaport Research Partners upgraded shares of Materion from a "neutral" rating to a "buy" rating and set a $250.00 target price for the company in a research note on Thursday, November 5th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $273.00.

Insiders Place Their Bets

In related news, Director Emily Liggett sold 1,012 shares of Materion stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $232.42, for a total transaction of $235,209.04. Following the sale, the director directly owned 3,161 shares in the company, valued at approximately $734,679.62. This trade represents a 24.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Vinod Khilnani sold 2,000 shares of the business's stock in a transaction on Monday, August 31st. The stock was sold at an average price of $235.16, for a total value of $470,320.00. Following the completion of the transaction, the director directly owned 11,171 shares in the company, valued at approximately $2,626,972.36. This represents a 15.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 2.80% of the company's stock.

Materion Trading Down 2.1%

NYSE:MTRN opened at $203.75 on Friday. Materion Corporation has a 52 week low of $110.69 and a 52 week high of $324.98. The firm has a 50-day moving average price of $246.20 and a two-hundred day moving average price of $214.44. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.22 and a current ratio of 2.81. The firm has a market cap of $4.25 billion, a price-to-earnings ratio of 41.75 and a beta of 1.10.

Materion (NYSE:MTRN - Get Free Report) last announced its earnings results on Wednesday, November 4th. The basic materials company reported $1.93 earnings per share for the quarter, topping analysts' consensus estimates of $1.89 by $0.04. The firm had revenue of $313.66 million for the quarter, compared to the consensus estimate of $611.38 million. Materion had a return on equity of 14.23% and a net margin of 4.64%. The company's revenue was up 27.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.41 EPS. On average, equities analysts expect that Materion Corporation will post 7.27 earnings per share for the current fiscal year.

Materion Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Thursday, November 19th will be issued a dividend of $0.1450 per share. This represents a $0.58 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Thursday, November 19th. Materion's dividend payout ratio (DPR) is 11.89%.

Materion Profile

Materion Corporation is a specialty materials company that develops and manufactures advanced engineered materials and related services. Its products include beryllium and beryllium alloys, other engineered metals, and materials used in thin-film deposition and other high-performance applications. The company's materials serve customers in markets such as semiconductors, aerospace and defense, telecommunications, automotive, consumer electronics, and industrial manufacturing. Materion also provides services including materials processing, recycling, and technical support.

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