Millennium Management LLC Buys 43,083 Shares of Materion Co. (NYSE:MTRN)

Millennium Management LLC boosted its holdings in Materion Co. (NYSE:MTRN - Free Report) by 290.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 57,907 shares of the basic materials company's stock after buying an additional 43,083 shares during the period. Millennium Management LLC owned 0.28% of Materion worth $5,726,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of MTRN. Vanguard Group Inc. grew its position in shares of Materion by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 2,523,141 shares of the basic materials company's stock worth $249,488,000 after purchasing an additional 25,888 shares in the last quarter. Capital Research Global Investors grew its holdings in Materion by 16.3% during the 4th quarter. Capital Research Global Investors now owns 1,838,484 shares of the basic materials company's stock valued at $181,789,000 after buying an additional 257,637 shares in the last quarter. Trigran Investments Inc. raised its position in shares of Materion by 3.2% during the fourth quarter. Trigran Investments Inc. now owns 737,830 shares of the basic materials company's stock valued at $72,957,000 after buying an additional 23,208 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Materion by 3.7% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 625,767 shares of the basic materials company's stock worth $61,876,000 after buying an additional 22,322 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its stake in Materion by 6.8% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 473,606 shares of the basic materials company's stock valued at $46,830,000 after acquiring an additional 30,262 shares in the last quarter. 93.56% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Insider Transactions at Materion

In related news, VP Gregory R. Chemnitz sold 2,000 shares of the company's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $80.45, for a total transaction of $160,900.00. Following the transaction, the vice president now directly owns 13,376 shares in the company, valued at approximately $1,076,099.20. This represents a 13.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.60% of the company's stock.

Materion Price Performance

Shares of MTRN stock traded down $0.66 on Friday, reaching $77.52. The company's stock had a trading volume of 154,488 shares, compared to its average volume of 107,373. The stock's fifty day simple moving average is $79.16 and its 200-day simple moving average is $93.45. Materion Co. has a 1 year low of $69.10 and a 1 year high of $123.21. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of 267.31 and a beta of 0.85. The company has a current ratio of 3.19, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48.

Materion (NYSE:MTRN - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The basic materials company reported $1.13 EPS for the quarter, topping 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 net margin of 0.35% and a return on equity of 12.42%. The business's revenue was up 9.1% on a year-over-year basis. During the same period last year, the company posted $0.96 EPS. Analysts forecast that Materion Co. will post 5.5 earnings per share for the current fiscal year.

Materion Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 29th will be issued a $0.14 dividend. This is a boost from Materion's previous quarterly dividend of $0.14. The ex-dividend date is Thursday, May 29th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.72%. Materion's payout ratio is 112.00%.

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.