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New Age Alpha Advisors LLC Purchases Shares of 2,990 Materion Corporation (NYSE:MTRN)

Materion logo with Basic Materials background

Key Points

  • New Age Alpha Advisors LLC has acquired 2,990 shares of Materion Corporation, valued at approximately $244,000, in the first quarter of 2023.
  • Materion Corporation reported an earnings per share of $1.37, outperforming the consensus estimate of $1.18, alongside a revenue of $431.66 million for the quarter.
  • The company has declared a quarterly dividend of $0.14 per share, which will be paid on September 5th, representing a yield of 0.5% and a payout ratio of 70%.
  • Looking to export and analyze Materion data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

New Age Alpha Advisors LLC bought a new stake in shares of Materion Corporation (NYSE:MTRN - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,990 shares of the basic materials company's stock, valued at approximately $244,000.

Several other hedge funds have also modified their holdings of MTRN. Capital Research Global Investors increased its holdings in shares of Materion by 16.3% in 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 purchasing an additional 257,637 shares during the period. GAMMA Investing LLC increased its holdings 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 period. Vaughan Nelson Investment Management L.P. increased its holdings in Materion by 7.5% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 673,007 shares of the basic materials company's stock worth $54,917,000 after buying an additional 47,240 shares during the last quarter. Millennium Management LLC increased 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 buying an additional 43,083 shares during the last quarter. Finally, JPMorgan Chase & Co. increased 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 buying an additional 42,414 shares during the last quarter. 93.56% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on MTRN. Wall Street Zen downgraded Materion from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. KeyCorp reaffirmed an "overweight" rating and set a $117.00 target price (up previously from $115.00) on shares of Materion in a research report on Wednesday.

View Our Latest Stock Analysis on MTRN

Insider Activity at Materion

In related news, CAO Melissa A. Fashinpaur sold 1,140 shares of the company's 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director N Mohan Reddy sold 1,155 shares of the company's 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. Over the last ninety days, insiders sold 5,295 shares of company stock worth $557,392. 2.60% of the stock is owned by corporate insiders.

Materion Stock Performance

Shares of MTRN traded down $0.19 during mid-day trading on Thursday, hitting $112.23. The company's stock had a trading volume of 126,143 shares, compared to its average volume of 152,051. Materion Corporation has a one year low of $69.10 and a one year high of $123.21. 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 firm has a market capitalization of $2.33 billion, a PE ratio of 140.38 and a beta of 0.85. The stock's 50-day moving average is $89.47 and its two-hundred day moving average is $86.78.

Materion (NYSE:MTRN - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The basic materials company reported $1.37 earnings per share 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 company had revenue of $431.66 million during the quarter, compared to analysts' expectations of $403.73 million. During the same period in the prior year, the business earned $1.42 earnings per share. Materion's revenue for the quarter was up 1.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Materion Corporation will post 5.5 EPS for the current year.

Materion Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 22nd will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Friday, August 22nd. Materion's dividend payout ratio is presently 70.00%.

Materion Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Materion (NYSE:MTRN)

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