Materion Corporation (NYSE:MTRN) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System reduced its stake in Materion Corporation (NYSE:MTRN - Free Report) by 12.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 24,394 shares of the basic materials company's stock after selling 3,600 shares during the quarter. New York State Teachers Retirement System owned 0.12% of Materion worth $1,991,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Smartleaf Asset Management LLC lifted its holdings in Materion by 269.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 436 shares of the basic materials company's stock worth $43,000 after buying an additional 318 shares in the last quarter. US Bancorp DE raised its holdings in shares of Materion by 30.3% in the 4th quarter. US Bancorp DE now owns 1,347 shares of the basic materials company's stock valued at $133,000 after purchasing an additional 313 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Materion by 722.2% in the 1st quarter. GAMMA Investing LLC now owns 2,146 shares of the basic materials company's stock valued at $175,000 after purchasing an additional 1,885 shares in the last quarter. Summit Investment Advisors Inc. raised its holdings in shares of Materion by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,154 shares of the basic materials company's stock valued at $213,000 after purchasing an additional 137 shares in the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in shares of Materion in the 4th quarter valued at $223,000. 93.56% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Materion

In other Materion news, VP Gregory R. Chemnitz sold 2,000 shares of the firm's stock in a transaction on 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 directly owned 13,376 shares of the company's stock, valued at approximately $1,076,099.20. This trade represents a 13.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 2.60% of the company's stock.

Materion Stock Down 0.8%

Shares of NYSE MTRN traded down $0.72 during mid-day trading on Friday, reaching $86.28. The company had a trading volume of 130,499 shares, compared to its average volume of 114,952. The company has a current ratio of 2.84, a quick ratio of 1.20 and a debt-to-equity ratio of 0.46. The firm has a 50 day simple moving average of $79.55 and a two-hundred day simple moving average of $86.69. The stock has a market cap of $1.80 billion, a P/E ratio of 172.55 and a beta of 0.80. Materion Corporation has a 52-week low of $69.10 and a 52-week high of $123.21.

Materion (NYSE:MTRN - Get Free Report) last posted its earnings results on Thursday, May 1st. The basic materials company reported $1.13 EPS for the quarter, beating analysts' consensus estimates of $1.12 by $0.01. The firm had revenue of $420.33 million for the quarter, compared to the consensus estimate of $396.83 million. Materion had a net margin of 0.59% and a return on equity of 12.83%. The company's revenue was up 9.1% on a year-over-year basis. During the same period last year, the firm posted $0.96 EPS. Sell-side analysts predict that Materion Corporation will post 5.5 earnings per share for the current year.

Materion Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Thursday, May 29th were given a dividend of $0.14 per share. This is an increase from Materion's previous quarterly dividend of $0.14. This represents a $0.56 annualized dividend and a yield of 0.65%. The ex-dividend date was Thursday, May 29th. Materion's dividend payout ratio (DPR) is presently 112.00%.

Analyst Upgrades and Downgrades

MTRN has been the topic of a number of analyst reports. KeyCorp restated a "sector weight" rating on shares of Materion in a report on Wednesday, May 7th. Wall Street Zen upgraded shares of Materion from a "hold" rating to a "buy" rating in a report on Saturday, July 5th.

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.