New York State Teachers Retirement System Lowers Stock Position in Materion Corporation (NYSE:MTRN)

New York State Teachers Retirement System reduced its stake in shares of Materion Corporation (NYSE:MTRN - Free Report) by 12.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,394 shares of the basic materials company's stock after selling 3,600 shares during the period. New York State Teachers Retirement System owned 0.12% of Materion worth $1,991,000 at the end of the most recent reporting period.

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

Materion Stock Up 4.6%

Shares of MTRN opened at $84.43 on Wednesday. The business's 50 day moving average is $79.38 and its 200 day moving average is $87.00. The company has a market capitalization of $1.76 billion, a PE ratio of 168.86 and a beta of 0.80. Materion Corporation has a 12-month low of $69.10 and a 12-month high of $123.21. The company has a current ratio of 2.84, a quick ratio of 1.20 and a debt-to-equity ratio of 0.46.

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

Materion Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 29th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.66%. The ex-dividend date was Thursday, May 29th. This is an increase from Materion's previous quarterly dividend of $0.14. Materion's dividend payout ratio (DPR) is 112.00%.

Insider Transactions at Materion

In other Materion news, VP Gregory R. Chemnitz sold 2,000 shares of Materion stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $80.45, for a total value of $160,900.00. Following the sale, the vice president owned 13,376 shares of the company's stock, valued at $1,076,099.20. The trade was a 13.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on MTRN shares. KeyCorp reaffirmed a "sector weight" rating on shares of Materion in a research report on Wednesday, May 7th. Wall Street Zen raised Materion from a "hold" rating to a "buy" rating in a research report on Saturday.

Materion Company 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.

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