Northern Trust Corp Boosts Holdings in Materion Corporation $MTRN

Key Points

• Northern Trust Corp increased its stake in Materion Corporation by 2.3%, owning 288,611 shares valued at approximately $23.55 million as of the latest SEC filing.
• Several institutional investors have also significantly increased their holdings in Materion, with 93.56% of the stock now owned by such entities.
• Analysts have upgraded Materion's rating from "hold" to "buy," with a consensus target price increased to $117.00.

Northern Trust Corp grew its position in Materion Corporation (NYSE:MTRN - Free Report) by 2.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 288,611 shares of the basic materials company's stock after buying an additional 6,598 shares during the quarter. Northern Trust Corp owned approximately 1.39% of Materion worth $23,551,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MTRN. GAMMA Investing LLC raised its stake 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 worth $175,000 after purchasing an additional 1,885 shares in the last quarter. MQS Management LLC acquired a new stake in Materion in the first quarter valued at approximately $212,000. New Age Alpha Advisors LLC purchased a new position in shares of Materion during the first quarter valued at approximately $244,000. Teacher Retirement System of Texas bought a new position in shares of Materion during the 1st quarter worth $248,000. Finally, Algert Global LLC bought a new stake in shares of Materion during the 1st quarter valued at $273,000. Institutional investors own 93.56% of the company's stock.

Insider Activity

In other Materion news, VP Gregory R. Chemnitz sold 3,000 shares of the company's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $105.17, for a total transaction of $315,510.00. Following the completion of the transaction, the vice president owned 10,376 shares of the company's stock, valued at $1,091,243.92. This represents a 22.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Melissa A. Fashinpaur sold 1,140 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $105.34, for a total value of $120,087.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,295 shares of company stock valued at $557,392. Insiders own 2.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MTRN. Wall Street Zen raised Materion from a "hold" rating to a "buy" rating in a research report on Friday, August 22nd. KeyCorp boosted their price objective on Materion from $115.00 to $117.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 13th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, Materion currently has a consensus rating of "Buy" and an average price target of $117.00.

Materion Trading Down 0.3%

Shares of MTRN stock traded down $0.34 on Friday, reaching $110.62. 20,956 shares of the stock were exchanged, compared to its average volume of 149,070. The company has a quick ratio of 1.25, a current ratio of 3.17 and a debt-to-equity ratio of 0.46. Materion Corporation has a 1-year low of $69.10 and a 1-year high of $123.21. The firm has a 50 day moving average of $99.62 and a two-hundred day moving average of $88.00. The stock has a market cap of $2.29 billion, a P/E ratio of 138.26 and a beta of 0.91.

Materion (NYSE:MTRN - Get Free Report) last announced its earnings results on Wednesday, July 30th. The basic materials company reported $1.37 EPS for the quarter, topping 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 firm had revenue of $431.66 million for the quarter, compared to analysts' expectations of $403.73 million. During the same quarter in the previous year, the company earned $1.42 earnings per share. The firm's quarterly revenue was up 1.4% compared to the same quarter last year. Materion has set its FY 2025 guidance at 5.300-5.700 EPS. On average, research analysts anticipate that Materion Corporation will post 5.5 EPS for the current year.

Materion Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 22nd will be given a dividend of $0.14 per share. 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

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.