Royal Bank of Canada Sells 38,438 Shares of Materion Corporation $MTRN

Key Points

• Royal Bank of Canada reduced its Materion stake by 14.9%, selling 38,438 shares in the first quarter and retaining 219,050 shares valued at approximately $31.7 million. Institutional investors collectively own 93.56% of MTRN.
• Materion shares opened at $215.01, with a market capitalization of $4.47 billion and a one-year trading range of $104.34 to $298.87. Analysts maintain a “Moderate Buy” consensus and a $237 price target.
• Materion declared a quarterly dividend of $0.145 per share, equivalent to $0.58 annually and a 0.3% yield; the dividend is payable September 4 to shareholders of record as of August 20.

Royal Bank of Canada cut its holdings in Materion Corporation (NYSE:MTRN - Free Report) by 14.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 219,050 shares of the basic materials company's stock after selling 38,438 shares during the quarter. Royal Bank of Canada owned approximately 1.05% of Materion worth $31,685,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Maseco LLP bought a new stake in Materion during the 4th quarter worth about $27,000. EverSource Wealth Advisors LLC raised its stake in shares of Materion by 182.9% in the second quarter. EverSource Wealth Advisors LLC now owns 348 shares of the basic materials company's stock worth $28,000 after acquiring an additional 225 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in shares of Materion during the first quarter worth approximately $34,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Materion during the third quarter worth approximately $35,000. Finally, Kestra Advisory Services LLC bought a new stake in shares of Materion during the fourth quarter valued at approximately $40,000. 93.56% of the stock is owned by institutional investors.

Materion Stock Up 2.0%

Shares of NYSE:MTRN opened at $215.01 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.04 and a quick ratio of 1.32. The stock has a market cap of $4.47 billion, a price-to-earnings ratio of 58.75 and a beta of 1.03. The company has a 50 day moving average of $246.51 and a 200-day moving average of $191.45. Materion Corporation has a one year low of $104.34 and a one year high of $298.87.

Materion Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Thursday, August 20th will be given a dividend of $0.145 per share. The ex-dividend date is Thursday, August 20th. This represents a $0.58 annualized dividend and a dividend yield of 0.3%. Materion's payout ratio is presently 15.85%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MTRN. Weiss Ratings raised shares of Materion from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, July 23rd. KeyCorp increased their price objective on Materion from $223.00 to $237.00 and gave the company an "overweight" rating in a research report on Tuesday, June 2nd. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $237.00.

Materion Profile

Materion Corporation NYSE: MTRN is a global supplier of advanced materials and precision-engineered solutions. The company develops and manufactures high-performance alloys, engineered clad and composite materials, precision thin film products, and advanced optical and electronic materials. Materion's offerings address critical performance requirements for industries where material properties such as strength, wear resistance, conductivity and optical clarity are paramount.

Materion's core businesses include beryllium and beryllium composites for aerospace and defense platforms, nickel- and copper-based specialty alloys for industrial and medical applications, optical coatings and substrates for scientific instrumentation, and electronic materials used in semiconductor production.

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