Wesbanco Bank Inc. grew its position in Materion Co. (NYSE:MTRN - Free Report) by 105.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,200 shares of the basic materials company's stock after purchasing an additional 4,200 shares during the period. Wesbanco Bank Inc.'s holdings in Materion were worth $669,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Materion by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 2,523,141 shares of the basic materials company's stock valued at $249,488,000 after purchasing an additional 25,888 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of Materion by 16.3% in the fourth 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 last quarter. Trigran Investments Inc. increased its holdings in Materion by 3.2% during the fourth quarter. Trigran Investments Inc. now owns 737,830 shares of the basic materials company's stock worth $72,957,000 after buying an additional 23,208 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its position in Materion by 6.8% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 473,606 shares of the basic materials company's stock worth $46,830,000 after acquiring an additional 30,262 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Materion by 4.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 264,197 shares of the basic materials company's stock worth $26,124,000 after acquiring an additional 11,212 shares during the period. Hedge funds and other institutional investors own 93.56% of the company's stock.
Materion Price Performance
MTRN stock traded down $2.50 during midday trading on Friday, reaching $78.24. The company had a trading volume of 117,148 shares, compared to its average volume of 108,148. The company has a market capitalization of $1.63 billion, a P/E ratio of 269.79 and a beta of 0.81. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.19 and a quick ratio of 1.26. Materion Co. has a 1 year low of $69.10 and a 1 year high of $123.21. The firm has a 50-day moving average price of $78.96 and a 200-day moving average price of $90.70.
Materion (NYSE:MTRN - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The basic materials company reported $1.13 earnings per share for the quarter, topping analysts' consensus estimates of $1.12 by $0.01. The firm had revenue of $420.33 million during the quarter, compared to analyst estimates of $396.83 million. Materion had a net margin of 0.35% and a return on equity of 12.42%. The business's quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.96 EPS. On average, research analysts anticipate that Materion Co. will post 5.5 earnings per share for the current fiscal year.
Materion Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 29th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.72%. This is a positive change from Materion's previous quarterly dividend of $0.14. The ex-dividend date is Thursday, May 29th. Materion's payout ratio is presently 112.00%.
Insider Transactions at Materion
In related news, VP Gregory R. Chemnitz sold 2,000 shares of the company'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 completion of the sale, the vice president now directly owns 13,376 shares in the company, valued at $1,076,099.20. This represents a 13.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 2.60% of the company's stock.
Analyst Ratings Changes
Separately, KeyCorp reaffirmed a "sector weight" rating on shares of Materion in a research report on Wednesday, May 7th.
Check Out Our Latest Research Report on Materion
Materion 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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