Jane Street Group LLC Decreases Holdings in Materion Co. (NYSE:MTRN)

Jane Street Group LLC decreased its holdings in shares of Materion Co. (NYSE:MTRN - Free Report) by 33.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,379 shares of the basic materials company's stock after selling 12,507 shares during the quarter. Jane Street Group LLC owned about 0.12% of Materion worth $2,411,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MTRN. Capital Research Global Investors grew its stake 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 buying an additional 257,637 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Materion in the fourth quarter valued at $10,399,000. Norges Bank acquired a new stake in shares of Materion in the fourth quarter valued at $5,037,000. JPMorgan Chase & Co. grew its stake in shares of Materion by 69.1% in the fourth quarter. JPMorgan Chase & Co. now owns 103,799 shares of the basic materials company's stock valued at $10,264,000 after buying an additional 42,414 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of 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 valued at $46,830,000 after buying an additional 30,262 shares in the last quarter. Institutional investors and hedge funds own 93.56% of the company's stock.

Analysts Set New Price Targets

Separately, KeyCorp reaffirmed a "sector weight" rating on shares of Materion in a research note on Wednesday, May 7th.

Materion Stock Down 0.8%

MTRN traded down $0.62 on Wednesday, hitting $79.76. 7,436 shares of the company were exchanged, compared to its average volume of 106,061. Materion Co. has a twelve month low of $69.10 and a twelve month high of $123.21. The company has a market cap of $1.66 billion, a price-to-earnings ratio of 275.03 and a beta of 0.85. The company has a current ratio of 3.19, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48. The firm has a 50-day moving average price of $80.44 and a two-hundred day moving average price of $95.13.

Materion (NYSE:MTRN - Get Free Report) last released its earnings results on Thursday, May 1st. The basic materials company reported $1.13 EPS for the quarter, topping the consensus estimate of $1.12 by $0.01. Materion had a return on equity of 12.42% and a net margin of 0.35%. The firm had revenue of $420.33 million during the quarter, compared to analysts' expectations of $396.83 million. During the same period in the previous year, the firm posted $0.96 EPS. Materion's revenue for the quarter was up 9.1% on a year-over-year basis. On average, equities analysts predict that Materion Co. will post 5.5 earnings per share for the current year.

Materion Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 29th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.70%. This is a boost 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 Buying and Selling

In other Materion news, VP Gregory R. Chemnitz sold 2,000 shares of Materion stock in a transaction dated Monday, May 5th. The stock was 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 of the company's stock, valued at $1,076,099.20. The trade was a 13.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.60% of the stock is currently owned by insiders.

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.