Materion Corporation (NYSE:MTRN) VP Gregory R. Chemnitz Sells 3,000 Shares

Key Points

• Gregory R. Chemnitz, VP of Materion Corporation, sold 3,000 shares of stock for a total of $315,510, decreasing his ownership by 22.43%.
• Materion recently reported earnings of $1.37 EPS, exceeding analyst expectations, with quarterly revenue of $431.66 million, up 1.4% year-over-year.
• Institutional investors hold 93.56% of Materion's stock, with First Horizon Advisors increasing its stake by 25.3% in the latest quarter.

Materion Corporation (NYSE:MTRN - Get Free Report) VP Gregory R. Chemnitz sold 3,000 shares of the company's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $105.17, for a total transaction of $315,510.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Materion Trading Down 2.4%

Shares of MTRN traded down $2.64 during trading hours on Friday, reaching $106.51. 242,739 shares of the company traded hands, compared to its average volume of 281,763. The company's fifty day moving average price is $87.55 and its two-hundred day moving average price is $86.42. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of 133.13 and a beta of 0.85. 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 12 month low of $69.10 and a 12 month high of $123.21.

Materion (NYSE:MTRN - Get Free Report) last released its earnings results on Wednesday, July 30th. The basic materials company reported $1.37 earnings per share for the quarter, topping analysts' consensus estimates of $1.18 by $0.19. The firm had revenue of $431.66 million for the quarter, compared to the consensus estimate of $403.73 million. Materion had a net margin of 0.94% and a return on equity of 12.69%. The company's revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.42 EPS. Equities research analysts predict that Materion Corporation will post 5.5 earnings per share for the current fiscal year.

Materion Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 22nd will be paid a dividend of $0.14 per share. The ex-dividend date is Friday, August 22nd. This represents a $0.56 annualized dividend and a yield of 0.5%. Materion's dividend payout ratio is currently 70.00%.

Hedge Funds Weigh In On Materion

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jones Financial Companies Lllp bought a new position in Materion during the 1st quarter valued at about $34,000. First Horizon Advisors Inc. lifted its stake in shares of Materion by 25.3% in the 2nd quarter. First Horizon Advisors Inc. now owns 585 shares of the basic materials company's stock worth $46,000 after purchasing an additional 118 shares during the period. CWM LLC lifted its stake in shares of Materion by 387.0% in the 2nd quarter. CWM LLC now owns 1,232 shares of the basic materials company's stock worth $98,000 after purchasing an additional 979 shares during the period. GAMMA Investing LLC raised its stake in 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 acquiring an additional 1,885 shares during the period. Finally, AQR Capital Management LLC bought a new stake in Materion during the 1st quarter worth approximately $201,000. Institutional investors own 93.56% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Materion from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. KeyCorp raised shares of Materion from a "sector weight" rating to an "overweight" rating and set a $112.00 target price on the stock in a research note on Friday, July 18th.

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.