Northern Trust Corp Sells 37,518 Shares of Materion Co. (NYSE:MTRN)

Northern Trust Corp trimmed its position in shares of Materion Co. (NYSE:MTRN - Free Report) by 11.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 282,013 shares of the basic materials company's stock after selling 37,518 shares during the quarter. Northern Trust Corp owned 1.36% of Materion worth $27,885,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its position in shares of Materion by 38.0% during the third quarter. JPMorgan Chase & Co. now owns 61,385 shares of the basic materials company's stock valued at $6,867,000 after acquiring an additional 16,904 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Materion by 307.8% during the 4th quarter. GAMMA Investing LLC now owns 261 shares of the basic materials company's stock valued at $26,000 after purchasing an additional 197 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Materion during the 4th quarter worth $415,000. Raymond James Financial Inc. bought a new stake in shares of Materion during the 4th quarter worth $10,399,000. Finally, Choreo LLC purchased a new position in shares of Materion in the 4th quarter worth about $315,000. Institutional investors own 93.56% of the company's stock.

Materion Stock Performance

Shares of NYSE:MTRN traded up $0.73 during mid-day trading on Friday, reaching $78.84. The company had a trading volume of 32,131 shares, compared to its average volume of 117,281. Materion Co. has a one year low of $69.10 and a one year high of $123.21. 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 company's 50-day moving average price is $80.67 and its 200-day moving average price is $95.71. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of 271.83 and a beta of 0.85.

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

Materion Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 29th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, May 29th. This is an increase from Materion's previous quarterly dividend of $0.14. This represents a $0.56 annualized dividend and a yield of 0.71%. Materion's dividend payout ratio is 112.00%.

Insiders Place Their Bets

In other Materion news, VP Gregory R. Chemnitz sold 2,000 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $80.45, for a total transaction of $160,900.00. Following the sale, the vice president now owns 13,376 shares in the company, valued at $1,076,099.20. This represents a 13.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 2.60% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, KeyCorp restated a "sector weight" rating on shares of Materion in a report on Wednesday, May 7th.

Materion 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.