Louisiana State Employees Retirement System acquired a new stake in shares of Materion Co. (NYSE:MTRN - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 10,300 shares of the basic materials company's stock, valued at approximately $1,340,000.
Other hedge funds also recently bought and sold shares of the company. CENTRAL TRUST Co grew its stake in Materion by 529.0% during the fourth quarter. CENTRAL TRUST Co now owns 195 shares of the basic materials company's stock valued at $25,000 after acquiring an additional 164 shares in the last quarter. Anchor Investment Management LLC purchased a new position in Materion in the 4th quarter worth approximately $137,000. AdvisorNet Financial Inc grew its stake in Materion by 189.6% in the 4th quarter. AdvisorNet Financial Inc now owns 1,222 shares of the basic materials company's stock worth $159,000 after buying an additional 800 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new position in Materion in the 3rd quarter worth approximately $191,000. Finally, Strs Ohio purchased a new position in Materion in the 3rd quarter worth approximately $203,000. Hedge funds and other institutional investors own 93.56% of the company's stock.
Materion Trading Down 1.5 %
Shares of Materion stock traded down $1.85 during trading on Monday, reaching $117.63. The company's stock had a trading volume of 72,445 shares, compared to its average volume of 98,504. Materion Co. has a 52-week low of $92.23 and a 52-week high of $145.08. The company has a market cap of $2.44 billion, a price-to-earnings ratio of 25.68 and a beta of 1.14. The firm's 50-day moving average is $129.62 and its two-hundred day moving average is $119.65. The company has a quick ratio of 1.05, a current ratio of 2.78 and a debt-to-equity ratio of 0.45.
Materion (NYSE:MTRN - Get Free Report) last posted its quarterly earnings results on Thursday, February 15th. The basic materials company reported $1.41 EPS for the quarter, beating analysts' consensus estimates of $1.38 by $0.03. Materion had a net margin of 5.75% and a return on equity of 13.49%. The company had revenue of $421.00 million during the quarter, compared to analyst estimates of $420.50 million. During the same period in the prior year, the business posted $1.49 EPS. The firm's revenue was down 3.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Materion Co. will post 6.03 earnings per share for the current year.
Materion Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Thursday, February 22nd were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $0.52 dividend on an annualized basis and a yield of 0.44%. Materion's dividend payout ratio is currently 11.35%.
Analyst Ratings Changes
Separately, KeyCorp cut their price objective on shares of Materion from $157.00 to $156.00 and set an "overweight" rating for the company in a research note on Monday, April 1st.
View Our Latest Stock Report on MTRN
Insider Activity at Materion
In other Materion news, CFO Shelly Marie Chadwick sold 2,000 shares of the company's stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $132.60, for a total value of $265,200.00. Following the completion of the transaction, the chief financial officer now directly owns 13,147 shares in the company, valued at approximately $1,743,292.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Materion news, CFO Shelly Marie Chadwick sold 2,000 shares of the company's stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $132.60, for a total value of $265,200.00. Following the completion of the transaction, the chief financial officer now directly owns 13,147 shares in the company, valued at approximately $1,743,292.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Gregory R. Chemnitz sold 3,000 shares of the company's stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $133.74, for a total transaction of $401,220.00. Following the completion of the sale, the vice president now directly owns 14,510 shares in the company, valued at $1,940,567.40. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.
About Materion
(
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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