Russell Investments Group Ltd. lowered its stake in Materion Corporation (NYSE:MTRN) by 20.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 42,579 shares of the basic materials company’s stock after selling 11,239 shares during the period. Russell Investments Group Ltd.’s holdings in Materion Corporation were worth $1,429,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of the company. Louisiana State Employees Retirement System boosted its position in Materion Corporation by 1.3% in the first quarter. Louisiana State Employees Retirement System now owns 8,100 shares of the basic materials company’s stock valued at $272,000 after buying an additional 100 shares during the period. Nationwide Fund Advisors boosted its position in Materion Corporation by 5.0% in the first quarter. Nationwide Fund Advisors now owns 19,080 shares of the basic materials company’s stock valued at $640,000 after buying an additional 910 shares during the period. Comerica Bank boosted its position in Materion Corporation by 5.7% in the fourth quarter. Comerica Bank now owns 21,281 shares of the basic materials company’s stock valued at $842,000 after buying an additional 1,151 shares during the period. State Board of Administration of Florida Retirement System boosted its position in Materion Corporation by 15.0% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 11,630 shares of the basic materials company’s stock valued at $461,000 after buying an additional 1,520 shares during the period. Finally, Strs Ohio boosted its position in Materion Corporation by 12.1% in the first quarter. Strs Ohio now owns 23,200 shares of the basic materials company’s stock valued at $778,000 after buying an additional 2,500 shares during the period. 89.98% of the stock is owned by institutional investors.
Materion Corporation (NYSE:MTRN) opened at 37.00 on Thursday. Materion Corporation has a 1-year low of $23.06 and a 1-year high of $41.22. The firm has a 50-day moving average of $35.26 and a 200-day moving average of $36.52. The stock has a market capitalization of $739.48 million, a PE ratio of 32.20 and a beta of 1.16.
Materion Corporation (NYSE:MTRN) last posted its quarterly earnings data on Friday, April 28th. The basic materials company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. The company had revenue of $240.67 million for the quarter, compared to the consensus estimate of $231.58 million. Materion Corporation had a net margin of 2.40% and a return on equity of 5.50%. The firm’s revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.27 earnings per share. Equities analysts expect that Materion Corporation will post $1.50 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 2nd. Investors of record on Wednesday, May 17th were issued a $0.10 dividend. This is an increase from Materion Corporation’s previous quarterly dividend of $0.10. The ex-dividend date was Monday, May 15th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.08%. Materion Corporation’s dividend payout ratio (DPR) is presently 34.78%.
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Separately, Zacks Investment Research upgraded shares of Materion Corporation from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a report on Friday, June 16th.
In related news, insider Richard J. Hipple sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 30th. The shares were sold at an average price of $32.11, for a total value of $385,320.00. Following the transaction, the insider now owns 121,602 shares of the company’s stock, valued at $3,904,640.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Richard J. Hipple sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $34.17, for a total transaction of $85,425.00. Following the completion of the transaction, the insider now directly owns 124,591 shares in the company, valued at approximately $4,257,274.47. The disclosure for this sale can be found here. In the last three months, insiders sold 75,230 shares of company stock worth $2,604,773. 2.90% of the stock is currently owned by insiders.
About Materion Corporation
Materion Corporation, through its subsidiaries, is an integrated producer of engineered materials used in a range of electrical, electronic, thermal, and structural applications. The Company operates in four segments: Performance Alloys and Composites, Advanced Materials, Precision Coatings, and Other.
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