Ameriprise Financial Inc. cut its position in shares of Materion Corp (NYSE:MTRN) by 5.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 636,426 shares of the basic materials company’s stock after selling 36,127 shares during the quarter. Ameriprise Financial Inc. owned approximately 3.18% of Materion worth $27,461,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC acquired a new stake in shares of Materion in the third quarter worth approximately $128,000. State of Alaska Department of Revenue boosted its position in shares of Materion by 79.5% in the second quarter. State of Alaska Department of Revenue now owns 3,949 shares of the basic materials company’s stock worth $147,000 after acquiring an additional 1,749 shares during the last quarter. Victory Capital Management Inc. lifted its position in Materion by 17.7% during the second quarter. Victory Capital Management Inc. now owns 4,458 shares of the basic materials company’s stock valued at $167,000 after buying an additional 669 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Materion by 0.7% during the second quarter. PNC Financial Services Group Inc. now owns 5,130 shares of the basic materials company’s stock valued at $193,000 after buying an additional 34 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new position in Materion during the third quarter valued at approximately $205,000. Institutional investors and hedge funds own 90.02% of the company’s stock.
A number of research analysts have weighed in on the stock. BidaskClub cut shares of Materion from a “buy” rating to a “hold” rating in a research report on Friday, August 18th. Jefferies Group reaffirmed a “hold” rating and set a $36.00 price target on shares of Materion in a research report on Thursday, October 12th. ValuEngine cut shares of Materion from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. KeyCorp reaffirmed a “hold” rating on shares of Materion in a research report on Monday, November 13th. Finally, Zacks Investment Research cut shares of Materion from a “buy” rating to a “hold” rating in a research report on Wednesday, October 11th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Materion has a consensus rating of “Hold” and a consensus target price of $39.50.
Shares of Materion Corp (NYSE MTRN) traded down $0.80 during mid-day trading on Thursday, reaching $47.80. 59,900 shares of the company’s stock were exchanged, compared to its average volume of 91,540. The firm has a market capitalization of $974.11, a PE ratio of 32.62 and a beta of 1.07. The company has a current ratio of 3.42, a quick ratio of 1.48 and a debt-to-equity ratio of 0.01. Materion Corp has a 1 year low of $31.05 and a 1 year high of $52.10.
Materion (NYSE:MTRN) last announced its quarterly earnings results on Thursday, October 26th. The basic materials company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.10. The firm had revenue of $294.27 million for the quarter, compared to analysts’ expectations of $290.96 million. Materion had a net margin of 2.48% and a return on equity of 6.08%. Materion’s revenue was up 17.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.46 earnings per share. research analysts anticipate that Materion Corp will post 1.6 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Wednesday, November 8th were paid a dividend of $0.10 per share. The ex-dividend date was Tuesday, November 7th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.84%. Materion’s dividend payout ratio is currently 30.77%.
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Materion Company Profile
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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