Intech Investment Management LLC Sells 16,618 Shares of Materion Corporation $MTRN

by · The Cerbat Gem

Intech Investment Management LLC decreased its holdings in Materion Corporation (NYSE:MTRNFree Report) by 13.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 105,391 shares of the basic materials company’s stock after selling 16,618 shares during the period. Intech Investment Management LLC’s holdings in Materion were worth $8,365,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Materion by 7.6% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,344 shares of the basic materials company’s stock worth $424,000 after buying an additional 378 shares during the period. Police & Firemen s Retirement System of New Jersey lifted its position in shares of Materion by 7.2% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 4,731 shares of the basic materials company’s stock worth $375,000 after acquiring an additional 318 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Materion by 2.2% during the second quarter. Geode Capital Management LLC now owns 487,186 shares of the basic materials company’s stock worth $38,673,000 after acquiring an additional 10,468 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of Materion by 25.3% in the second quarter. First Horizon Advisors Inc. now owns 585 shares of the basic materials company’s stock worth $46,000 after acquiring an additional 118 shares during the period. Finally, Pinnacle Associates Ltd. grew its position in shares of Materion by 19.7% in the second quarter. Pinnacle Associates Ltd. now owns 12,950 shares of the basic materials company’s stock valued at $1,028,000 after purchasing an additional 2,130 shares in the last quarter. 93.56% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MTRN has been the topic of a number of recent research reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Materion in a report on Wednesday, October 8th. KeyCorp upped their price target on Materion from $115.00 to $117.00 and gave the company an “overweight” rating in a research report on Wednesday, August 13th. Zacks Research lowered shares of Materion from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Finally, Wall Street Zen cut shares of Materion from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $117.00.

View Our Latest Report on Materion

Materion Trading Down 0.9%

Shares of MTRN opened at $116.23 on Monday. Materion Corporation has a 1-year low of $69.10 and a 1-year high of $135.33. The company has a market capitalization of $2.41 billion, a P/E ratio of 122.35 and a beta of 0.91. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.28 and a quick ratio of 1.25. The firm’s 50 day simple moving average is $121.01 and its 200 day simple moving average is $101.16.

Materion (NYSE:MTRNGet Free Report) last released its quarterly earnings results on Wednesday, March 22nd. The basic materials company reported $1.03 EPS for the quarter. The business had revenue of $230.20 million during the quarter. Materion had a net margin of 1.12% and a return on equity of 12.66%. Sell-side analysts forecast that Materion Corporation will post 5.5 earnings per share for the current fiscal year.

Materion Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Thursday, November 13th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Thursday, November 13th. Materion’s dividend payout ratio is currently 58.95%.

Insiders Place Their Bets

In other Materion news, VP Gregory R. Chemnitz sold 864 shares of Materion stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $113.23, for a total transaction of $97,830.72. Following the completion of the sale, the vice president owned 10,376 shares of the company’s stock, valued at $1,174,874.48. The trade was a 7.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.60% of the stock is owned by insiders.

Materion Company Profile

(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.

Further Reading

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