ACK Asset Management LLC Cuts Stock Position in Materion Co. (NYSE:MTRN)

ACK Asset Management LLC reduced its position in Materion Co. (NYSE:MTRN - Free Report) by 2.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 494,800 shares of the basic materials company's stock after selling 10,700 shares during the period. Materion accounts for approximately 6.6% of ACK Asset Management LLC's investment portfolio, making the stock its 7th largest holding. ACK Asset Management LLC owned approximately 2.38% of Materion worth $48,926,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MTRN. Bank of Montreal Can boosted its position in shares of Materion by 9.7% in the 4th quarter. Bank of Montreal Can now owns 5,304 shares of the basic materials company's stock worth $524,000 after purchasing an additional 470 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in Materion by 1.2% during the fourth quarter. Envestnet Asset Management Inc. now owns 74,541 shares of the basic materials company's stock worth $7,371,000 after buying an additional 871 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Materion during the 4th quarter worth about $425,000. Wells Fargo & Company MN increased its stake in shares of Materion by 6.7% in the 4th quarter. Wells Fargo & Company MN now owns 46,025 shares of the basic materials company's stock valued at $4,551,000 after acquiring an additional 2,888 shares during the last quarter. Finally, Trexquant Investment LP acquired a new stake in shares of Materion in the 4th quarter valued at approximately $298,000. 93.56% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Shelly Marie Chadwick sold 805 shares of the business's stock in a transaction on Friday, January 31st. The shares were sold at an average price of $101.24, for a total value of $81,498.20. Following the sale, the chief financial officer now directly owns 14,632 shares of the company's stock, valued at approximately $1,481,343.68. The trade was a 5.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.30% of the company's stock.

Materion Trading Up 1.6 %

NYSE:MTRN traded up $1.22 during trading hours on Friday, hitting $77.88. The stock had a trading volume of 98,669 shares, compared to its average volume of 100,152. The business's 50 day moving average is $88.08 and its 200-day moving average is $99.98. The company has a market cap of $1.62 billion, a price-to-earnings ratio of 268.56 and a beta of 1.15. Materion Co. has a one year low of $69.10 and a one year high of $129.60. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.26 and a current ratio of 3.19.

Materion (NYSE:MTRN - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The basic materials company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.43 by $0.12. Materion had a return on equity of 12.42% and a net margin of 0.35%. The business had revenue of $436.90 million for the quarter, compared to the consensus estimate of $433.22 million. During the same quarter last year, the business posted $1.41 EPS. The firm's revenue was up 3.8% compared to the same quarter last year. Sell-side analysts anticipate that Materion Co. will post 5.5 EPS for the current fiscal year.

Materion Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Thursday, February 20th were paid a dividend of $0.135 per share. The ex-dividend date was Thursday, February 20th. This represents a $0.54 dividend on an annualized basis and a yield of 0.69%. Materion's payout ratio is 186.21%.

Materion Company 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.