Eagle Asset Management Inc. reduced its position in Materion Co. (NYSE:MTRN - Free Report) by 12.4% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 44,206 shares of the basic materials company's stock after selling 6,269 shares during the period. Eagle Asset Management Inc. owned 0.21% of Materion worth $5,276,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its position in shares of Materion by 2.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 252,985 shares of the basic materials company's stock valued at $28,299,000 after purchasing an additional 5,944 shares in the last quarter. Intech Investment Management LLC increased its position in shares of Materion by 435.3% during the third quarter. Intech Investment Management LLC now owns 35,823 shares of the basic materials company's stock valued at $4,007,000 after buying an additional 29,131 shares during the period. King Luther Capital Management Corp lifted its holdings in shares of Materion by 43.4% in the third quarter. King Luther Capital Management Corp now owns 34,897 shares of the basic materials company's stock worth $3,904,000 after buying an additional 10,566 shares in the last quarter. Segall Bryant & Hamill LLC boosted its position in shares of Materion by 5.3% in the third quarter. Segall Bryant & Hamill LLC now owns 221,086 shares of the basic materials company's stock valued at $24,731,000 after acquiring an additional 11,198 shares during the period. Finally, Pathstone Holdings LLC grew its stake in Materion by 20.3% during the third quarter. Pathstone Holdings LLC now owns 17,192 shares of the basic materials company's stock valued at $1,923,000 after acquiring an additional 2,896 shares in the last quarter. Institutional investors own 93.56% of the company's stock.
Wall Street Analyst Weigh In
Separately, StockNews.com raised shares of Materion from a "sell" rating to a "hold" rating in a report on Thursday, August 8th.
Read Our Latest Analysis on MTRN
Materion Price Performance
Shares of MTRN traded up $1.93 during trading hours on Monday, reaching $118.69. 112,959 shares of the company's stock traded hands, compared to its average volume of 98,587. Materion Co. has a 12 month low of $96.18 and a 12 month high of $145.08. The company has a current ratio of 3.15, a quick ratio of 1.26 and a debt-to-equity ratio of 0.51. The stock has a market cap of $2.46 billion, a PE ratio of 32.89 and a beta of 1.19. The firm's 50 day simple moving average is $108.77 and its 200-day simple moving average is $110.50.
Materion (NYSE:MTRN - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The basic materials company reported $1.41 EPS for the quarter, hitting analysts' consensus estimates of $1.41. The firm had revenue of $436.70 million for the quarter, compared to analyst estimates of $416.40 million. Materion had a net margin of 4.45% and a return on equity of 12.06%. The business's revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.39 EPS. Equities analysts expect that Materion Co. will post 5.24 EPS for the current year.
Materion Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Thursday, November 14th will be paid a dividend of $0.135 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 0.45%. Materion's dividend payout ratio (DPR) is currently 15.21%.
Insider Transactions at Materion
In related news, VP Gregory R. Chemnitz sold 2,000 shares of Materion stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $117.57, for a total value of $235,140.00. Following the transaction, the vice president now directly owns 12,031 shares of the company's stock, valued at $1,414,484.67. The trade was a 14.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.60% of the company's stock.
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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