Phocas Financial Corp. Trims Holdings in Materion Co. (NYSE:MTRN)

Phocas Financial Corp. reduced its holdings in shares of Materion Co. (NYSE:MTRN - Free Report) by 5.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 76,387 shares of the basic materials company's stock after selling 4,826 shares during the period. Phocas Financial Corp. owned about 0.37% of Materion worth $8,545,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Ceredex Value Advisors LLC bought a new stake in Materion during the 2nd quarter worth approximately $12,938,000. F M Investments LLC purchased a new position in shares of Materion in the second quarter valued at about $11,643,000. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Materion by 31.3% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 444,003 shares of the basic materials company's stock worth $48,010,000 after acquiring an additional 105,969 shares during the period. Vaughan Nelson Investment Management L.P. grew its position in shares of Materion by 21.8% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 538,975 shares of the basic materials company's stock worth $58,280,000 after purchasing an additional 96,525 shares in the last quarter. Finally, abrdn plc raised its stake in Materion by 19.8% during the 3rd quarter. abrdn plc now owns 258,728 shares of the basic materials company's stock valued at $28,941,000 after purchasing an additional 42,717 shares during the period. Hedge funds and other institutional investors own 93.56% of the company's stock.

Insider Transactions at Materion

In other Materion news, VP Gregory R. Chemnitz sold 2,000 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $117.57, for a total transaction of $235,140.00. Following the sale, the vice president now owns 12,031 shares of the company's stock, valued at approximately $1,414,484.67. This trade represents a 14.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.60% of the company's stock.

Materion Price Performance

Shares of MTRN traded down $1.85 during mid-day trading on Tuesday, hitting $111.29. 61,565 shares of the stock were exchanged, compared to its average volume of 98,558. The firm has a 50-day moving average of $107.95 and a two-hundred day moving average of $110.36. Materion Co. has a 52-week low of $96.18 and a 52-week high of $145.08. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.26 and a current ratio of 3.15. The company has a market cap of $2.31 billion, a PE ratio of 31.89 and a beta of 1.19.

Materion (NYSE:MTRN - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The basic materials company reported $1.41 EPS for the quarter, meeting analysts' consensus estimates of $1.41. Materion had a net margin of 4.45% and a return on equity of 12.06%. The firm had revenue of $436.70 million during the quarter, compared to the consensus estimate of $416.40 million. During the same quarter last year, the firm earned $1.39 EPS. The firm's revenue for the quarter was up 8.3% compared to the same quarter last year. On average, equities analysts predict that Materion Co. will post 5.24 earnings per share for the current year.

Materion Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Thursday, November 14th will be issued a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 0.49%. The ex-dividend date is Thursday, November 14th. Materion's dividend payout ratio is 15.21%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Materion from a "sell" rating to a "hold" rating in a research report on Thursday, August 8th.

About Materion

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.