Principal Financial Group Inc. Sells 8,899 Shares of Materion Co. (NYSE:MTRN)

Principal Financial Group Inc. decreased its position in Materion Co. (NYSE:MTRN - Free Report) by 8.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 98,246 shares of the basic materials company's stock after selling 8,899 shares during the quarter. Principal Financial Group Inc. owned approximately 0.47% of Materion worth $10,990,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Opal Wealth Advisors LLC acquired a new stake in Materion in the 2nd quarter valued at approximately $25,000. Quest Partners LLC grew its stake in shares of Materion by 25,600.0% in the second quarter. Quest Partners LLC now owns 257 shares of the basic materials company's stock worth $28,000 after acquiring an additional 256 shares during the last quarter. Lynx Investment Advisory bought a new position in Materion during the second quarter worth $38,000. Brown Lisle Cummings Inc. acquired a new position in Materion during the 2nd quarter valued at $92,000. Finally, SG Americas Securities LLC bought a new stake in Materion in the 1st quarter valued at $150,000. 93.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Materion Stock Performance

Shares of MTRN stock traded down $1.30 during mid-day trading on Monday, reaching $113.14. The stock had a trading volume of 81,317 shares, compared to its average volume of 98,750. The firm has a market cap of $2.35 billion, a PE ratio of 32.24 and a beta of 1.19. The company has a quick ratio of 1.26, a current ratio of 3.15 and a debt-to-equity ratio of 0.51. Materion Co. has a one year low of $96.18 and a one year high of $145.08. The firm's 50 day simple moving average is $107.73 and its 200 day simple moving average is $110.34.

Materion (NYSE:MTRN - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The basic materials company reported $1.41 earnings per share (EPS) for the quarter, meeting the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.39 EPS. On average, analysts forecast that Materion Co. will post 5.24 EPS for the current year.

Materion Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Thursday, November 14th will be given a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date is Thursday, November 14th. Materion's dividend payout ratio (DPR) is 15.21%.

Insiders Place Their Bets

In other 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 in the company, valued at approximately $1,414,484.67. This represents a 14.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.30% of the company's stock.

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.