Bank of New York Mellon Corp Has $8,041,000 Stake in Materion Corp. (MTRN)
Bank of New York Mellon Corp lowered its stake in Materion Corp. (NYSE:MTRN) by 7.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 324,806 shares of the company’s stock after selling 27,825 shares during the period. Bank of New York Mellon Corp owned 1.62% of Materion Corp. worth $8,041,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Fund Advisors raised its stake in Materion Corp. by 0.9% in the first quarter. BlackRock Fund Advisors now owns 1,258,851 shares of the company’s stock valued at $33,334,000 after buying an additional 11,816 shares in the last quarter. Norges Bank bought a new stake in Materion Corp. during the fourth quarter valued at $9,156,000. Uniplan Investment Counsel Inc. raised its stake in Materion Corp. by 0.4% in the first quarter. Uniplan Investment Counsel Inc. now owns 156,577 shares of the company’s stock valued at $4,146,000 after buying an additional 548 shares in the last quarter. Franklin Resources Inc. raised its stake in Materion Corp. by 75.3% in the first quarter. Franklin Resources Inc. now owns 149,000 shares of the company’s stock valued at $3,946,000 after buying an additional 64,000 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Materion Corp. by 11.5% in the first quarter. Geode Capital Management LLC now owns 139,521 shares of the company’s stock valued at $3,693,000 after buying an additional 14,409 shares in the last quarter. Hedge funds and other institutional investors own 90.83% of the company’s stock.
Materion Corp. (NYSE:MTRN) traded up 0.51% during trading on Friday, reaching $29.55. 918,633 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $28.27 and a 200-day moving average of $26.43. Materion Corp. has a 12 month low of $20.62 and a 12 month high of $35.21. The stock has a market cap of $590.02 million, a PE ratio of 23.83 and a beta of 1.49.
Materion Corp. (NYSE:MTRN) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. The firm earned $249.80 million during the quarter, compared to analyst estimates of $235.29 million. Materion Corp. had a return on equity of 5.55% and a net margin of 2.60%. The business’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.43 earnings per share. On average, equities research analysts anticipate that Materion Corp. will post $1.34 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 2nd. Stockholders of record on Friday, August 19th were paid a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date was Wednesday, August 17th. Materion Corp.’s dividend payout ratio (DPR) is presently 31.40%.
Several analysts recently issued reports on the stock. Zacks Investment Research raised shares of Materion Corp. from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research report on Tuesday, August 2nd. TheStreet raised shares of Materion Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, August 18th.
About Materion Corp.
Materion Corporation is a holding company. The Company is an integrated producer of engineered materials used in a range of electrical, electronic, thermal and structural applications. The Company’s products are sold in markets, including consumer electronics, industrial components, medical, automotive electronics, energy, telecommunications infrastructure, defense and commercial aerospace.
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