AMP Capital Investors Ltd Takes Position in Materion Corp (MTRN)
AMP Capital Investors Ltd acquired a new position in shares of Materion Corp (NYSE:MTRN) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,714 shares of the basic materials company’s stock, valued at approximately $201,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. KBC Group NV purchased a new stake in Materion during the second quarter worth about $321,000. Engineers Gate Manager LP purchased a new stake in Materion during the second quarter worth about $538,000. Citadel Advisors LLC increased its holdings in Materion by 205.5% during the second quarter. Citadel Advisors LLC now owns 139,926 shares of the basic materials company’s stock worth $7,577,000 after buying an additional 94,121 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Materion by 2.7% during the first quarter. Principal Financial Group Inc. now owns 154,838 shares of the basic materials company’s stock worth $7,904,000 after buying an additional 4,000 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its holdings in Materion by 4.1% during the first quarter. Schwab Charles Investment Management Inc. now owns 214,293 shares of the basic materials company’s stock worth $10,940,000 after buying an additional 8,347 shares during the last quarter. Institutional investors and hedge funds own 89.49% of the company’s stock.
A number of analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Materion from a “hold” rating to a “buy” rating and set a $69.00 price objective for the company in a report on Tuesday, July 31st. ValuEngine downgraded shares of Materion from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 21st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $58.50.
NYSE MTRN opened at $59.20 on Wednesday. Materion Corp has a 52-week low of $38.70 and a 52-week high of $65.10. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.48 and a quick ratio of 1.69. The stock has a market cap of $1.19 billion, a P/E ratio of 34.42 and a beta of 0.96.
Materion (NYSE:MTRN) last posted its earnings results on Thursday, July 26th. The basic materials company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.03. The firm had revenue of $309.10 million during the quarter, compared to the consensus estimate of $311.90 million. Materion had a net margin of 1.88% and a return on equity of 8.30%. The company’s revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the company earned $0.42 earnings per share. equities research analysts anticipate that Materion Corp will post 2.14 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 5th. Stockholders of record on Tuesday, August 21st were paid a $0.105 dividend. The ex-dividend date of this dividend was Monday, August 20th. This represents a $0.42 annualized dividend and a dividend yield of 0.71%. Materion’s payout ratio is 24.42%.
Materion Company Profile
Materion Corporation manufactures and sells advanced engineered materials used in consumer electronics, industrial components, defense, medical, automotive electronics, telecommunications infrastructure, energy, commercial aerospace, science, services, and appliance markets worldwide. The company operates through Performance Alloys and Composites, Advanced Materials, and Precision Coatings segments.
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