California Public Employees Retirement System Has $1.49 Million Holdings in Materion Corporation (MTRN)
California Public Employees Retirement System reduced its position in Materion Corporation (NYSE:MTRN) by 12.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,900 shares of the basic materials company’s stock after selling 5,800 shares during the period. California Public Employees Retirement System owned approximately 0.20% of Materion Corporation worth $1,492,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in Materion Corporation in the 1st quarter valued at about $115,000. State of Alaska Department of Revenue boosted its position in Materion Corporation by 79.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 3,949 shares of the basic materials company’s stock valued at $147,000 after buying an additional 1,749 shares during the last quarter. Victory Capital Management Inc. boosted its position in Materion Corporation by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 4,458 shares of the basic materials company’s stock valued at $167,000 after buying an additional 669 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Materion Corporation by 1.9% during the first quarter. PNC Financial Services Group Inc. now owns 5,096 shares of the basic materials company’s stock worth $171,000 after purchasing an additional 96 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan lifted its position in shares of Materion Corporation by 2.4% during the second quarter. Municipal Employees Retirement System of Michigan now owns 7,120 shares of the basic materials company’s stock worth $267,000 after purchasing an additional 170 shares during the last quarter. 90.77% of the stock is owned by institutional investors.
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Several brokerages have recently commented on MTRN. BidaskClub raised shares of Materion Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, October 31st. Jefferies Group LLC reaffirmed a “hold” rating and set a $36.00 price target on shares of Materion Corporation in a research report on Thursday, October 12th. Finally, Zacks Investment Research cut shares of Materion Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, October 11th.
Materion Corporation (NYSE MTRN) opened at $50.20 on Tuesday. The company has a current ratio of 3.42, a quick ratio of 1.48 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $1,001.17, a P/E ratio of 33.52 and a beta of 1.11.
Materion Corporation (NYSE:MTRN) last issued its quarterly earnings results on Thursday, October 26th. The basic materials company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.40 by $0.10. Materion Corporation had a net margin of 2.48% and a return on equity of 6.08%. The business had revenue of $294.27 million for the quarter, compared to analysts’ expectations of $290.96 million. During the same quarter last year, the company posted $0.46 earnings per share. The company’s quarterly revenue was up 17.9% compared to the same quarter last year. sell-side analysts predict that Materion Corporation will post 1.6 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 8th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, November 7th. This represents a $0.40 annualized dividend and a dividend yield of 0.80%. Materion Corporation’s payout ratio is 30.77%.
In related news, VP Gregory R. Chemnitz sold 4,000 shares of the stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $50.16, for a total transaction of $200,640.00. Following the sale, the vice president now owns 13,245 shares in the company, valued at $664,369.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Gregory R. Chemnitz sold 3,000 shares of the stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $49.60, for a total transaction of $148,800.00. Following the sale, the vice president now owns 13,061 shares in the company, valued at approximately $647,825.60. The disclosure for this sale can be found here. Insiders have sold 18,393 shares of company stock worth $920,343 in the last ninety days. Corporate insiders own 2.90% of the company’s stock.
Materion Corporation Company Profile
Materion Corporation, through its subsidiaries, is an integrated producer of engineered materials used in a range of electrical, electronic, thermal, and structural applications. The Company operates in four segments: Performance Alloys and Composites, Advanced Materials, Precision Coatings, and Other.
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