Insider Selling: Materion (NYSE:MTRN) VP Sells 864 Shares of Stock

Materion Corporation (NYSE:MTRN) VP Gregory Chemnitz sold 864 shares of the stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $113.23, for a total value of $97,830.72. Following the completion of the sale, the vice president owned 10,376 shares of the company’s stock, valued at $1,174,874.48. This trade represents a 7.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Materion Stock Down 0.5%

Shares of NYSE:MTRN traded down $0.58 during mid-day trading on Thursday, reaching $115.38. 80,795 shares of the stock were exchanged, compared to its average volume of 152,191. The company has a quick ratio of 1.25, a current ratio of 3.28 and a debt-to-equity ratio of 0.49. The company has a market cap of $2.39 billion, a P/E ratio of 121.45 and a beta of 0.91. Materion Corporation has a one year low of $69.10 and a one year high of $135.33. The stock’s 50 day simple moving average is $120.04 and its 200-day simple moving average is $99.28.

Materion (NYSE:MTRN) last posted its quarterly earnings data on Wednesday, March 22nd. The basic materials company reported $1.03 earnings per share (EPS) for the quarter. The business had revenue of $230.20 million during the quarter. Materion had a return on equity of 12.66% and a net margin of 1.12%. As a group, equities research analysts predict that Materion Corporation will post 5.5 EPS for the current year.

Materion Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Thursday, November 13th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $0.56 annualized dividend and a dividend yield of 0.5%. Materion’s payout ratio is 58.95%.

Hedge Funds Weigh In On Materion

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC raised its holdings in shares of Materion by 182.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 348 shares of the basic materials company’s stock worth $28,000 after buying an additional 225 shares in the last quarter. Jones Financial Companies Lllp acquired a new position in shares of Materion during the 1st quarter worth $34,000. First Horizon Advisors Inc. raised its holdings in shares of Materion by 25.3% during the 2nd quarter. First Horizon Advisors Inc. now owns 585 shares of the basic materials company’s stock worth $46,000 after buying an additional 118 shares in the last quarter. Elevation Point Wealth Partners LLC acquired a new position in shares of Materion during the 2nd quarter worth $50,000. Finally, TD Waterhouse Canada Inc. acquired a new position in Materion in the 2nd quarter worth about $53,000. 93.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MTRN has been the subject of several research analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Materion in a research note on Wednesday, October 8th. KeyCorp lifted their target price on Materion from $115.00 to $117.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 13th. Zacks Research downgraded Materion from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Finally, Wall Street Zen downgraded Materion from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Materion has an average rating of “Hold” and an average target price of $117.00.

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.