Materion Corporation (MTRN) Position Lowered by Royal Bank of Canada
Royal Bank of Canada decreased its stake in Materion Corporation (NYSE:MTRN) by 2.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,576 shares of the basic materials company’s stock after selling 278 shares during the period. Royal Bank of Canada owned approximately 0.06% of Materion Corporation worth $433,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. raised its position in Materion Corporation by 12,689.6% during the first quarter. BlackRock Inc. now owns 2,645,014 shares of the basic materials company’s stock worth $88,740,000 after acquiring an additional 2,624,333 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Materion Corporation by 6.1% in the first quarter. Vanguard Group Inc. now owns 1,879,751 shares of the basic materials company’s stock valued at $63,066,000 after buying an additional 108,041 shares during the last quarter. Bank of Montreal Can acquired a new position in shares of Materion Corporation in the second quarter valued at approximately $1,944,000. Northern Trust Corp raised its position in shares of Materion Corporation by 3.9% in the second quarter. Northern Trust Corp now owns 926,420 shares of the basic materials company’s stock valued at $34,648,000 after buying an additional 34,481 shares during the last quarter. Finally, Numeric Investors LLC raised its position in shares of Materion Corporation by 18.5% in the second quarter. Numeric Investors LLC now owns 146,052 shares of the basic materials company’s stock valued at $5,462,000 after buying an additional 22,800 shares during the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.
In other Materion Corporation news, VP Gregory R. Chemnitz sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $49.60, for a total transaction of $148,800.00. Following the completion of the sale, the vice president now directly owns 13,061 shares in the company, valued at $647,825.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director N Mohan Reddy sold 11,393 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $50.11, for a total transaction of $570,903.23. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,393 shares of company stock valued at $1,320,343. 2.90% of the stock is owned by insiders.
A number of equities analysts have recently weighed in on the stock. KeyCorp reissued a “hold” rating on shares of Materion Corporation in a research report on Monday. BidaskClub downgraded shares of Materion Corporation from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 10th. Jefferies Group LLC restated a “hold” rating and issued a $36.00 target price on shares of Materion Corporation in a report on Thursday, October 12th. Finally, Zacks Investment Research upgraded shares of Materion Corporation from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a report on Wednesday, September 27th.
Shares of Materion Corporation (MTRN) opened at $50.50 on Wednesday. Materion Corporation has a twelve month low of $31.05 and a twelve month high of $52.10. The stock has a market cap of $1,012.20, a P/E ratio of 33.89 and a beta of 1.11. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.42 and a quick ratio of 1.48.
Materion Corporation (NYSE:MTRN) last released its quarterly earnings data on Thursday, October 26th. The basic materials company reported $0.50 earnings per share (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 company had revenue of $294.27 million during the quarter, compared to the consensus estimate of $290.96 million. During the same period in the previous year, the firm earned $0.46 earnings per share. Materion Corporation’s revenue for the quarter was up 17.9% on a year-over-year basis. equities analysts anticipate that Materion Corporation will post 1.6 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 8th will be paid 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 yield of 0.79%. Materion Corporation’s dividend payout ratio is currently 30.77%.
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Materion Corporation 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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