Comerica Bank decreased its holdings in Materion Corporation (NYSE:MTRN) by 5.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 20,906 shares of the basic materials company’s stock after selling 1,133 shares during the period. Comerica Bank owned approximately 0.10% of Materion Corporation worth $794,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. PNC Financial Services Group Inc. grew its position in Materion Corporation by 1.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,096 shares of the basic materials company’s stock worth $171,000 after acquiring an additional 96 shares during the last quarter. Louisiana State Employees Retirement System grew its position in Materion Corporation by 1.3% during the 1st quarter. Louisiana State Employees Retirement System now owns 8,100 shares of the basic materials company’s stock worth $272,000 after acquiring an additional 100 shares during the last quarter. Arizona State Retirement System grew its position in Materion Corporation by 1.0% during the 1st quarter. Arizona State Retirement System now owns 10,412 shares of the basic materials company’s stock worth $349,000 after acquiring an additional 100 shares during the last quarter. Texas Permanent School Fund grew its position in Materion Corporation by 1.0% during the 2nd quarter. Texas Permanent School Fund now owns 14,592 shares of the basic materials company’s stock worth $546,000 after acquiring an additional 148 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its position in Materion Corporation by 0.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 23,280 shares of the basic materials company’s stock worth $871,000 after acquiring an additional 150 shares during the last quarter. Institutional investors own 90.80% of the company’s stock.

Shares of Materion Corporation (MTRN) opened at 38.60 on Friday. Materion Corporation has a 12 month low of $28.50 and a 12 month high of $41.23. The company’s 50-day moving average price is $38.21 and its 200-day moving average price is $36.08. The company has a market cap of $773.47 million, a price-to-earnings ratio of 31.15 and a beta of 1.15.

Materion Corporation (NYSE:MTRN) last released its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.02. Materion Corporation had a return on equity of 5.96% and a net margin of 2.47%. The business had revenue of $295.80 million for the quarter, compared to the consensus estimate of $254.28 million. During the same quarter last year, the business posted $0.31 earnings per share. The company’s revenue for the quarter was up 18.4% on a year-over-year basis. Analysts anticipate that Materion Corporation will post $1.52 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 5th. Shareholders of record on Friday, August 18th were given a dividend of $0.10 per share. The ex-dividend date was Wednesday, August 16th. This represents a $0.40 dividend on an annualized basis and a yield of 1.04%. Materion Corporation’s payout ratio is 32.26%.

MTRN has been the topic of a number of research reports. Zacks Investment Research lowered Materion Corporation from a “buy” rating to a “hold” rating in a research report on Friday, May 26th. Jefferies Group LLC restated a “hold” rating and set a $34.00 price objective on shares of Materion Corporation in a research report on Friday, July 7th. Finally, BidaskClub upgraded Materion Corporation from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 2nd.

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In other news, insider Richard J. Hipple sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $37.38, for a total transaction of $93,450.00. Following the transaction, the insider now directly owns 57,091 shares of the company’s stock, valued at $2,134,061.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Gregory R. Chemnitz sold 3,000 shares of the firm’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $38.29, for a total value of $114,870.00. Following the transaction, the vice president now directly owns 18,052 shares in the company, valued at $691,211.08. The disclosure for this sale can be found here. Insiders have sold 10,500 shares of company stock worth $393,570 in the last 90 days. Company insiders own 2.90% of the company’s stock.

About Materion Corporation

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.

Institutional Ownership by Quarter for Materion Corporation (NYSE:MTRN)

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