Materion Corporation $MTRN Stock: ProShare Advisors LLC Boosts Holdings

ProShare Advisors LLC raised its holdings in Materion Corporation (NYSE:MTRN) by 40.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 42,131 shares of the basic materials company’s stock after purchasing an additional 12,042 shares during the period. ProShare Advisors LLC’s holdings in Materion were worth $11,358,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Contravisory Investment Management Inc. lifted its holdings in shares of Materion by 2.2% during the 2nd quarter. Contravisory Investment Management Inc. now owns 1,867 shares of the basic materials company’s stock worth $555,000 after acquiring an additional 40 shares during the period. Allworth Financial LP increased its stake in Materion by 32.6% in the second quarter. Allworth Financial LP now owns 175 shares of the basic materials company’s stock valued at $52,000 after acquiring an additional 43 shares during the period. Inspire Investing LLC increased its stake in Materion by 2.0% in the third quarter. Inspire Investing LLC now owns 2,342 shares of the basic materials company’s stock valued at $631,000 after acquiring an additional 46 shares during the period. Oregon Public Employees Retirement Fund raised its position in Materion by 1.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 4,760 shares of the basic materials company’s stock worth $689,000 after purchasing an additional 63 shares in the last quarter. Finally, Abel Hall LLC raised its position in Materion by 4.7% in the third quarter. Abel Hall LLC now owns 1,455 shares of the basic materials company’s stock worth $392,000 after purchasing an additional 65 shares in the last quarter. Institutional investors and hedge funds own 93.56% of the company’s stock.

Insider Activity

In other Materion news, Director Emily Liggett sold 1,012 shares of the company’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $232.42, for a total transaction of $235,209.04. Following the sale, the director directly owned 3,161 shares of the company’s stock, valued at approximately $734,679.62. This represents a 24.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jugal Vijayvargiya sold 24,336 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $291.62, for a total transaction of $7,096,864.32. Following the sale, the chief executive officer directly owned 116,699 shares of the company’s stock, valued at approximately $34,031,762.38. The trade was a 17.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 29,053 shares of company stock valued at $8,301,958 in the last ninety days. 2.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MTRN. Zacks Research cut shares of Materion from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Weiss Ratings lowered Materion from a “buy (b-)” rating to a “hold (c)” rating in a research note on Thursday, October 29th. Jefferies Financial Group began coverage on Materion in a report on Wednesday, September 2nd. They issued a “buy” rating and a $314.00 target price for the company. Wall Street Zen upgraded Materion from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, KeyCorp raised their target price on Materion from $237.00 to $306.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $310.00.

Materion Stock Up 4.9%

Shares of NYSE:MTRN opened at $227.46 on Wednesday. The company’s fifty day moving average is $252.78 and its 200-day moving average is $212.29. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.29 and a current ratio of 2.94. Materion Corporation has a 52 week low of $110.69 and a 52 week high of $324.98. The company has a market capitalization of $4.74 billion, a PE ratio of 53.02 and a beta of 1.10.

Materion (NYSE:MTRN) last announced its earnings results on Wednesday, August 5th. The basic materials company reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.38. The business had revenue of $308.19 million during the quarter, compared to analysts’ expectations of $549.82 million. Materion had a net margin of 4.29% and a return on equity of 13.38%. The firm’s revenue for the quarter was up 42.2% on a year-over-year basis. During the same quarter last year, the company posted $1.37 EPS. Equities research analysts predict that Materion Corporation will post 7.04 earnings per share for the current fiscal year.

Materion Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Thursday, November 19th will be given a $0.1450 dividend. The ex-dividend date is Thursday, November 19th. This represents a $0.58 dividend on an annualized basis and a yield of 0.3%. Materion’s payout ratio is 13.52%.

Materion Company Profile

Materion Corporation is an advanced materials company that develops, manufactures and supplies engineered materials for demanding applications. Its product portfolio includes beryllium and beryllium-aluminum alloys, specialty metals, precious-metal and clad materials, thin-film coating materials, optical filters and other precision components.

The company’s materials and products are used in aerospace and defense, semiconductor manufacturing, communications, medical technology, energy, automotive and other industrial markets.