State of Alaska Department of Revenue Has $147,000 Position in Materion Corporation (NYSE:MTRN)
State of Alaska Department of Revenue boosted its position in shares of Materion Corporation (NYSE:MTRN) by 79.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,949 shares of the basic materials company’s stock after buying an additional 1,749 shares during the period. State of Alaska Department of Revenue’s holdings in Materion Corporation were worth $147,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. SG Americas Securities LLC bought a new stake in shares of Materion Corporation during the first quarter worth about $115,000. Victory Capital Management Inc. raised its stake in shares of Materion Corporation by 50.5% in the first quarter. Victory Capital Management Inc. now owns 3,789 shares of the basic materials company’s stock worth $127,000 after buying an additional 1,271 shares during the period. Mason Street Advisors LLC raised its stake in shares of Materion Corporation by 7.1% in the first quarter. Mason Street Advisors LLC now owns 4,665 shares of the basic materials company’s stock worth $157,000 after buying an additional 308 shares during the period. O Shaughnessy Asset Management LLC bought a new stake in shares of Materion Corporation during the first quarter worth about $160,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of Materion Corporation by 1.9% in the first quarter. PNC Financial Services Group Inc. now owns 5,096 shares of the basic materials company’s stock worth $171,000 after buying an additional 96 shares during the period. Institutional investors own 89.08% of the company’s stock.
Shares of Materion Corporation (MTRN) traded down 0.66% during mid-day trading on Thursday, hitting $37.80. 8,637 shares of the company were exchanged. Materion Corporation has a 12-month low of $26.89 and a 12-month high of $41.23. The stock’s 50-day moving average price is $37.79 and its 200 day moving average price is $36.04. The stock has a market cap of $757.44 million, a PE ratio of 30.51 and a beta of 1.16.
Materion Corporation (NYSE:MTRN) last issued its earnings results on Thursday, July 27th. The basic materials company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. The business had revenue of $295.80 million during the quarter, compared to analyst estimates of $254.28 million. Materion Corporation had a return on equity of 5.96% and a net margin of 2.47%. Materion Corporation’s revenue was up 18.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.31 earnings per share. On average, equities analysts anticipate that Materion Corporation will post $1.51 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Investors of record on Friday, August 18th will be paid a $0.10 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.05%. Materion Corporation’s payout ratio is 32.26%.
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A number of brokerages recently issued reports on MTRN. Zacks Investment Research upgraded shares of Materion Corporation from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research note on Friday, June 16th. BidaskClub lowered shares of Materion Corporation from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Finally, Jefferies Group LLC restated a “hold” rating and issued a $34.00 price target on shares of Materion Corporation in a research note on Friday, July 7th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $36.67.
In other Materion Corporation news, insider Richard J. Hipple sold 5,000 shares of the stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $33.95, for a total transaction of $169,750.00. Following the completion of the transaction, the insider now directly owns 109,591 shares in the company, valued at $3,720,614.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Gregory R. Chemnitz sold 3,000 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $38.29, for a total value of $114,870.00. Following the transaction, the vice president now owns 18,052 shares of the company’s stock, valued at $691,211.08. The disclosure for this sale can be found here. Insiders sold 75,500 shares of company stock valued at $2,694,520 over the last 90 days. 2.90% of the stock is currently owned by corporate insiders.
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.
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