Wells Fargo & Company MN lifted its stake in shares of Materion Corp (NYSE:MTRN) by 6.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 92,855 shares of the basic materials company’s stock after acquiring an additional 5,996 shares during the quarter. Wells Fargo & Company MN’s holdings in Materion were worth $4,007,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MTRN. Schwab Charles Investment Management Inc. boosted its stake in shares of Materion by 3.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 183,902 shares of the basic materials company’s stock worth $6,878,000 after acquiring an additional 5,297 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Materion by 9.1% during the 2nd quarter. Legal & General Group Plc now owns 37,392 shares of the basic materials company’s stock worth $1,399,000 after acquiring an additional 3,128 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Materion by 37.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,657 shares of the basic materials company’s stock worth $286,000 after acquiring an additional 2,095 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Materion by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 4,458 shares of the basic materials company’s stock worth $167,000 after acquiring an additional 669 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in shares of Materion by 17.5% during the 2nd quarter. Alliancebernstein L.P. now owns 27,481 shares of the basic materials company’s stock worth $1,028,000 after acquiring an additional 4,100 shares in the last quarter. 89.99% of the stock is owned by institutional investors and hedge funds.

Shares of Materion Corp (NYSE MTRN) opened at $51.05 on Monday. The stock has a market capitalization of $1,023.20, a price-to-earnings ratio of 39.27 and a beta of 1.09. Materion Corp has a 1-year low of $31.05 and a 1-year high of $52.10. The company has a quick ratio of 1.48, a current ratio of 3.42 and a debt-to-equity ratio of 0.01.

Materion (NYSE:MTRN) last released its earnings results on Thursday, October 26th. The basic materials company reported $0.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.10. The company had revenue of $294.27 million during the quarter, compared to analyst estimates of $290.96 million. Materion had a return on equity of 6.08% and a net margin of 2.48%. The company’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.46 earnings per share. sell-side analysts expect that Materion Corp will post 1.6 EPS for the current fiscal year.

In other news, Director Richard J. Hipple sold 4,364 shares of the stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $49.64, for a total value of $216,628.96. Following the completion of the sale, the director now owns 37,760 shares in the company, valued at $1,874,406.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard J. Hipple sold 8,000 shares of the stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $50.00, for a total value of $400,000.00. Following the completion of the sale, the director now owns 57,091 shares of the company’s stock, valued at approximately $2,854,550. The disclosure for this sale can be found here. Insiders sold 48,470 shares of company stock valued at $2,420,896 in the last 90 days. Corporate insiders own 2.90% of the company’s stock.

Several equities research analysts have recently weighed in on MTRN shares. Zacks Investment Research raised Materion from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research note on Wednesday, September 27th. BidaskClub raised Materion from a “hold” rating to a “buy” rating in a research note on Thursday, September 28th. Jefferies Group reissued a “hold” rating and set a $36.00 price objective on shares of Materion in a research note on Thursday, October 12th. KeyCorp reissued a “hold” rating on shares of Materion in a research note on Monday, November 13th. Finally, ValuEngine lowered Materion from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Materion has a consensus rating of “Buy” and an average price target of $46.00.

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

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