Panagora Asset Management Inc. decreased its holdings in shares of Materion Corp (NYSE:MTRN) by 37.2% during the 3rd quarter, Holdings Channel reports. The firm owned 68,038 shares of the basic materials company’s stock after selling 40,232 shares during the period. Panagora Asset Management Inc.’s holdings in Materion were worth $4,116,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in MTRN. Walthausen & Co. LLC acquired a new position in shares of Materion during the 3rd quarter worth $13,467,000. BlackRock Inc. boosted its holdings in shares of Materion by 7.6% during the 2nd quarter. BlackRock Inc. now owns 2,923,599 shares of the basic materials company’s stock worth $158,313,000 after buying an additional 206,358 shares during the period. Granite Investment Partners LLC bought a new stake in shares of Materion during the 3rd quarter worth $9,029,000. Citadel Advisors LLC boosted its holdings in shares of Materion by 205.5% during the 2nd quarter. Citadel Advisors LLC now owns 139,926 shares of the basic materials company’s stock worth $7,577,000 after buying an additional 94,121 shares during the period. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Materion during the 3rd quarter worth $4,375,000. Institutional investors own 90.90% of the company’s stock.
NYSE MTRN opened at $48.49 on Friday. The company has a quick ratio of 1.64, a current ratio of 3.22 and a debt-to-equity ratio of 0.03. The firm has a market cap of $1.00 billion, a P/E ratio of 22.10 and a beta of 1.04. Materion Corp has a 1 year low of $44.95 and a 1 year high of $65.10.
Materion (NYSE:MTRN) last issued its quarterly earnings results on Thursday, October 25th. The basic materials company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.13. Materion had a net margin of 2.74% and a return on equity of 8.94%. The firm had revenue of $297.19 million during the quarter, compared to the consensus estimate of $307.70 million. On average, equities research analysts expect that Materion Corp will post 2.28 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, December 3rd. Shareholders of record on Thursday, November 8th were issued a $0.105 dividend. This represents a $0.42 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date was Wednesday, November 7th. Materion’s dividend payout ratio (DPR) is presently 24.42%.
In other Materion news, VP Gregory R. Chemnitz sold 4,000 shares of the stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $57.50, for a total value of $230,000.00. Following the completion of the sale, the vice president now directly owns 8,523 shares of the company’s stock, valued at approximately $490,072.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.90% of the stock is owned by corporate insiders.
Separately, Zacks Investment Research raised shares of Materion from a “hold” rating to a “strong-buy” rating and set a $67.00 price objective for the company in a report on Tuesday, October 30th.
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Materion Company Profile
Materion Corporation manufactures and sells advanced engineered materials used in consumer electronics, industrial components, defense, medical, automotive electronics, telecommunications infrastructure, energy, commercial aerospace, science, services, and appliance markets worldwide. The company operates through Performance Alloys and Composites, Advanced Materials, and Precision Coatings segments.
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