Mutual of America Capital Management LLC lifted its holdings in Materion Co. (NYSE:MTRN) by 7.8% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 186,566 shares of the basic materials company’s stock after purchasing an additional 13,462 shares during the period. Mutual of America Capital Management LLC owned about 0.91% of Materion worth $12,806,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of MTRN. Ellevest Inc. purchased a new stake in Materion in the 3rd quarter worth approximately $36,000. AdvisorNet Financial Inc purchased a new stake in Materion during the 3rd quarter valued at approximately $68,000. William Blair Investment Management LLC purchased a new stake in Materion during the 2nd quarter valued at approximately $89,000. Macquarie Group Ltd. grew its holdings in Materion by 435.0% during the 2nd quarter. Macquarie Group Ltd. now owns 1,605 shares of the basic materials company’s stock valued at $121,000 after buying an additional 1,305 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in Materion during the 2nd quarter valued at approximately $130,000. Hedge funds and other institutional investors own 90.27% of the company’s stock.
In other Materion news, Director Craig S. Shular sold 1,623 shares of Materion stock in a transaction on Monday, January 3rd. The shares were sold at an average price of $92.82, for a total transaction of $150,646.86. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.70% of the company’s stock.
Materion (NYSE:MTRN) last announced its quarterly earnings data on Tuesday, November 2nd. The basic materials company reported $1.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.26. Materion had a net margin of 4.19% and a return on equity of 10.65%. The firm had revenue of $388.03 million during the quarter, compared to analyst estimates of $370.30 million. During the same period last year, the firm posted $0.55 EPS. On average, research analysts forecast that Materion Co. will post 3.83 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 3rd. Shareholders of record on Friday, November 12th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, November 10th. This represents a $0.48 annualized dividend and a yield of 0.54%. Materion’s dividend payout ratio (DPR) is presently 16.27%.
A number of research firms recently weighed in on MTRN. KeyCorp raised their target price on shares of Materion from $85.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, November 3rd. Zacks Investment Research lowered shares of Materion from a “hold” rating to a “sell” rating in a report on Wednesday.
Materion Company Profile
Materion Corp. engages in the production of engineered materials used in a variety of electrical, electronic, thermal, and structural applications. The company operates through the following segments: Performance Alloys and Composites, Advanced Materials, Precision Coatings and Other. The Performance Alloys and Composites segment produces strip and bulk form alloy products, strip metal products with clad inlay and overlay metals, beryllium-based metals, beryllium, and aluminum metal matrix composites, in rod, sheet, foil, and a variety of customized forms, beryllium ceramics, and bulk metallic glass material.
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