Texas Permanent School Fund Corp Sells 6,699 Shares of Materion Corporation $MTRN

Texas Permanent School Fund Corp lowered its stake in Materion Corporation (NYSE:MTRN) by 6.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 94,747 shares of the basic materials company’s stock after selling 6,699 shares during the period. Texas Permanent School Fund Corp’s holdings in Materion were worth $7,520,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in MTRN. State Street Corp lifted its stake in shares of Materion by 28.0% in the 2nd quarter. State Street Corp now owns 1,298,956 shares of the basic materials company’s stock valued at $103,098,000 after purchasing an additional 283,998 shares during the last quarter. American Century Companies Inc. increased its position in shares of Materion by 222.3% during the 2nd quarter. American Century Companies Inc. now owns 238,418 shares of the basic materials company’s stock valued at $18,923,000 after purchasing an additional 164,433 shares during the last quarter. Nuveen LLC purchased a new stake in Materion during the 1st quarter valued at $9,707,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Materion by 41.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 289,106 shares of the basic materials company’s stock worth $23,592,000 after buying an additional 84,482 shares during the last quarter. Finally, Copeland Capital Management LLC boosted its stake in Materion by 16.0% during the second quarter. Copeland Capital Management LLC now owns 465,746 shares of the basic materials company’s stock worth $36,966,000 after buying an additional 64,289 shares during the period. 93.56% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Wall Street Zen downgraded shares of Materion from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Materion in a report on Wednesday, October 8th. Finally, Zacks Research lowered shares of Materion from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $117.00.

Insider Buying and Selling at Materion

In related news, VP Gregory R. Chemnitz sold 864 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $113.23, for a total value of $97,830.72. Following the completion of the sale, the vice president owned 10,376 shares in the company, valued at approximately $1,174,874.48. The trade was a 7.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.60% of the company’s stock.

Materion Stock Down 1.4%

NYSE:MTRN opened at $126.06 on Tuesday. The company has a market cap of $2.61 billion, a price-to-earnings ratio of 132.69 and a beta of 0.87. Materion Corporation has a twelve month low of $69.10 and a twelve month high of $135.33. The company has a current ratio of 3.29, a quick ratio of 1.31 and a debt-to-equity ratio of 0.49. The stock has a fifty day simple moving average of $122.48 and a 200-day simple moving average of $107.58.

Materion (NYSE:MTRN) last posted its quarterly earnings results on Wednesday, March 22nd. The basic materials company reported $1.03 EPS for the quarter. The firm had revenue of $230.20 million for the quarter. Materion had a net margin of 1.12% and a return on equity of 12.66%. Analysts anticipate that Materion Corporation will post 5.5 EPS for the current year.

Materion Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Thursday, November 13th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.4%. Materion’s dividend payout ratio (DPR) is 58.95%.

About Materion

Materion Corporation, together with its subsidiaries, produces advanced engineered materials used in semiconductor, industrial, aerospace and defense, automotive, energy, consumer electronics, and telecom and data center in the United States, Asia, Europe, and internationally. The company operates in four segments: Performance Materials, Electronic Materials, Precision Optics, and Other.