Materion Corporation $MTRN Stock: Mawer Investment Management Ltd. Increases Stake

Mawer Investment Management Ltd. grew its stake in shares of Materion Corporation (NYSE:MTRN) by 9.6% in the third quarter, HoldingsChannel.com reports. The firm owned 29,440 shares of the basic materials company’s stock after buying an additional 2,568 shares during the quarter. Mawer Investment Management Ltd.’s holdings in Materion were worth $7,937,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Harbor Investment Advisory LLC bought a new position in shares of Materion in the second quarter worth approximately $32,000. Polaris Financial Partners purchased a new position in shares of Materion in the third quarter worth $36,000. Root Financial Partners LLC bought a new stake in Materion during the 3rd quarter valued at $38,000. Allworth Financial LP bought a new stake in Materion during the 2nd quarter valued at $52,000. Finally, EverSource Wealth Advisors LLC raised its holdings in Materion by 22.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 395 shares of the basic materials company’s stock valued at $57,000 after buying an additional 72 shares during the last quarter. Institutional investors own 93.56% of the company’s stock.

Materion Trading Down 2.1%

Materion stock traded down $4.41 during mid-day trading on Friday, reaching $203.75. 205,768 shares of the company traded hands, compared to its average volume of 239,587. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.81 and a quick ratio of 1.22. The firm’s 50 day moving average price is $246.20 and its 200 day moving average price is $214.44. The firm has a market capitalization of $4.25 billion, a price-to-earnings ratio of 41.75 and a beta of 1.10. Materion Corporation has a 52-week low of $110.69 and a 52-week high of $324.98.

Materion (NYSE:MTRN) last posted its earnings results on Wednesday, November 4th. The basic materials company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.89 by $0.04. Materion had a net margin of 4.64% and a return on equity of 14.23%. The firm had revenue of $313.66 million during the quarter, compared to analysts’ expectations of $611.38 million. During the same period last year, the company posted $1.41 EPS. The company’s quarterly revenue was up 27.5% compared to the same quarter last year. On average, analysts anticipate that Materion Corporation will post 7.27 earnings per share for the current fiscal year.

Materion Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Thursday, November 19th will be given a dividend of $0.1450 per share. The ex-dividend date is Thursday, November 19th. This represents a $0.58 annualized dividend and a dividend yield of 0.3%. Materion’s payout ratio is currently 11.89%.

Insider Transactions at Materion

In related news, Director Vinod Khilnani sold 2,000 shares of the stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $235.16, for a total value of $470,320.00. Following the completion of the transaction, the director directly owned 11,171 shares of the company’s stock, valued at $2,626,972.36. This represents a 15.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Emily Liggett sold 1,012 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $232.42, for a total transaction of $235,209.04. Following the completion of the sale, the director owned 3,161 shares of the company’s stock, valued at $734,679.62. This trade represents a 24.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

MTRN has been the subject of several analyst reports. Zacks Research cut shares of Materion from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Weiss Ratings cut shares of Materion from a “buy (b-)” rating to a “hold (c)” rating in a research report on Thursday, October 29th. Jefferies Financial Group initiated coverage on shares of Materion in a research report on Wednesday, September 2nd. They issued a “buy” rating and a $314.00 price objective on the stock. KeyCorp lowered their price objective on shares of Materion from $306.00 to $232.00 and set an “overweight” rating for the company in a research note on Thursday, November 5th. Finally, Wall Street Zen upgraded shares of Materion from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $273.00.

Materion Company Profile

Materion Corporation is a specialty materials company that develops and manufactures advanced engineered materials and related services. Its products include beryllium and beryllium alloys, other engineered metals, and materials used in thin-film deposition and other high-performance applications. The company’s materials serve customers in markets such as semiconductors, aerospace and defense, telecommunications, automotive, consumer electronics, and industrial manufacturing. Materion also provides services including materials processing, recycling, and technical support.