ProShare Advisors LLC Cuts Stake in Materion Corporation $MTRN

ProShare Advisors LLC lessened its holdings in shares of Materion Corporation (NYSE:MTRN) by 5.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 79,613 shares of the basic materials company’s stock after selling 4,991 shares during the quarter. ProShare Advisors LLC’s holdings in Materion were worth $6,319,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Teacher Retirement System of Texas bought a new stake in shares of Materion during the first quarter valued at approximately $248,000. Victory Capital Management Inc. increased its holdings in Materion by 3.2% in the 1st quarter. Victory Capital Management Inc. now owns 8,124 shares of the basic materials company’s stock valued at $663,000 after acquiring an additional 250 shares during the last quarter. Pinnacle Associates Ltd. lifted its stake in Materion by 15.4% in the 1st quarter. Pinnacle Associates Ltd. now owns 10,820 shares of the basic materials company’s stock worth $883,000 after purchasing an additional 1,445 shares in the last quarter. Avantax Advisory Services Inc. boosted its holdings in shares of Materion by 7.8% during the 1st quarter. Avantax Advisory Services Inc. now owns 3,735 shares of the basic materials company’s stock valued at $305,000 after purchasing an additional 271 shares during the last quarter. Finally, Fiera Capital Corp grew its position in shares of Materion by 1.3% during the first quarter. Fiera Capital Corp now owns 37,923 shares of the basic materials company’s stock valued at $3,095,000 after purchasing an additional 504 shares in the last quarter. 93.56% of the stock is owned by hedge funds and other institutional investors.

Materion Trading Down 1.9%

Shares of MTRN stock opened at $117.49 on Friday. The company has a market cap of $2.44 billion, a PE ratio of 123.67 and a beta of 0.91. Materion Corporation has a 1 year low of $69.10 and a 1 year high of $135.33. The stock’s 50 day simple moving average is $120.93 and its two-hundred day simple moving average is $100.67. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.28 and a quick ratio of 1.25.

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

Materion Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Thursday, November 13th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $0.56 annualized dividend and a dividend yield of 0.5%. Materion’s dividend payout ratio is currently 58.95%.

Insider Activity

In other news, VP Gregory R. Chemnitz sold 864 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The shares were 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. This trade represents a 7.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on MTRN. Weiss Ratings reiterated a “hold (c-)” rating on shares of Materion in a research report on Wednesday, October 8th. KeyCorp lifted their price objective on Materion from $115.00 to $117.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 13th. Zacks Research downgraded Materion from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Finally, Wall Street Zen lowered shares of Materion from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $117.00.

Materion Profile

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.