6,844 Materion Corporation $MTRN Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp trimmed its holdings in Materion Corporation (NYSE:MTRN) by 12.8% in the third quarter, HoldingsChannel reports. The fund owned 46,617 shares of the basic materials company’s stock after selling 6,844 shares during the period. King Luther Capital Management Corp’s holdings in Materion were worth $12,567,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Maryland State Retirement & Pension System raised its position in Materion by 52.8% in the 3rd quarter. Maryland State Retirement & Pension System now owns 4,632 shares of the basic materials company’s stock worth $1,249,000 after purchasing an additional 1,600 shares during the period. ProShare Advisors LLC boosted its position in Materion by 40.0% during the third quarter. ProShare Advisors LLC now owns 42,131 shares of the basic materials company’s stock valued at $11,358,000 after buying an additional 12,042 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al boosted its position in Materion by 48.9% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 6,700 shares of the basic materials company’s stock valued at $1,806,000 after buying an additional 2,200 shares during the period. Choreo LLC grew its stake in shares of Materion by 10.2% during the third quarter. Choreo LLC now owns 1,320 shares of the basic materials company’s stock valued at $356,000 after buying an additional 122 shares during the last quarter. Finally, EULAV Asset Management bought a new position in shares of Materion during the third quarter valued at about $2,399,000. Hedge funds and other institutional investors own 93.56% of the company’s stock.

Materion Price Performance

Shares of Materion stock opened at $207.74 on Friday. The firm has a market cap of $4.33 billion, a PE ratio of 42.57 and a beta of 1.10. Materion Corporation has a 12-month low of $110.69 and a 12-month high of $324.98. The company has a quick ratio of 1.22, a current ratio of 2.81 and a debt-to-equity ratio of 0.38. The company’s fifty day simple moving average is $246.92 and its two-hundred day simple moving average is $214.10.

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

Materion Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have recently commented on MTRN. Zacks Research downgraded Materion from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. Wall Street Zen upgraded Materion from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Weiss Ratings lowered Materion from a “buy (b-)” rating to a “hold (c)” rating in a research report on Thursday, October 29th. Jefferies Financial Group started coverage on Materion in a research report on Wednesday, September 2nd. They set a “buy” rating and a $314.00 price target on the stock. Finally, Seaport Research Partners raised Materion from a “neutral” rating to a “buy” rating and set a $250.00 price target on the stock in a research note on Thursday, November 5th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Materion has an average rating of “Moderate Buy” and an average target price of $273.00.

Insider Transactions at Materion

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

About Materion

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.