abrdn plc Sells 27,359 Shares of Materion Co. (NYSE:MTRN)

abrdn plc reduced its stake in shares of Materion Co. (NYSE:MTRN) by 11.8% in the fourth quarter, Holdings Channel reports. The firm owned 204,272 shares of the basic materials company’s stock after selling 27,359 shares during the period. abrdn plc’s holdings in Materion were worth $26,582,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in MTRN. CENTRAL TRUST Co boosted its stake in shares of Materion by 529.0% during the fourth quarter. CENTRAL TRUST Co now owns 195 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 164 shares during the period. Anchor Investment Management LLC purchased a new stake in Materion in the fourth quarter worth about $137,000. AdvisorNet Financial Inc lifted its stake in Materion by 189.6% in the fourth quarter. AdvisorNet Financial Inc now owns 1,222 shares of the basic materials company’s stock worth $159,000 after acquiring an additional 800 shares during the period. Cullen Frost Bankers Inc. purchased a new stake in Materion in the third quarter worth about $191,000. Finally, Wetzel Investment Advisors Inc. purchased a new stake in Materion in the fourth quarter worth about $195,000. 93.56% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Materion

In other Materion news, CFO Shelly Marie Chadwick sold 2,000 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $132.60, for a total transaction of $265,200.00. Following the completion of the sale, the chief financial officer now directly owns 13,147 shares of the company’s stock, valued at $1,743,292.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, VP Gregory R. Chemnitz sold 3,000 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $133.74, for a total value of $401,220.00. Following the transaction, the vice president now owns 14,510 shares in the company, valued at approximately $1,940,567.40. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Shelly Marie Chadwick sold 2,000 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $132.60, for a total transaction of $265,200.00. Following the completion of the transaction, the chief financial officer now owns 13,147 shares in the company, valued at approximately $1,743,292.20. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Materion Stock Up 2.0 %

NYSE:MTRN opened at $119.89 on Wednesday. The firm has a market cap of $2.49 billion, a PE ratio of 26.18 and a beta of 1.14. The company has a 50-day moving average of $129.62 and a 200 day moving average of $119.65. Materion Co. has a 1-year low of $92.23 and a 1-year high of $145.08. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.78 and a quick ratio of 1.05.

Materion (NYSE:MTRN) last released its quarterly earnings results on Thursday, February 15th. The basic materials company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.38 by $0.03. The business had revenue of $421.00 million during the quarter, compared to analyst estimates of $420.50 million. Materion had a net margin of 5.75% and a return on equity of 13.49%. The company’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.49 earnings per share. As a group, research analysts anticipate that Materion Co. will post 6.03 EPS for the current fiscal year.

Materion Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Thursday, February 22nd were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.43%. The ex-dividend date was Wednesday, February 21st. Materion’s payout ratio is 11.35%.

Analyst Upgrades and Downgrades

Separately, KeyCorp lowered their price objective on shares of Materion from $157.00 to $156.00 and set an “overweight” rating for the company in a research note on Monday, April 1st.

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.