Materion Co. (NYSE:MTRN) Shares Sold by Arizona State Retirement System

Arizona State Retirement System lowered its stake in Materion Co. (NYSE:MTRN) by 1.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 5,770 shares of the basic materials company’s stock after selling 97 shares during the quarter. Arizona State Retirement System’s holdings in Materion were worth $751,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in MTRN. American Century Companies Inc. acquired a new stake in Materion in the 1st quarter valued at $392,000. Citigroup Inc. boosted its stake in Materion by 11.8% during the 1st quarter. Citigroup Inc. now owns 17,656 shares of the basic materials company’s stock worth $1,514,000 after purchasing an additional 1,861 shares during the last quarter. Bank of Montreal Can boosted its stake in Materion by 7.5% during the 1st quarter. Bank of Montreal Can now owns 7,835 shares of the basic materials company’s stock worth $682,000 after purchasing an additional 544 shares during the last quarter. MetLife Investment Management LLC boosted its stake in Materion by 50.4% during the 1st quarter. MetLife Investment Management LLC now owns 11,008 shares of the basic materials company’s stock worth $944,000 after purchasing an additional 3,687 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in Materion by 2.6% during the 1st quarter. Rhumbline Advisers now owns 61,589 shares of the basic materials company’s stock worth $5,281,000 after purchasing an additional 1,545 shares during the last quarter. Institutional investors and hedge funds own 93.56% of the company’s stock.

Materion Trading Down 0.9 %

Shares of MTRN stock opened at $119.75 on Friday. The company’s 50-day moving average price is $129.91 and its 200-day moving average price is $119.07. The company has a current ratio of 2.78, a quick ratio of 1.05 and a debt-to-equity ratio of 0.45. The stock has a market cap of $2.48 billion, a price-to-earnings ratio of 26.15 and a beta of 1.14. Materion Co. has a twelve month low of $92.23 and a twelve month high of $145.08.

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

Materion Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Thursday, February 22nd were issued a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $0.52 annualized dividend and a yield of 0.43%. Materion’s dividend payout ratio (DPR) is currently 11.35%.

Wall Street Analyst Weigh In

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

Insider Activity at Materion

In related news, CFO Shelly Marie Chadwick sold 2,000 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $132.60, for a total value of $265,200.00. Following the sale, the chief financial officer now directly owns 13,147 shares in the company, valued at approximately $1,743,292.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Materion news, CFO Shelly Marie Chadwick sold 2,000 shares of the business’s 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 sale, the chief financial officer now directly owns 13,147 shares in the company, valued at $1,743,292.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Gregory R. Chemnitz sold 3,000 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $133.74, for a total transaction of $401,220.00. Following the sale, the vice president now owns 14,510 shares in the company, valued at $1,940,567.40. The disclosure for this sale can be found here. 2.30% of the stock is owned by insiders.

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.