Insider Selling: Materion Corporation (MTRN) VP Sells 3,000 Shares of Stock
Materion Corporation (NYSE:MTRN) VP Gregory R. Chemnitz sold 3,000 shares of the firm’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $49.60, for a total transaction of $148,800.00. Following the completion of the transaction, the vice president now directly owns 13,061 shares of the company’s stock, valued at $647,825.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
Shares of Materion Corporation (NYSE MTRN) traded up 0.88% on Tuesday, reaching $51.35. 162,516 shares of the company’s stock traded hands. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 41.44 and a beta of 1.14. The firm’s 50-day moving average is $42.07 and its 200-day moving average is $38.08. Materion Corporation has a 52-week low of $29.50 and a 52-week high of $51.85.
Materion Corporation (NYSE:MTRN) last posted its quarterly earnings results on Thursday, October 26th. The basic materials company reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.10. Materion Corporation had a net margin of 2.48% and a return on equity of 6.08%. The business had revenue of $294.27 million during the quarter, compared to analyst estimates of $290.96 million. During the same period in the prior year, the business posted $0.46 earnings per share. The company’s revenue was up 17.9% on a year-over-year basis. Analysts anticipate that Materion Corporation will post $1.58 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 8th will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, November 7th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.78%. Materion Corporation’s dividend payout ratio is 30.77%.
Several large investors have recently modified their holdings of MTRN. BlackRock Inc. boosted its position in shares of Materion Corporation by 12,689.6% during the first quarter. BlackRock Inc. now owns 2,645,014 shares of the basic materials company’s stock worth $88,740,000 after acquiring an additional 2,624,333 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Materion Corporation by 6.1% during the first quarter. Vanguard Group Inc. now owns 1,879,751 shares of the basic materials company’s stock worth $63,066,000 after acquiring an additional 108,041 shares during the last quarter. Bank of Montreal Can bought a new position in shares of Materion Corporation during the second quarter worth $1,944,000. AQR Capital Management LLC boosted its position in shares of Materion Corporation by 30.0% during the first quarter. AQR Capital Management LLC now owns 206,380 shares of the basic materials company’s stock worth $6,924,000 after acquiring an additional 47,605 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of Materion Corporation by 3.9% during the second quarter. Northern Trust Corp now owns 926,420 shares of the basic materials company’s stock worth $34,648,000 after acquiring an additional 34,481 shares during the last quarter. Hedge funds and other institutional investors own 90.79% of the company’s stock.
Several research analysts have commented on MTRN shares. Zacks Investment Research downgraded shares of Materion Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. Jefferies Group LLC reissued a “hold” rating and issued a $34.00 price target on shares of Materion Corporation in a report on Friday, July 7th. Finally, BidaskClub raised shares of Materion Corporation from a “hold” rating to a “buy” rating in a report on Thursday, September 28th.
About Materion Corporation
Materion Corporation, through its subsidiaries, is an integrated producer of engineered materials used in a range of electrical, electronic, thermal, and structural applications. The Company operates in four segments: Performance Alloys and Composites, Advanced Materials, Precision Coatings, and Other.
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