Insider Selling: Materion Corp (MTRN) VP Sells 4,000 Shares of Stock
Materion Corp (NYSE:MTRN) VP Gregory R. Chemnitz sold 4,000 shares of the business’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $50.16, for a total transaction of $200,640.00. Following the sale, the vice president now owns 13,245 shares of the company’s stock, valued at $664,369.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Shares of Materion Corp (MTRN) traded down $0.55 on Friday, reaching $49.95. 97,717 shares of the company’s stock were exchanged, compared to its average volume of 97,343. The firm has a market cap of $1.00 billion, a PE ratio of 33.52 and a beta of 1.11.
Materion Corp (NYSE:MTRN) last issued its quarterly earnings data on Thursday, October 26th. The basic materials company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.10. Materion Corp had a net margin of 3.17% and a return on equity of 7.37%. The firm had revenue of $294.27 million during the quarter, compared to the consensus estimate of $290.96 million. During the same quarter in the previous year, the firm posted $0.46 EPS. The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. analysts forecast that Materion Corp will post 1.6 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 8th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend is Tuesday, November 7th. Materion Corp’s payout ratio is 30.77%.
Several hedge funds have recently modified their holdings of the company. BlackRock Inc. grew its position in shares of Materion Corp by 12,689.6% during the 1st quarter. BlackRock Inc. now owns 2,645,014 shares of the basic materials company’s stock valued at $88,740,000 after acquiring an additional 2,624,333 shares during the period. Vanguard Group Inc. grew its position in shares of Materion Corp by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 1,905,636 shares of the basic materials company’s stock valued at $71,271,000 after acquiring an additional 25,885 shares during the period. Northern Trust Corp grew its position in shares of Materion Corp by 3.9% during the 2nd quarter. Northern Trust Corp now owns 926,420 shares of the basic materials company’s stock valued at $34,648,000 after acquiring an additional 34,481 shares during the period. State Street Corp grew its position in shares of Materion Corp by 4.2% during the 2nd quarter. State Street Corp now owns 672,956 shares of the basic materials company’s stock valued at $25,167,000 after acquiring an additional 26,973 shares during the period. Finally, Ameriprise Financial Inc. grew its position in shares of Materion Corp by 3.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 672,553 shares of the basic materials company’s stock valued at $25,153,000 after acquiring an additional 22,566 shares during the period. 90.79% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have weighed in on MTRN shares. Jefferies Group LLC reiterated a “hold” rating and set a $34.00 target price on shares of Materion Corp in a research note on Friday, July 7th. BidaskClub upgraded shares of Materion Corp from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 2nd. Finally, Zacks Investment Research upgraded shares of Materion Corp from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research note on Wednesday, September 27th.
Materion Corp Company Profile
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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