Materion Corporation (MTRN) Director Sells $570,903.23 in Stock
Materion Corporation (NYSE:MTRN) Director N Mohan Reddy sold 11,393 shares of Materion Corporation stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $50.11, for a total transaction of $570,903.23. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Shares of Materion Corporation (NYSE:MTRN) traded down $0.55 during midday trading on Friday, reaching $49.95. 97,717 shares of the company’s stock traded hands, compared to its average volume of 97,343. The firm has a market cap of $1.00 billion, a price-to-earnings ratio of 33.52 and a beta of 1.11.
Materion Corporation (NYSE:MTRN) last posted its earnings results on Thursday, October 26th. The basic materials company reported $0.50 earnings per share (EPS) for the quarter, beating the 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 firm had revenue of $294.27 million during the quarter, compared to analysts’ expectations of $290.96 million. During the same period in the previous year, the business posted $0.46 EPS. The business’s revenue was up 17.9% compared to the same quarter last year. equities research analysts forecast that Materion Corporation will post 1.6 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 8th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend is Tuesday, November 7th. Materion Corporation’s dividend payout ratio is currently 30.77%.
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Several institutional investors and hedge funds have recently bought and sold shares of MTRN. SG Americas Securities LLC acquired a new position in shares of Materion Corporation in the 1st quarter valued at $115,000. Victory Capital Management Inc. lifted its stake in shares of Materion Corporation by 50.5% in the 1st quarter. Victory Capital Management Inc. now owns 3,789 shares of the basic materials company’s stock valued at $127,000 after purchasing an additional 1,271 shares during the period. State of Alaska Department of Revenue lifted its stake in shares of Materion Corporation by 79.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 3,949 shares of the basic materials company’s stock valued at $147,000 after purchasing an additional 1,749 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Materion Corporation by 1.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,096 shares of the basic materials company’s stock valued at $171,000 after purchasing an additional 96 shares during the period. Finally, KCG Holdings Inc. acquired a new position in shares of Materion Corporation in the 1st quarter valued at $245,000. Hedge funds and other institutional investors own 90.79% of the company’s stock.
Several analysts have commented on the stock. BidaskClub upgraded shares of Materion Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday. Jefferies Group LLC restated a “hold” rating and set a $36.00 price objective on shares of Materion Corporation in a research note on Thursday, October 12th. Finally, Zacks Investment Research upgraded shares of Materion Corporation from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research note on Wednesday, September 27th.
Materion Corporation 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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