Northern Trust Corp boosted its holdings in Materion Corp (NYSE:MTRN) by 2.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 906,794 shares of the basic materials company’s stock after buying an additional 24,404 shares during the period. Northern Trust Corp owned approximately 4.48% of Materion worth $49,103,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of MTRN. BlackRock Inc. grew its holdings in shares of Materion by 7.6% during the 2nd quarter. BlackRock Inc. now owns 2,923,599 shares of the basic materials company’s stock worth $158,313,000 after purchasing an additional 206,358 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of Materion by 2.3% during the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 705,545 shares of the basic materials company’s stock worth $36,017,000 after purchasing an additional 15,530 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of Materion by 15.8% during the 2nd quarter. Acadian Asset Management LLC now owns 635,086 shares of the basic materials company’s stock worth $34,392,000 after purchasing an additional 86,607 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Materion by 4.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 322,991 shares of the basic materials company’s stock worth $17,490,000 after purchasing an additional 12,600 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of Materion by 9.6% during the 2nd quarter. Wells Fargo & Company MN now owns 230,252 shares of the basic materials company’s stock worth $12,469,000 after purchasing an additional 20,183 shares in the last quarter. 89.49% of the stock is currently owned by institutional investors.
Shares of NYSE:MTRN opened at $55.38 on Friday. Materion Corp has a 1-year low of $42.10 and a 1-year high of $65.10. The company has a market cap of $1.22 billion, a PE ratio of 32.20 and a beta of 0.94. The company has a current ratio of 3.48, a quick ratio of 1.69 and a debt-to-equity ratio of 0.04.
Materion (NYSE:MTRN) last announced its quarterly earnings data on Thursday, July 26th. The basic materials company reported $0.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.03. Materion had a return on equity of 8.30% and a net margin of 1.88%. The company had revenue of $309.10 million for the quarter, compared to analyst estimates of $311.90 million. During the same quarter last year, the firm earned $0.42 EPS. Materion’s revenue for the quarter was up 4.5% compared to the same quarter last year. Research analysts expect that Materion Corp will post 2.14 EPS for the current year.
Several brokerages have recently weighed in on MTRN. Zacks Investment Research raised Materion from a “hold” rating to a “buy” rating and set a $69.00 price objective on the stock in a report on Tuesday, July 31st. ValuEngine lowered Materion from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 21st. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Materion currently has an average rating of “Buy” and a consensus target price of $58.50.
In other news, VP Gregory R. Chemnitz sold 2,000 shares of Materion stock in a transaction that occurred on Friday, August 3rd. The stock was sold at an average price of $63.31, for a total transaction of $126,620.00. Following the sale, the vice president now owns 12,523 shares of the company’s stock, valued at approximately $792,831.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Joseph P. Kelley acquired 2,923 shares of the firm’s stock in a transaction dated Wednesday, August 8th. The shares were purchased at an average cost of $63.74 per share, for a total transaction of $186,312.02. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by company insiders.
Materion Corporation manufactures and sells advanced engineered materials used in consumer electronics, industrial components, defense, medical, automotive electronics, telecommunications infrastructure, energy, commercial aerospace, science, services, and appliance markets worldwide. The company operates through Performance Alloys and Composites, Advanced Materials, and Precision Coatings segments.
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