Sterling Capital Management LLC acquired a new position in shares of Materion Corp (NYSE:MTRN) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 18,732 shares of the basic materials company’s stock, valued at approximately $1,133,000. Sterling Capital Management LLC owned 0.09% of Materion as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Paloma Partners Management Co boosted its holdings in shares of Materion by 27.4% during the second quarter. Paloma Partners Management Co now owns 6,508 shares of the basic materials company’s stock worth $352,000 after acquiring an additional 1,401 shares during the period. Citadel Advisors LLC boosted its holdings in shares of Materion by 205.5% during the second quarter. Citadel Advisors LLC now owns 139,926 shares of the basic materials company’s stock worth $7,577,000 after acquiring an additional 94,121 shares during the period. KBC Group NV bought a new stake in shares of Materion during the second quarter worth approximately $321,000. Northern Trust Corp boosted its holdings in shares of Materion by 2.8% during the second quarter. Northern Trust Corp now owns 906,794 shares of the basic materials company’s stock worth $49,103,000 after acquiring an additional 24,404 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in shares of Materion by 9.6% during the second quarter. Wells Fargo & Company MN now owns 230,252 shares of the basic materials company’s stock worth $12,469,000 after acquiring an additional 20,183 shares during the period. Institutional investors own 89.70% of the company’s stock.
NYSE MTRN opened at $56.51 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.22 and a quick ratio of 1.64. Materion Corp has a 1-year low of $44.95 and a 1-year high of $65.10. The company has a market capitalization of $1.19 billion, a PE ratio of 26.25 and a beta of 1.03.
Materion (NYSE:MTRN) last released its quarterly earnings results on Thursday, October 25th. The basic materials company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.13. Materion had a net margin of 2.74% and a return on equity of 8.94%. The company had revenue of $297.19 million during the quarter, compared to the consensus estimate of $307.70 million. On average, sell-side analysts anticipate that Materion Corp will post 2.28 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Thursday, November 8th will be given a $0.105 dividend. The ex-dividend date is Wednesday, November 7th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 0.74%. Materion’s payout ratio is 24.42%.
In other news, VP Gregory R. Chemnitz sold 4,000 shares of Materion stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $57.50, for a total value of $230,000.00. Following the completion of the sale, the vice president now directly owns 8,523 shares in the company, valued at $490,072.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.90% of the stock is currently owned by insiders.
Separately, Zacks Investment Research upgraded shares of Materion from a “hold” rating to a “buy” rating and set a $69.00 price target for the company in a research report on Tuesday, July 31st. Two research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Materion has an average rating of “Buy” and an average target price of $57.50.
Materion Company Profile
Materion Corp. engages in the production of engineered materials used in a variety of electrical, electronic, thermal, and structural applications. The company operates through the following segments: Performance Alloys and Composites, Advanced Materials and Other. The Performance Alloys and Composites segment produces strip and bulk form alloy products, strip metal products with clad inlay and overlay metals, beryllium-based metals, beryllium, and aluminum metal matrix composites, in rod, sheet, foil, and a variety of customized forms, beryllia ceramics, and bulk metallic glass material.
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