Brandywine Global Investment Management LLC decreased its holdings in shares of Materion Corporation (NYSE:MTRN) by 1.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,794 shares of the basic materials company’s stock after selling 136 shares during the period. Brandywine Global Investment Management LLC owned approximately 0.05% of Materion Corporation worth $404,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MTRN. Citadel Advisors LLC grew its holdings in shares of Materion Corporation by 14.2% in the 2nd quarter. Citadel Advisors LLC now owns 98,561 shares of the basic materials company’s stock worth $3,686,000 after acquiring an additional 12,236 shares during the period. Vanguard Group Inc. grew its holdings in shares of Materion Corporation by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 1,905,636 shares of the basic materials company’s stock worth $71,271,000 after acquiring an additional 25,885 shares during the period. Northern Trust Corp grew its holdings in shares of Materion Corporation by 3.9% in the 2nd 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 period. UBS Asset Management Americas Inc. acquired a new stake in shares of Materion Corporation in the 2nd quarter worth approximately $280,000. Finally, Thrivent Financial For Lutherans grew its holdings in shares of Materion Corporation by 0.6% in the 2nd quarter. Thrivent Financial For Lutherans now owns 244,970 shares of the basic materials company’s stock worth $9,162,000 after acquiring an additional 1,340 shares during the period. Institutional investors own 90.81% of the company’s stock.
In related news, VP Gregory R. Chemnitz sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $38.29, for a total transaction of $114,870.00. Following the sale, the vice president now owns 18,052 shares of the company’s stock, valued at $691,211.08. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.90% of the stock is owned by insiders.
MTRN has been the topic of a number of research reports. Zacks Investment Research upgraded Materion Corporation from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a report on Wednesday, September 27th. BidaskClub upgraded Materion Corporation from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 2nd. Finally, Jefferies Group LLC restated a “hold” rating and issued a $34.00 price target on shares of Materion Corporation in a report on Friday, July 7th.
Shares of Materion Corporation (NYSE:MTRN) opened at 43.00 on Wednesday. The company has a 50 day moving average price of $39.76 and a 200-day moving average price of $37.00. The firm has a market cap of $861.63 million, a PE ratio of 34.71 and a beta of 1.14. Materion Corporation has a 12-month low of $28.50 and a 12-month high of $44.80.
Materion Corporation (NYSE:MTRN) last announced its earnings results on Thursday, July 27th. The basic materials company reported $0.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.02. Materion Corporation had a return on equity of 5.96% and a net margin of 2.47%. The firm had revenue of $295.80 million for the quarter, compared to analysts’ expectations of $254.28 million. During the same quarter in the previous year, the company earned $0.31 earnings per share. The firm’s quarterly revenue was up 18.4% compared to the same quarter last year. Analysts expect that Materion Corporation will post $1.52 EPS for the current year.
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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