Materion Corp (MTRN) Holdings Cut by NWQ Investment Management Company LLC

NWQ Investment Management Company LLC lessened its stake in shares of Materion Corp (NYSE:MTRN) by 15.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,175,832 shares of the basic materials company’s stock after selling 217,792 shares during the period. NWQ Investment Management Company LLC owned about 5.87% of Materion worth $50,737,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC acquired a new position in shares of Materion in the 3rd quarter valued at about $128,000. State of Alaska Department of Revenue increased its holdings in shares of Materion 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. Victory Capital Management Inc. increased its holdings in shares of Materion by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 4,458 shares of the basic materials company’s stock valued at $167,000 after purchasing an additional 669 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Materion by 0.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 5,130 shares of the basic materials company’s stock valued at $193,000 after purchasing an additional 34 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Materion in the 3rd quarter valued at about $205,000. Hedge funds and other institutional investors own 90.02% of the company’s stock.

MTRN has been the topic of a number of research reports. BidaskClub downgraded Materion from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 10th. Zacks Investment Research upgraded Materion from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a report on Wednesday, September 27th. Jefferies Group reiterated a “hold” rating and issued a $36.00 target price on shares of Materion in a report on Thursday, October 12th. KeyCorp reiterated a “hold” rating on shares of Materion in a report on Monday, November 13th. Finally, ValuEngine downgraded Materion from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Materion has a consensus rating of “Hold” and an average price target of $39.50.

In related news, VP Gregory R. Chemnitz sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $49.60, for a total value of $148,800.00. Following the completion of the sale, the vice president now owns 13,061 shares of the company’s stock, valued at approximately $647,825.60. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Gregory R. Chemnitz sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $50.16, for a total value of $200,640.00. Following the completion of the sale, the vice president now directly owns 13,245 shares of the company’s stock, valued at approximately $664,369.20. The disclosure for this sale can be found here. In the last three months, insiders sold 48,470 shares of company stock valued at $2,420,896. 2.90% of the stock is currently owned by company insiders.

Shares of Materion Corp (NYSE MTRN) traded down $0.80 during midday trading on Thursday, hitting $47.80. The company had a trading volume of 59,900 shares, compared to its average volume of 91,540. The company has a market cap of $974.11, a PE ratio of 32.62 and a beta of 1.07. Materion Corp has a 1-year low of $31.05 and a 1-year high of $52.10. The company has a current ratio of 3.42, a quick ratio of 1.48 and a debt-to-equity ratio of 0.01.

Materion (NYSE:MTRN) last announced its quarterly earnings results on Thursday, October 26th. The basic materials company reported $0.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.10. The business had revenue of $294.27 million during the quarter, compared to analysts’ expectations of $290.96 million. Materion had a return on equity of 6.08% and a net margin of 2.48%. The firm’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.46 EPS. analysts predict that Materion Corp will post 1.6 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Wednesday, November 8th were paid a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, November 7th. This represents a $0.40 annualized dividend and a dividend yield of 0.84%. Materion’s payout ratio is 30.77%.

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Materion 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.

Institutional Ownership by Quarter for Materion (NYSE:MTRN)

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