Sterling Capital Management LLC acquired a new stake in shares of Materion Corp (NYSE:MTRN) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 18,732 shares of the basic materials company’s stock, valued at approximately $1,133,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Paloma Partners Management Co raised its position in Materion by 27.4% during the second quarter. Paloma Partners Management Co now owns 6,508 shares of the basic materials company’s stock valued at $352,000 after purchasing an additional 1,401 shares in the last quarter. Citadel Advisors LLC raised its position in Materion by 205.5% during the second quarter. Citadel Advisors LLC now owns 139,926 shares of the basic materials company’s stock valued at $7,577,000 after purchasing an additional 94,121 shares in the last quarter. KBC Group NV acquired a new position in Materion during the second quarter valued at approximately $321,000. Northern Trust Corp raised its position in Materion by 2.8% during the second quarter. Northern Trust Corp now owns 906,794 shares of the basic materials company’s stock valued at $49,103,000 after purchasing an additional 24,404 shares in the last quarter. Finally, Wells Fargo & Company MN increased 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 buying an additional 20,183 shares in the last quarter. Institutional investors and hedge funds own 89.70% of the company’s stock.
Shares of NYSE:MTRN opened at $56.51 on Friday. The firm has a market cap of $1.19 billion, a PE ratio of 26.25 and a beta of 1.03. 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 52-week low of $44.95 and a 52-week high of $65.10.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Thursday, November 8th will be issued a dividend of $0.105 per share. The ex-dividend date of this dividend is Wednesday, November 7th. This represents a $0.42 annualized dividend and a dividend yield of 0.74%. Materion’s dividend payout ratio (DPR) is presently 24.42%.
In other news, VP Gregory R. Chemnitz sold 4,000 shares of the company’s stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $57.50, for a total transaction of $230,000.00. Following the completion of the transaction, the vice president now directly owns 8,523 shares in the company, valued at $490,072.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.90% of the stock is currently owned by corporate insiders.
Separately, Zacks Investment Research upgraded shares of Materion from a “hold” rating to a “strong-buy” rating and set a $67.00 price target for the company in a report on Tuesday, October 30th. Two equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $57.50.
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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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