Heartland Advisors Inc. decreased its position in Materion Corp. (NYSE:MTRN) by 53.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 320,435 shares of the company’s stock after selling 371,150 shares during the period. Heartland Advisors Inc. owned approximately 1.61% of Materion Corp. worth $9,841,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of the company. Nordea Investment Management AB bought a new stake in shares of Materion Corp. during the second quarter valued at approximately $612,000. Cambridge Investment Research Advisors Inc. increased its position in shares of Materion Corp. by 28.1% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 19,221 shares of the company’s stock worth $476,000 after buying an additional 4,218 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of Materion Corp. by 11.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 135,178 shares of the company’s stock worth $3,348,000 after buying an additional 14,399 shares in the last quarter. Swiss National Bank increased its position in shares of Materion Corp. by 5.9% in the second quarter. Swiss National Bank now owns 34,300 shares of the company’s stock worth $849,000 after buying an additional 1,900 shares in the last quarter. Finally, Gamco Investors INC. ET AL increased its position in shares of Materion Corp. by 4.5% in the second quarter. Gamco Investors INC. ET AL now owns 813,900 shares of the company’s stock worth $20,152,000 after buying an additional 35,200 shares in the last quarter. Institutional investors own 93.22% of the company’s stock.
Shares of Materion Corp. (NYSE:MTRN) traded down 0.26% during midday trading on Friday, hitting $38.85. 31,418 shares of the company traded hands. The company has a 50-day moving average price of $32.28 and a 200-day moving average price of $28.23. Materion Corp. has a 52 week low of $20.62 and a 52 week high of $39.40. The stock has a market capitalization of $774.55 million, a P/E ratio of 30.38 and a beta of 1.29.
Materion Corp. (NYSE:MTRN) last released its quarterly earnings data on Thursday, October 27th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.10. The company earned $249.60 million during the quarter, compared to analysts’ expectations of $252.86 million. Materion Corp. had a net margin of 2.71% and a return on equity of 5.72%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.40 EPS. Analysts anticipate that Materion Corp. will post $1.36 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 24th. Shareholders of record on Thursday, November 10th were given a $0.095 dividend. The ex-dividend date was Tuesday, November 8th. This represents a $0.38 annualized dividend and a yield of 0.98%. Materion Corp.’s dividend payout ratio (DPR) is 29.92%.
A number of equities analysts have weighed in on the stock. Jefferies Group reaffirmed a “hold” rating on shares of Materion Corp. in a research note on Saturday, October 1st. Zacks Investment Research downgraded shares of Materion Corp. from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 1st. Wm Smith assumed coverage on shares of Materion Corp. in a research note on Thursday, November 3rd. They set a “not rated” rating and a $35.00 target price for the company. Finally, TheStreet raised shares of Materion Corp. from a “hold” rating to a “buy” rating in a research note on Thursday, August 18th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $31.33.
About Materion Corp.