Trade Report: The State Board of Administration of Florida Retirement System Sold shares of Materion Corp. (MTRN)

The State Board of Administration of Florida Retirement System Sold shares of Materion Corp. (MTRN)

State Board of Administration of Florida Retirement System lowered its position in Materion Corp. (NYSE:MTRN) by 5.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,110 shares of the company’s stock after selling 589 shares during the period. State Board of Administration of Florida Retirement System owned about 0.05% of Materion Corp. worth $250,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Nisa Investment Advisors L.L.C. increased its stake in shares of Materion Corp. by 7.0% in the first quarter. Nisa Investment Advisors L.L.C. now owns 23,000 shares of the company’s stock valued at $609,000 after buying an additional 1,500 shares in the last quarter. Prudential Financial Inc. increased its stake in shares of Materion Corp. by 43.1% in the first quarter. Prudential Financial Inc. now owns 66,741 shares of the company’s stock valued at $1,767,000 after buying an additional 20,100 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Materion Corp. by 75.3% in the first quarter. Franklin Resources Inc. now owns 149,000 shares of the company’s stock valued at $3,946,000 after buying an additional 64,000 shares in the last quarter. BlackRock Inc. increased its stake in shares of Materion Corp. by 42.8% in the first quarter. BlackRock Inc. now owns 11,627 shares of the company’s stock valued at $308,000 after buying an additional 3,482 shares in the last quarter. Finally, BlackRock Fund Advisors increased its stake in shares of Materion Corp. by 0.9% in the first quarter. BlackRock Fund Advisors now owns 1,258,851 shares of the company’s stock valued at $33,334,000 after buying an additional 11,816 shares in the last quarter. Institutional investors own 90.73% of the company’s stock.

Materion Corp. (NYSE:MTRN) traded up 0.68% during trading on Monday, reaching $29.75. The company had a trading volume of 8,623 shares. Materion Corp. has a 52-week low of $20.62 and a 52-week high of $33.62. The stock has a market cap of $594.02 million, a PE ratio of 23.99 and a beta of 1.35. The company has a 50-day moving average price of $30.10 and a 200 day moving average price of $27.11.

Materion Corp. (NYSE:MTRN) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.02. Materion Corp. had a return on equity of 5.55% and a net margin of 2.60%. The company had revenue of $249.80 million for the quarter, compared to analysts’ expectations of $235.29 million. During the same period last year, the firm earned $0.43 EPS. The firm’s revenue for the quarter was down 9.8% on a year-over-year basis. On average, analysts anticipate that Materion Corp. will post $1.34 earnings per share for the current year.

Several research firms recently commented on MTRN. Zacks Investment Research lowered Materion Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 5th. TheStreet upgraded Materion Corp. from a “hold” rating to a “buy” rating in a research note on Thursday, August 18th. Finally, Jefferies Group reiterated a “hold” rating on shares of Materion Corp. in a research note on Saturday, October 1st.

Materion Corp. Company Profile

Materion Corporation is a holding company. The Company is an integrated producer of engineered materials used in a range of electrical, electronic, thermal and structural applications. The Company’s products are sold in markets, including consumer electronics, industrial components, medical, automotive electronics, energy, telecommunications infrastructure, defense and commercial aerospace.

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