Confluence Investment Management LLC Takes $463,000 Position in Materion Co. (NYSE:MTRN)

Confluence Investment Management LLC purchased a new stake in shares of Materion Co. (NYSE:MTRN) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 3,513 shares of the basic materials company’s stock, valued at approximately $463,000.

Other institutional investors have also recently made changes to their positions in the company. Janney Montgomery Scott LLC lifted its holdings in Materion by 13.0% during the 3rd quarter. Janney Montgomery Scott LLC now owns 8,868 shares of the basic materials company’s stock worth $904,000 after purchasing an additional 1,023 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Materion by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 237,752 shares of the basic materials company’s stock worth $24,229,000 after purchasing an additional 3,563 shares in the last quarter. Deutsche Bank AG lifted its holdings in Materion by 12.3% during the 3rd quarter. Deutsche Bank AG now owns 11,613 shares of the basic materials company’s stock worth $1,183,000 after purchasing an additional 1,272 shares in the last quarter. Rhumbline Advisers lifted its holdings in Materion by 0.5% during the 3rd quarter. Rhumbline Advisers now owns 67,071 shares of the basic materials company’s stock worth $6,835,000 after purchasing an additional 347 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in Materion by 28.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 4,844 shares of the basic materials company’s stock worth $494,000 after purchasing an additional 1,074 shares in the last quarter. Hedge funds and other institutional investors own 93.56% of the company’s stock.

Materion Price Performance

Shares of NYSE MTRN opened at $105.84 on Wednesday. The firm has a market capitalization of $2.19 billion, a P/E ratio of 26.53 and a beta of 1.21. The company has a quick ratio of 1.07, a current ratio of 2.91 and a debt-to-equity ratio of 0.50. The stock’s 50-day simple moving average is $114.49 and its two-hundred day simple moving average is $121.88. Materion Co. has a twelve month low of $92.23 and a twelve month high of $145.08.

Materion (NYSE:MTRN) last announced its earnings results on Wednesday, May 1st. The basic materials company reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.02). The business had revenue of $385.29 million during the quarter, compared to the consensus estimate of $386.84 million. Materion had a return on equity of 12.32% and a net margin of 5.19%. Materion’s revenue was down 12.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.34 earnings per share. As a group, equities analysts anticipate that Materion Co. will post 5.84 EPS for the current fiscal year.

Materion Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Thursday, May 23rd were paid a $0.135 dividend. This is a positive change from Materion’s previous quarterly dividend of $0.13. This represents a $0.54 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend was Wednesday, May 22nd. Materion’s dividend payout ratio is currently 13.53%.

Insider Activity

In other news, Director Emily M. Liggett sold 1,152 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $111.86, for a total transaction of $128,862.72. Following the transaction, the director now directly owns 2,621 shares in the company, valued at approximately $293,185.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Gregory R. Chemnitz sold 2,000 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $113.31, for a total transaction of $226,620.00. Following the transaction, the vice president now directly owns 18,031 shares in the company, valued at approximately $2,043,092.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Emily M. Liggett sold 1,152 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $111.86, for a total value of $128,862.72. Following the transaction, the director now owns 2,621 shares in the company, valued at $293,185.06. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, KeyCorp dropped their price objective on Materion from $156.00 to $152.00 and set an “overweight” rating on the stock in a report on Friday, May 10th.

Materion Profile

Materion Corporation, together with its subsidiaries, produces advanced engineered materials used in semiconductor, industrial, aerospace and defense, automotive, energy, consumer electronics, and telecom and data center in the United States, Asia, Europe, and internationally. The company operates in four segments: Performance Materials, Electronic Materials, Precision Optics, and Other.