Meyer Handelman Co. Has $1.04 Million Stock Holdings in Materion Co. (NYSE:MTRN)

Meyer Handelman Co. trimmed its position in Materion Co. (NYSE:MTRN) by 2.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,900 shares of the basic materials company’s stock after selling 200 shares during the period. Meyer Handelman Co.’s holdings in Materion were worth $1,041,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. CENTRAL TRUST Co raised its holdings in Materion by 529.0% during the 4th quarter. CENTRAL TRUST Co now owns 195 shares of the basic materials company’s stock worth $25,000 after buying an additional 164 shares during the period. Quest Partners LLC acquired a new stake in Materion during the 4th quarter worth approximately $44,000. SRS Capital Advisors Inc. raised its holdings in Materion by 285.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 428 shares of the basic materials company’s stock worth $56,000 after buying an additional 317 shares during the period. Anchor Investment Management LLC acquired a new stake in Materion during the 4th quarter worth approximately $137,000. Finally, AdvisorNet Financial Inc raised its holdings in Materion by 189.6% during the 4th quarter. AdvisorNet Financial Inc now owns 1,222 shares of the basic materials company’s stock worth $159,000 after buying an additional 800 shares during the period. 93.56% of the stock is currently owned by institutional investors and hedge funds.

Materion Price Performance

Shares of MTRN opened at $106.70 on Friday. The stock has a market capitalization of $2.21 billion, a P/E ratio of 26.74 and a beta of 1.21. Materion Co. has a twelve month low of $92.23 and a twelve month high of $145.08. The company has a 50 day moving average of $113.35 and a 200-day moving average of $121.65. The company has a quick ratio of 1.07, a current ratio of 2.91 and a debt-to-equity ratio of 0.50.

Materion (NYSE:MTRN) last issued its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $0.96 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.02). The business had revenue of $385.29 million for 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 period in the prior year, the business earned $1.34 earnings per share. As a group, equities research analysts forecast that Materion Co. will post 5.84 EPS for the current fiscal year.

Materion Increases Dividend

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

Insider Activity at Materion

In related news, VP Gregory R. Chemnitz sold 2,000 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $113.31, for a total value of $226,620.00. Following the completion of the transaction, the vice president now directly owns 18,031 shares of the company’s stock, valued at $2,043,092.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Emily M. Liggett sold 1,152 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $111.86, for a total value of $128,862.72. Following the completion of the transaction, the director now directly owns 2,621 shares of the company’s stock, valued at $293,185.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Gregory R. Chemnitz sold 2,000 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $113.31, for a total transaction of $226,620.00. Following the completion of the transaction, the vice president now directly owns 18,031 shares of the company’s stock, valued at $2,043,092.61. The disclosure for this sale can be found here. 2.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, KeyCorp decreased their price target on shares of Materion from $156.00 to $152.00 and set an “overweight” rating for the company in a research note on Friday, May 10th.

About Materion

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.