Deerfield Management Company L.P. Series C Acquires New Stake in Materion Co. (NYSE:MTRN)

Deerfield Management Company L.P. Series C bought a new position in Materion Co. (NYSE:MTRN) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,287 shares of the basic materials company’s stock, valued at approximately $247,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Jennison Associates LLC boosted its position in shares of Materion by 29.7% during the first quarter. Jennison Associates LLC now owns 262,121 shares of the basic materials company’s stock valued at $34,534,000 after buying an additional 60,030 shares during the last quarter. Trigran Investments Inc. lifted its holdings in Materion by 1.9% in the fourth quarter. Trigran Investments Inc. now owns 687,794 shares of the basic materials company’s stock valued at $89,503,000 after acquiring an additional 12,500 shares during the period. Vaughan Nelson Investment Management L.P. boosted its position in Materion by 83.9% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 442,450 shares of the basic materials company’s stock worth $58,293,000 after purchasing an additional 201,835 shares during the last quarter. Kingswood Wealth Advisors LLC grew its stake in shares of Materion by 66.9% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 13,768 shares of the basic materials company’s stock valued at $1,489,000 after purchasing an additional 5,518 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Materion by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 2,541,196 shares of the basic materials company’s stock valued at $330,686,000 after purchasing an additional 9,394 shares during the last quarter. 93.56% of the stock is currently owned by institutional investors.

Materion Price Performance

NYSE MTRN opened at $112.43 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.21 and a current ratio of 3.25. The business’s fifty day moving average is $111.52 and its 200 day moving average is $114.81. The company has a market capitalization of $2.33 billion, a PE ratio of 28.18 and a beta of 1.18. Materion Co. has a fifty-two week low of $92.23 and a fifty-two week high of $145.08.

Materion (NYSE:MTRN) last released its earnings results on Monday, August 5th. The basic materials company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. The company had revenue of $425.87 million for the quarter, compared to analysts’ expectations of $424.02 million. Materion had a net margin of 4.80% and a return on equity of 12.20%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.38 EPS. Sell-side analysts predict that Materion Co. will post 5.74 earnings per share for the current year.

Materion Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were issued a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 0.48%. The ex-dividend date was Friday, August 23rd. Materion’s dividend payout ratio is currently 13.53%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Materion from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th.

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.