Blue Trust Inc. Lowers Position in Materion Co. (NYSE:MTRN)

Blue Trust Inc. lowered its stake in shares of Materion Co. (NYSE:MTRN) by 84.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 459 shares of the basic materials company’s stock after selling 2,521 shares during the period. Blue Trust Inc.’s holdings in Materion were worth $50,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Ceredex Value Advisors LLC acquired a new position in Materion during the second quarter valued at approximately $12,938,000. F M Investments LLC acquired a new position in shares of Materion during the 2nd quarter valued at $11,643,000. Barrow Hanley Mewhinney & Strauss LLC boosted its position in Materion by 31.3% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 444,003 shares of the basic materials company’s stock worth $48,010,000 after purchasing an additional 105,969 shares during the period. Vaughan Nelson Investment Management L.P. increased its holdings in Materion by 21.8% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 538,975 shares of the basic materials company’s stock valued at $58,280,000 after purchasing an additional 96,525 shares in the last quarter. Finally, Jennison Associates LLC raised its position in Materion by 29.7% in the first quarter. Jennison Associates LLC now owns 262,121 shares of the basic materials company’s stock valued at $34,534,000 after purchasing an additional 60,030 shares during the period. Institutional investors and hedge funds own 93.56% of the company’s stock.

Analysts Set New Price Targets

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

Materion Price Performance

MTRN opened at $101.77 on Friday. Materion Co. has a twelve month low of $96.08 and a twelve month high of $145.08. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of 28.67 and a beta of 1.17. The company has a current ratio of 3.25, a quick ratio of 1.21 and a debt-to-equity ratio of 0.51. The company has a fifty day simple moving average of $107.39 and a 200 day simple moving average of $110.85.

Materion (NYSE:MTRN) last announced its earnings results on Wednesday, October 30th. The basic materials company reported $1.41 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.41. The business had revenue of $436.70 million for the quarter, compared to analyst estimates of $416.40 million. Materion had a return on equity of 12.20% and a net margin of 4.80%. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.39 earnings per share. Equities research analysts expect that Materion Co. will post 5.25 EPS for the current fiscal year.

Materion Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Thursday, November 14th will be given a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date is Thursday, November 14th. Materion’s payout ratio is currently 15.21%.

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.