New York State Teachers Retirement System Sells 4,030 Shares of Materion Co. (NYSE:MTRN)

New York State Teachers Retirement System lessened its holdings in Materion Co. (NYSE:MTRN) by 12.6% during the 4th quarter, Holdings Channel reports. The firm owned 27,994 shares of the basic materials company’s stock after selling 4,030 shares during the period. New York State Teachers Retirement System’s holdings in Materion were worth $2,768,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Stifel Financial Corp boosted its stake in Materion by 0.3% during the 3rd quarter. Stifel Financial Corp now owns 35,680 shares of the basic materials company’s stock worth $3,991,000 after acquiring an additional 91 shares during the last quarter. Dakota Wealth Management boosted its stake in Materion by 1.5% during the 4th quarter. Dakota Wealth Management now owns 10,910 shares of the basic materials company’s stock worth $1,079,000 after acquiring an additional 165 shares during the last quarter. GAMMA Investing LLC boosted its stake in Materion by 307.8% during the 4th quarter. GAMMA Investing LLC now owns 261 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 197 shares during the last quarter. Confluence Investment Management LLC boosted its stake in Materion by 5.3% during the 4th quarter. Confluence Investment Management LLC now owns 4,031 shares of the basic materials company’s stock worth $399,000 after acquiring an additional 204 shares during the last quarter. Finally, Gilman Hill Asset Management LLC boosted its stake in Materion by 0.9% during the 4th quarter. Gilman Hill Asset Management LLC now owns 33,662 shares of the basic materials company’s stock worth $3,329,000 after acquiring an additional 290 shares during the last quarter. Institutional investors own 93.56% of the company’s stock.

Materion Stock Down 4.6 %

Materion stock opened at $95.51 on Friday. The company’s 50 day simple moving average is $99.94 and its 200 day simple moving average is $106.72. Materion Co. has a fifty-two week low of $93.20 and a fifty-two week high of $139.21. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of 329.33 and a beta of 1.23. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.19 and a quick ratio of 1.26.

Materion (NYSE:MTRN) last released its quarterly earnings data on Wednesday, February 19th. The basic materials company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.12. Materion had a net margin of 0.35% and a return on equity of 12.42%. The business had revenue of $436.90 million for the quarter, compared to analyst estimates of $433.22 million. During the same quarter last year, the firm earned $1.41 EPS. Materion’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Materion Co. will post 5.5 EPS for the current year.

Materion Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Thursday, February 20th will be issued a dividend of $0.135 per share. The ex-dividend date is Thursday, February 20th. This represents a $0.54 annualized dividend and a yield of 0.57%. Materion’s dividend payout ratio (DPR) is currently 186.21%.

Insiders Place Their Bets

In other Materion news, CFO Shelly Marie Chadwick sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $115.92, for a total transaction of $115,920.00. Following the sale, the chief financial officer now directly owns 13,200 shares in the company, valued at approximately $1,530,144. This trade represents a 7.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 2.30% of the company’s stock.

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.