Intech Investment Management LLC Invests $724,000 in Materion Co. (NYSE:MTRN)

Intech Investment Management LLC purchased a new stake in shares of Materion Co. (NYSE:MTRN) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,692 shares of the basic materials company’s stock, valued at approximately $724,000.

Several other institutional investors have also added to or reduced their stakes in the company. Aurora Investment Counsel grew its holdings in shares of Materion by 1.2% in the fourth quarter. Aurora Investment Counsel now owns 6,505 shares of the basic materials company’s stock valued at $846,000 after purchasing an additional 80 shares in the last quarter. Arizona State Retirement System raised its position in shares of Materion by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 5,780 shares of the basic materials company’s stock valued at $625,000 after buying an additional 107 shares in the last quarter. Dakota Wealth Management lifted its holdings in shares of Materion by 1.8% in the 2nd quarter. Dakota Wealth Management now owns 11,190 shares of the basic materials company’s stock valued at $1,210,000 after acquiring an additional 200 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in Materion by 2.0% during the second quarter. Louisiana State Employees Retirement System now owns 10,400 shares of the basic materials company’s stock worth $1,125,000 after acquiring an additional 200 shares during the last quarter. Finally, Opal Wealth Advisors LLC purchased a new stake in Materion during the second quarter valued at approximately $25,000. Hedge funds and other institutional investors 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 Trading Up 0.3 %

Shares of MTRN opened at $108.78 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.25 and a quick ratio of 1.21. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of 27.26 and a beta of 1.18. The company has a 50-day moving average of $111.69 and a 200 day moving average of $115.08. Materion Co. has a 1-year low of $92.23 and a 1-year high of $145.08.

Materion (NYSE:MTRN) last announced its quarterly earnings results on Monday, August 5th. The basic materials company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. The firm had revenue of $425.87 million during the quarter, compared to analyst estimates of $424.02 million. Materion had a return on equity of 12.20% and a net margin of 4.80%. Materion’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.38 earnings per share. On average, research analysts expect that Materion Co. will post 5.74 EPS for the current year.

Materion Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were given a $0.135 dividend. The ex-dividend date was Friday, August 23rd. This represents a $0.54 annualized dividend and a dividend yield of 0.50%. Materion’s payout ratio is presently 13.53%.

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.