Principal Financial Group Inc. Sells 8,899 Shares of Materion Co. (NYSE:MTRN)

Principal Financial Group Inc. cut its holdings in Materion Co. (NYSE:MTRN) by 8.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 98,246 shares of the basic materials company’s stock after selling 8,899 shares during the period. Principal Financial Group Inc.’s holdings in Materion were worth $10,990,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of MTRN. Opal Wealth Advisors LLC purchased a new stake in Materion in the 2nd quarter worth approximately $25,000. Quest Partners LLC lifted its stake in Materion by 25,600.0% in the 2nd quarter. Quest Partners LLC now owns 257 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 256 shares in the last quarter. Lynx Investment Advisory purchased a new stake in Materion in the 2nd quarter worth approximately $38,000. Brown Lisle Cummings Inc. purchased a new stake in Materion in the 2nd quarter worth approximately $92,000. Finally, SG Americas Securities LLC purchased a new stake in Materion in the 1st quarter worth approximately $150,000. 93.56% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, VP Gregory R. Chemnitz sold 2,000 shares of Materion stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $117.57, for a total value of $235,140.00. Following the transaction, the vice president now owns 12,031 shares in the company, valued at $1,414,484.67. This trade represents a 14.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.30% of the company’s stock.

Materion Stock Performance

Materion stock opened at $114.44 on Monday. The firm’s fifty day moving average price is $107.73 and its 200-day moving average price is $110.34. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.26 and a current ratio of 3.15. The stock has a market cap of $2.37 billion, a P/E ratio of 32.24 and a beta of 1.19. Materion Co. has a fifty-two week low of $96.18 and a fifty-two week high of $145.08.

Materion (NYSE:MTRN) last posted its quarterly earnings data on Wednesday, October 30th. The basic materials company reported $1.41 earnings per share for the quarter, meeting the consensus estimate of $1.41. The firm had revenue of $436.70 million for the quarter, compared to analysts’ expectations of $416.40 million. Materion had a net margin of 4.45% and a return on equity of 12.06%. The business’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the company posted $1.39 EPS. On average, equities research analysts expect that Materion Co. will post 5.24 earnings per share for the current fiscal year.

Materion Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Thursday, November 14th. Materion’s dividend payout ratio (DPR) 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.