Victory Capital Management Inc. Decreases Holdings in Materion Co. (NYSE:MTRN)

Victory Capital Management Inc. decreased its position in shares of Materion Co. (NYSE:MTRN) by 94.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 7,247 shares of the basic materials company’s stock after selling 126,693 shares during the period. Victory Capital Management Inc.’s holdings in Materion were worth $811,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Opal Wealth Advisors LLC purchased a new stake in shares of Materion during 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 valued at $28,000 after buying an additional 256 shares in the last quarter. Lynx Investment Advisory purchased a new stake in Materion in the 2nd quarter valued at approximately $38,000. ARK Investment Management LLC purchased a new stake in Materion in the 3rd quarter valued at approximately $85,000. Finally, Brown Lisle Cummings Inc. purchased a new stake in Materion in the 2nd quarter valued at approximately $92,000. Hedge funds and other institutional investors own 93.56% of the company’s stock.

Analyst Upgrades and Downgrades

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

Materion Price Performance

MTRN stock opened at $115.62 on Thursday. Materion Co. has a 1 year low of $96.18 and a 1 year high of $145.08. 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’s 50 day moving average price is $109.19 and its 200 day moving average price is $110.54. The firm has a market cap of $2.40 billion, a P/E ratio of 32.52 and a beta of 1.19.

Materion (NYSE:MTRN) last issued its quarterly earnings results 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 company had revenue of $436.70 million during the quarter, compared to the consensus estimate of $416.40 million. Materion had a return on equity of 12.06% and a net margin of 4.45%. Materion’s revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.39 EPS. On average, sell-side analysts expect that Materion Co. will post 5.24 earnings per share for the current fiscal year.

Materion Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Thursday, November 14th will be issued a $0.135 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.54 annualized dividend and a yield of 0.47%. Materion’s dividend payout ratio (DPR) is presently 15.21%.

Insider Buying and Selling at Materion

In other news, VP Gregory R. Chemnitz sold 2,000 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $117.57, for a total transaction of $235,140.00. Following the completion of the sale, the vice president now directly owns 12,031 shares in the company, valued at $1,414,484.67. This represents a 14.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.60% of the stock is currently owned by insiders.

Materion Company Profile

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.