Materion Corp (MTRN) Position Lessened by Ameriprise Financial Inc.

Ameriprise Financial Inc. reduced its position in shares of Materion Corp (NYSE:MTRN) by 5.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 636,426 shares of the basic materials company’s stock after selling 36,127 shares during the quarter. Ameriprise Financial Inc. owned 3.18% of Materion worth $27,461,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Materion by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 1,905,636 shares of the basic materials company’s stock valued at $71,271,000 after buying an additional 25,885 shares in the last quarter. Northern Trust Corp raised its holdings in Materion by 3.9% in the 2nd quarter. Northern Trust Corp now owns 926,420 shares of the basic materials company’s stock valued at $34,648,000 after acquiring an additional 34,481 shares during the last quarter. State Street Corp raised its holdings in Materion by 4.2% in the 2nd quarter. State Street Corp now owns 672,956 shares of the basic materials company’s stock valued at $25,167,000 after acquiring an additional 26,973 shares during the last quarter. Phocas Financial Corp. raised its holdings in Materion by 4.7% in the 2nd quarter. Phocas Financial Corp. now owns 269,383 shares of the basic materials company’s stock valued at $10,075,000 after acquiring an additional 12,022 shares during the last quarter. Finally, Thrivent Financial For Lutherans raised its holdings in Materion by 0.6% in the 2nd quarter. Thrivent Financial For Lutherans now owns 244,970 shares of the basic materials company’s stock valued at $9,162,000 after acquiring an additional 1,340 shares during the last quarter. 89.99% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director N Mohan Reddy sold 11,393 shares of the business’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $50.11, for a total transaction of $570,903.23. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Gregory R. Chemnitz sold 4,000 shares of the business’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $50.16, for a total transaction of $200,640.00. Following the sale, the vice president now directly owns 13,245 shares in the company, valued at approximately $664,369.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,470 shares of company stock worth $2,420,896. 2.90% of the stock is currently owned by company insiders.

A number of analysts have recently issued reports on the stock. BidaskClub upgraded shares of Materion from a “hold” rating to a “buy” rating in a report on Tuesday, October 31st. Jefferies Group reaffirmed a “hold” rating and set a $36.00 price objective on shares of Materion in a research report on Thursday, October 12th. ValuEngine cut shares of Materion from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. KeyCorp reaffirmed a “hold” rating on shares of Materion in a research report on Monday, November 13th. Finally, Zacks Investment Research raised shares of Materion from a “hold” rating to a “strong-buy” rating and set a $56.00 price target for the company in a research report on Wednesday. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $46.00.

Materion Corp (NYSE:MTRN) traded down $0.35 during trading on Friday, hitting $48.60. 154,265 shares of the stock traded hands, compared to its average volume of 108,404. The stock has a market cap of $981.13, a PE ratio of 37.38 and a beta of 1.07. Materion Corp has a 1-year low of $31.05 and a 1-year high of $52.10. The company has a current ratio of 3.42, a quick ratio of 1.48 and a debt-to-equity ratio of 0.01.

Materion (NYSE:MTRN) last announced its quarterly earnings results on Thursday, October 26th. The basic materials company reported $0.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.10. Materion had a net margin of 2.48% and a return on equity of 6.08%. The firm had revenue of $294.27 million for the quarter, compared to analyst estimates of $290.96 million. During the same period last year, the business earned $0.46 EPS. Materion’s revenue for the quarter was up 17.9% compared to the same quarter last year. sell-side analysts expect that Materion Corp will post 1.6 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Wednesday, November 8th were paid a $0.10 dividend. The ex-dividend date was Tuesday, November 7th. This represents a $0.40 dividend on an annualized basis and a yield of 0.82%. Materion’s dividend payout ratio is presently 30.77%.

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About Materion

Materion Corporation, through its subsidiaries, is an integrated producer of engineered materials used in a range of electrical, electronic, thermal, and structural applications. The Company operates in four segments: Performance Alloys and Composites, Advanced Materials, Precision Coatings, and Other.

Institutional Ownership by Quarter for Materion (NYSE:MTRN)

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