Teton Advisors Inc. Decreases Holdings in Materion (MTRN)

Teton Advisors Inc. cut its stake in Materion (NYSE:MTRN) by 2.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 170,800 shares of the basic materials company’s stock after selling 5,000 shares during the quarter. Teton Advisors Inc. owned about 0.85% of Materion worth $8,719,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Millennium Management LLC increased its stake in shares of Materion by 3,128.9% in the 4th quarter. Millennium Management LLC now owns 238,581 shares of the basic materials company’s stock worth $11,595,000 after acquiring an additional 231,192 shares in the last quarter. ACK Asset Management LLC increased its stake in shares of Materion by 142.5% in the 4th quarter. ACK Asset Management LLC now owns 310,000 shares of the basic materials company’s stock worth $15,066,000 after acquiring an additional 182,183 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of Materion by 127.1% in the 4th quarter. Acadian Asset Management LLC now owns 315,510 shares of the basic materials company’s stock worth $15,335,000 after acquiring an additional 176,602 shares in the last quarter. BlackRock Inc. increased its stake in shares of Materion by 4.6% in the 4th quarter. BlackRock Inc. now owns 2,732,251 shares of the basic materials company’s stock worth $132,788,000 after acquiring an additional 119,764 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new position in shares of Materion in the 4th quarter worth about $5,490,000. Institutional investors and hedge funds own 88.79% of the company’s stock.

Shares of MTRN stock opened at $57.25 on Tuesday. Materion has a one year low of $33.15 and a one year high of $57.45. The stock has a market cap of $1.14 billion, a P/E ratio of 33.28 and a beta of 1.00. The company has a current ratio of 3.48, a quick ratio of 1.58 and a debt-to-equity ratio of 0.01.

Materion (NYSE:MTRN) last announced its quarterly earnings data on Thursday, April 26th. The basic materials company reported $0.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.07. Materion had a net margin of 1.58% and a return on equity of 7.83%. The company had revenue of $303.50 million for the quarter, compared to the consensus estimate of $300.73 million. During the same period in the prior year, the firm posted $0.29 EPS. Materion’s revenue for the quarter was up 26.1% on a year-over-year basis. analysts forecast that Materion will post 2.1 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Wednesday, May 16th will be given a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a yield of 0.73%. This is an increase from Materion’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Tuesday, May 15th. Materion’s dividend payout ratio is 24.42%.

Several analysts recently commented on the stock. Jefferies Group set a $48.00 price objective on shares of Materion and gave the company a “hold” rating in a research report on Thursday, February 15th. ValuEngine raised shares of Materion from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 17th. Zacks Investment Research downgraded shares of Materion from a “buy” rating to a “hold” rating in a research report on Wednesday, April 25th. Finally, TheStreet downgraded shares of Materion from a “b” rating to a “c+” rating in a research report on Friday, February 16th. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $54.00.

In other news, VP Joseph P. Kelley sold 2,419 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $51.43, for a total transaction of $124,409.17. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Gregory R. Chemnitz sold 5,000 shares of the firm’s stock in a transaction dated Friday, May 4th. The shares were sold at an average price of $52.02, for a total transaction of $260,100.00. Following the sale, the vice president now directly owns 12,576 shares in the company, valued at approximately $654,203.52. The disclosure for this sale can be found here. Insiders have sold a total of 15,045 shares of company stock worth $794,483 over the last three months. 1.40% of the stock is currently owned by insiders.

Materion Company Profile

Materion Corporation manufactures and sells advanced engineered materials used in consumer electronics, industrial components, defense, medical, automotive electronics, telecommunications infrastructure, energy, commercial aerospace, science, services, and appliance markets worldwide. The company operates through Performance Alloys and Composites, Advanced Materials, and Precision Coatings segments.

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Institutional Ownership by Quarter for Materion (NYSE:MTRN)

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