Royal Bank of Canada Boosts Stock Position in Materion Co. (NYSE:MTRN)

Royal Bank of Canada increased its stake in shares of Materion Co. (NYSE:MTRN – Get Rating) by 8.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 108,811 shares of the basic materials company’s stock after purchasing an additional 8,250 shares during the quarter. Royal Bank of Canada owned approximately 0.53% of Materion worth $8,705,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Inspire Investing LLC grew its holdings in Materion by 4.4% in the 2nd quarter. Inspire Investing LLC now owns 2,886 shares of the basic materials company’s stock valued at $213,000 after buying an additional 122 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in Materion by 2.3% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 6,765 shares of the basic materials company’s stock valued at $541,000 after buying an additional 152 shares during the period. Captrust Financial Advisors grew its holdings in Materion by 9.2% in the 2nd quarter. Captrust Financial Advisors now owns 2,174 shares of the basic materials company’s stock valued at $160,000 after buying an additional 183 shares during the period. Money Concepts Capital Corp grew its holdings in Materion by 6.3% in the 3rd quarter. Money Concepts Capital Corp now owns 3,142 shares of the basic materials company’s stock valued at $251,000 after buying an additional 187 shares during the period. Finally, Yousif Capital Management LLC grew its holdings in Materion by 1.1% in the 1st quarter. Yousif Capital Management LLC now owns 18,880 shares of the basic materials company’s stock valued at $1,619,000 after buying an additional 213 shares during the period. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Materion Stock Down 3.6 %

Shares of NYSE:MTRN opened at $107.02 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.12 and a current ratio of 2.89. Materion Co. has a 1 year low of $64.89 and a 1 year high of $118.20. The stock has a market capitalization of $2.20 billion, a P/E ratio of 25.85 and a beta of 1.08. The stock has a 50-day simple moving average of $97.43 and a 200-day simple moving average of $87.37.

Materion (NYSE:MTRN – Get Rating) last released its quarterly earnings results on Thursday, February 16th. The basic materials company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.40 by $0.09. The firm had revenue of $434.60 million for the quarter, compared to analyst estimates of $439.40 million. Materion had a return on equity of 14.05% and a net margin of 4.89%. Materion’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.13 EPS. Equities analysts forecast that Materion Co. will post 5.71 earnings per share for the current year.

Materion Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Thursday, February 23rd were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend was Wednesday, February 22nd. Materion’s dividend payout ratio (DPR) is presently 12.08%.

Analysts Set New Price Targets

Several research firms have commented on MTRN. KeyCorp lifted their price target on Materion from $92.00 to $130.00 and gave the company an “overweight” rating in a report on Friday, February 17th. StockNews.com cut Materion from a “buy” rating to a “hold” rating in a report on Monday, March 6th.

Insider Buying and Selling

In other Materion news, VP Gregory R. Chemnitz sold 577 shares of the company’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $110.00, for a total value of $63,470.00. Following the transaction, the vice president now directly owns 18,783 shares of the company’s stock, valued at approximately $2,066,130. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Materion news, VP Gregory R. Chemnitz sold 577 shares of the company’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $110.00, for a total value of $63,470.00. Following the transaction, the vice president now directly owns 18,783 shares of the company’s stock, valued at approximately $2,066,130. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Gregory R. Chemnitz sold 2,423 shares of the company’s stock in a transaction that occurred on Thursday, February 23rd. The shares were sold at an average price of $110.00, for a total value of $266,530.00. Following the sale, the vice president now directly owns 19,360 shares in the company, valued at $2,129,600. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by corporate insiders.

About Materion

(Get Rating)

Materion Corp. engages in the production of engineered materials used in a variety of electrical, electronic, thermal, and structural applications. The company operates through the following segments: Performance Alloys and Composites, Advanced Materials, Precision Coatings and Other. The Performance Alloys and Composites segment produces strip and bulk form alloy products, strip metal products with clad inlay and overlay metals, beryllium-based metals, beryllium, and aluminum metal matrix composites, in rod, sheet, foil, and a variety of customized forms, beryllium ceramics, and bulk metallic glass material.