Texas Permanent School Fund Has $1.21 Million Holdings in Materion Co. (NYSE:MTRN)

Texas Permanent School Fund cut its holdings in shares of Materion Co. (NYSE:MTRN – Get Rating) by 6.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,801 shares of the basic materials company’s stock after selling 964 shares during the period. Texas Permanent School Fund owned approximately 0.07% of Materion worth $1,208,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MTRN. American Century Companies Inc. bought a new position in Materion during the first quarter worth about $392,000. Citigroup Inc. lifted its holdings in Materion by 11.8% during the first quarter. Citigroup Inc. now owns 17,656 shares of the basic materials company’s stock worth $1,514,000 after acquiring an additional 1,861 shares in the last quarter. Bank of Montreal Can lifted its holdings in Materion by 7.5% during the first quarter. Bank of Montreal Can now owns 7,835 shares of the basic materials company’s stock worth $682,000 after acquiring an additional 544 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in Materion by 50.4% during the first quarter. MetLife Investment Management LLC now owns 11,008 shares of the basic materials company’s stock worth $944,000 after acquiring an additional 3,687 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of Materion by 2.6% in the first quarter. Rhumbline Advisers now owns 61,589 shares of the basic materials company’s stock valued at $5,281,000 after purchasing an additional 1,545 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Materion news, VP Gregory R. Chemnitz sold 2,423 shares of the business’s stock in a transaction that occurred on Thursday, February 23rd. The stock was sold at an average price of $110.00, for a total transaction of $266,530.00. Following the transaction, the vice president now owns 19,360 shares of the company’s stock, valued at $2,129,600. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Materion news, VP Gregory R. Chemnitz sold 2,423 shares of the business’s stock in a transaction that occurred on Thursday, February 23rd. The stock was sold at an average price of $110.00, for a total transaction of $266,530.00. Following the transaction, the vice president now owns 19,360 shares of the company’s stock, valued at $2,129,600. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Gregory R. Chemnitz sold 577 shares of the business’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 in the company, valued at approximately $2,066,130. The disclosure for this sale can be found here. Insiders have sold a total of 5,398 shares of company stock valued at $580,807 over the last 90 days. 2.10% of the stock is currently owned by insiders.

Materion Stock Performance

MTRN opened at $101.63 on Monday. Materion Co. has a 52-week low of $64.89 and a 52-week high of $121.29. The firm has a market capitalization of $2.09 billion, a PE ratio of 21.67 and a beta of 1.08. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.08 and a current ratio of 2.85. The business’s 50-day simple moving average is $110.01 and its 200 day simple moving average is $96.10.

Materion (NYSE:MTRN – Get Rating) last released its earnings results on Wednesday, May 3rd. The basic materials company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.05. The business had revenue of $442.50 million for the quarter, compared to analyst estimates of $447.10 million. Materion had a return on equity of 14.03% and a net margin of 5.57%. Materion’s revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.20 earnings per share. As a group, sell-side analysts expect that Materion Co. will post 5.82 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on MTRN. StockNews.com upgraded Materion from a “hold” rating to a “buy” rating in a report on Friday, March 24th. KeyCorp boosted 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. Finally, CL King boosted their price target on Materion from $123.00 to $126.00 and gave the company a “buy” rating in a report on Tuesday, April 18th.

Materion Company Profile

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Materion Corp. engages in the production of engineered materials used in a variety of electrical, electronic, thermal, and structural applications. It operates through the following business segments: Performance Materials, Electronic Materials, Precision Optics, and Other. The Performance Materials segment provides engineered solutions comprised of beryllium and non-beryllium.