Materion Co. (NYSE:MTRN) Position Increased by Swiss National Bank

Swiss National Bank lifted its stake in Materion Co. (NYSE:MTRN – Get Rating) by 1.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 49,500 shares of the basic materials company’s stock after purchasing an additional 900 shares during the quarter. Swiss National Bank owned 0.24% of Materion worth $4,332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Russell Investments Group Ltd. increased its position in Materion by 14.0% during the fourth quarter. Russell Investments Group Ltd. now owns 9,577 shares of the basic materials company’s stock worth $838,000 after acquiring an additional 1,177 shares during the period. Arizona State Retirement System increased its position in Materion by 3.9% during the fourth quarter. Arizona State Retirement System now owns 5,791 shares of the basic materials company’s stock worth $507,000 after acquiring an additional 217 shares during the period. State Board of Administration of Florida Retirement System increased its position in Materion by 10.1% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 3,597 shares of the basic materials company’s stock worth $315,000 after acquiring an additional 330 shares during the period. Synovus Financial Corp increased its position in Materion by 7.3% during the fourth quarter. Synovus Financial Corp now owns 12,105 shares of the basic materials company’s stock worth $1,059,000 after acquiring an additional 826 shares during the period. Finally, Ellevest Inc. increased its position in Materion by 31.7% during the fourth quarter. Ellevest Inc. now owns 2,023 shares of the basic materials company’s stock worth $177,000 after acquiring an additional 487 shares during the period. 95.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. StockNews.com raised shares of Materion from a “hold” rating to a “buy” rating in a report on Tuesday, May 16th. KeyCorp upped their price target on shares of Materion from $92.00 to $130.00 and gave the stock an “overweight” rating in a research report on Friday, February 17th. Finally, CL King boosted their price objective on Materion from $123.00 to $126.00 and gave the stock a “buy” rating in a report on Tuesday, April 18th.

Insider Transactions at Materion

In related news, VP Gregory R. Chemnitz sold 2,423 shares of the firm’s stock in a transaction 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 completion of the transaction, the vice president now directly owns 19,360 shares of the company’s stock, valued at $2,129,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, VP Gregory R. Chemnitz sold 577 shares of Materion stock in a transaction on Monday, February 27th. The stock was sold at an average price of $110.00, for a total transaction of $63,470.00. Following the completion of the sale, the vice president now owns 18,783 shares of the company’s stock, valued at $2,066,130. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Gregory R. Chemnitz sold 2,423 shares of the business’s stock in a transaction dated Thursday, February 23rd. The shares were sold at an average price of $110.00, for a total value of $266,530.00. Following the completion of the transaction, the vice president now directly owns 19,360 shares of the company’s stock, valued at approximately $2,129,600. The disclosure for this sale can be found here. Insiders sold 7,776 shares of company stock valued at $823,482 in the last ninety days. 2.30% of the stock is currently owned by corporate insiders.

Materion Price Performance

NYSE MTRN opened at $105.35 on Friday. The business has a 50 day simple moving average of $109.27 and a 200 day simple moving average of $96.69. Materion Co. has a 52-week low of $64.89 and a 52-week high of $121.29. 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 stock has a market cap of $2.17 billion, a price-to-earnings ratio of 22.46 and a beta of 1.08.

Materion (NYSE:MTRN – Get Rating) last issued its quarterly earnings results on Wednesday, May 3rd. The basic materials company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.05. The company had revenue of $442.50 million during the quarter, compared to analysts’ expectations of $447.10 million. Materion had a net margin of 5.57% and a return on equity of 14.03%. The business’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period last year, the business earned $1.20 EPS. Analysts anticipate that Materion Co. will post 5.78 earnings per share for the current fiscal year.

Materion Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Wednesday, May 31st will be paid a dividend of $0.13 per share. This is a boost from Materion’s previous quarterly dividend of $0.13. This represents a $0.52 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend is Tuesday, May 30th. Materion’s dividend payout ratio (DPR) is currently 10.66%.

Materion 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.