Russell Investments Group Ltd. Lowers Stock Holdings in Materion Co. (NYSE:MTRN)

Russell Investments Group Ltd. lowered its holdings in Materion Co. (NYSE:MTRN) by 11.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,473 shares of the basic materials company’s stock after selling 1,104 shares during the period. Russell Investments Group Ltd.’s holdings in Materion were worth $983,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Nisa Investment Advisors LLC grew its position in shares of Materion by 0.7% in the first quarter. Nisa Investment Advisors LLC now owns 23,165 shares of the basic materials company’s stock valued at $2,687,000 after purchasing an additional 150 shares during the period. Arizona State Retirement System boosted its holdings in Materion by 2.7% in the first quarter. Arizona State Retirement System now owns 5,948 shares of the basic materials company’s stock valued at $690,000 after acquiring an additional 157 shares during the last quarter. Fiera Capital Corp boosted its holdings in Materion by 0.4% in the first quarter. Fiera Capital Corp now owns 40,692 shares of the basic materials company’s stock valued at $4,720,000 after acquiring an additional 166 shares during the last quarter. Captrust Financial Advisors boosted its holdings in Materion by 9.2% in the second quarter. Captrust Financial Advisors now owns 2,174 shares of the basic materials company’s stock valued at $160,000 after acquiring an additional 183 shares during the last quarter. Finally, Yousif Capital Management LLC boosted its holdings in Materion by 1.1% in the first quarter. Yousif Capital Management LLC now owns 18,880 shares of the basic materials company’s stock valued at $1,619,000 after acquiring an additional 213 shares during the last quarter. Hedge funds and other institutional investors own 92.46% of the company’s stock.

Insider Activity

In other news, VP Gregory R. Chemnitz sold 320 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $107.11, for a total transaction of $34,275.20. Following the completion of the transaction, the vice president now directly owns 18,990 shares of the company’s stock, valued at $2,034,018.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Seaport Res Ptn restated a “buy” rating on shares of Materion in a research note on Wednesday, July 5th. StockNews.com began coverage on Materion in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. KeyCorp boosted their price target on Materion from $131.00 to $133.00 and gave the stock an “overweight” rating in a research note on Thursday, August 3rd. Finally, CL King boosted their price target on Materion from $128.00 to $133.00 in a research note on Wednesday, July 5th.

Materion Stock Down 0.4 %

Shares of Materion stock opened at $108.79 on Friday. The company has a quick ratio of 1.04, a current ratio of 2.99 and a debt-to-equity ratio of 0.50. The firm has a market cap of $2.25 billion, a P/E ratio of 23.05 and a beta of 1.08. Materion Co. has a fifty-two week low of $64.89 and a fifty-two week high of $123.41. The business has a 50-day moving average price of $111.67 and a 200 day moving average price of $109.52.

Materion (NYSE:MTRN) last posted its earnings results on Wednesday, August 2nd. The basic materials company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.36 by $0.02. The company had revenue of $398.60 million during the quarter, compared to analyst estimates of $451.22 million. Materion had a return on equity of 13.92% and a net margin of 5.77%. The business’s revenue was down 10.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.28 earnings per share. On average, sell-side analysts forecast that Materion Co. will post 5.74 earnings per share for the current fiscal year.

Materion Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Friday, August 25th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.48%. The ex-dividend date is Thursday, August 24th. Materion’s dividend payout ratio (DPR) is presently 11.02%.

Materion Profile

Materion Corporation, through with its subsidiaries, produces advanced engineered materials used in semiconductor, industrial, aerospace and defense, automotive, energy, consumer electronics, and telecom and data center in the United States, Asia, Europe, and internationally. It operates through Performance Materials, Electronic Materials, and Precision Optics segments.