Envestnet Asset Management Inc. grew its holdings in shares of Materion Co. (NYSE:MTRN – Free Report) by 4.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,499 shares of the basic materials company’s stock after purchasing an additional 2,411 shares during the quarter. Envestnet Asset Management Inc. owned about 0.28% of Materion worth $6,681,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of MTRN. Bedel Financial Consulting Inc. acquired a new position in Materion in the 1st quarter valued at $232,000. Ellevest Inc. grew its position in Materion by 54.9% in the 1st quarter. Ellevest Inc. now owns 3,134 shares of the basic materials company’s stock worth $364,000 after purchasing an additional 1,111 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Materion in the 1st quarter worth $16,958,000. Raymond James & Associates grew its position in Materion by 7.5% in the 2nd quarter. Raymond James & Associates now owns 4,096 shares of the basic materials company’s stock worth $468,000 after purchasing an additional 284 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in Materion by 301.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,128 shares of the basic materials company’s stock worth $243,000 after purchasing an additional 1,598 shares during the last quarter. Institutional investors own 92.46% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on MTRN. StockNews.com began coverage on shares of Materion in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. KeyCorp raised their price target on shares of Materion from $128.00 to $130.00 and gave the stock an “overweight” rating in a research report on Thursday, November 2nd.
Materion Price Performance
NYSE:MTRN opened at $115.61 on Friday. The company has a 50-day moving average of $102.24 and a 200-day moving average of $106.78. The company has a market capitalization of $2.39 billion, a price-to-earnings ratio of 22.98 and a beta of 1.11. Materion Co. has a 52 week low of $74.90 and a 52 week high of $123.41. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.19 and a current ratio of 3.27.
Materion Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Thursday, November 16th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Wednesday, November 15th. Materion’s payout ratio is 10.34%.
Insider Transactions at Materion
In other news, VP Gregory R. Chemnitz sold 320 shares of the firm’s stock in a transaction dated Monday, August 28th. The shares were 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 approximately $2,034,018.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.30% of the stock is owned by insiders.
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.
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