Raymond James & Associates Cuts Stock Position in Materion Co. (NYSE:MTRN)

Raymond James & Associates trimmed its position in shares of Materion Co. (NYSE:MTRN) by 7.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,647 shares of the basic materials company’s stock after selling 305 shares during the quarter. Raymond James & Associates’ holdings in Materion were worth $475,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Jennison Associates LLC purchased a new position in shares of Materion in the third quarter valued at approximately $20,614,000. Trigran Investments Inc. grew its stake in shares of Materion by 14.6% in the third quarter. Trigran Investments Inc. now owns 675,294 shares of the basic materials company’s stock worth $68,819,000 after acquiring an additional 86,134 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Materion by 1.4% during the third quarter. Vanguard Group Inc. now owns 2,531,802 shares of the basic materials company’s stock worth $258,016,000 after acquiring an additional 35,888 shares during the period. HighTower Advisors LLC acquired a new stake in shares of Materion in the third quarter valued at $3,377,000. Finally, Envestnet Asset Management Inc. raised its stake in shares of Materion by 45.3% in the third quarter. Envestnet Asset Management Inc. now owns 85,011 shares of the basic materials company’s stock valued at $8,663,000 after acquiring an additional 26,512 shares in the last quarter. 93.56% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, KeyCorp cut their price target on Materion from $157.00 to $156.00 and set an “overweight” rating on the stock in a report on Monday, April 1st.

Materion Stock Up 0.6 %

Shares of Materion stock opened at $119.40 on Friday. The company has a quick ratio of 1.05, a current ratio of 2.78 and a debt-to-equity ratio of 0.45. Materion Co. has a 52-week low of $92.23 and a 52-week high of $145.08. The company has a market capitalization of $2.48 billion, a P/E ratio of 26.07 and a beta of 1.14. The company has a 50 day moving average of $129.14 and a 200 day moving average of $119.79.

Materion (NYSE:MTRN) last released its quarterly earnings data on Thursday, February 15th. The basic materials company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.03. Materion had a net margin of 5.75% and a return on equity of 13.49%. The business had revenue of $421.00 million during the quarter, compared to analysts’ expectations of $420.50 million. During the same period in the previous year, the company earned $1.49 EPS. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. As a group, research analysts forecast that Materion Co. will post 6.03 EPS for the current fiscal year.

Materion Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Thursday, February 22nd were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend was Wednesday, February 21st. Materion’s dividend payout ratio (DPR) is presently 11.35%.

Insider Buying and Selling

In related news, CFO Shelly Marie Chadwick sold 2,000 shares of Materion stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $132.60, for a total transaction of $265,200.00. Following the sale, the chief financial officer now directly owns 13,147 shares in the company, valued at approximately $1,743,292.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Shelly Marie Chadwick sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $132.60, for a total transaction of $265,200.00. Following the transaction, the chief financial officer now owns 13,147 shares in the company, valued at approximately $1,743,292.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Gregory R. Chemnitz sold 3,000 shares of Materion stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $133.74, for a total value of $401,220.00. Following the transaction, the vice president now directly owns 14,510 shares in the company, valued at approximately $1,940,567.40. The disclosure for this sale can be found here. 2.30% of the stock is owned by company insiders.

Materion Company Profile

Materion Corporation, together 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. The company operates in four segments: Performance Materials, Electronic Materials, Precision Optics, and Other.