New York State Common Retirement Fund Sells 571 Shares of Materion Co. (NYSE:MTRN)

New York State Common Retirement Fund decreased its position in shares of Materion Co. (NYSE:MTRN) by 1.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 36,903 shares of the basic materials company’s stock after selling 571 shares during the quarter. New York State Common Retirement Fund’s holdings in Materion were worth $4,802,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Materion by 1.4% during the 3rd 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 in the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in Materion in the fourth quarter worth approximately $31,311,000. Louisiana State Employees Retirement System purchased a new stake in Materion during the fourth quarter worth $1,340,000. Nordea Investment Management AB boosted its position in Materion by 18.0% during the 3rd quarter. Nordea Investment Management AB now owns 75,436 shares of the basic materials company’s stock valued at $7,717,000 after acquiring an additional 11,520 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Materion by 67.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 31,026 shares of the basic materials company’s stock valued at $4,037,000 after acquiring an additional 12,470 shares during the period. Hedge funds and other institutional investors own 93.56% of the company’s stock.

Materion Trading Down 2.4 %

NYSE MTRN opened at $107.23 on Friday. Materion Co. has a 52 week low of $92.23 and a 52 week high of $145.08. The company has a 50 day moving average price of $126.87 and a 200 day moving average price of $120.59. The company has a quick ratio of 1.05, a current ratio of 2.91 and a debt-to-equity ratio of 0.50. The firm has a market cap of $2.22 billion, a PE ratio of 26.87 and a beta of 1.17.

Materion (NYSE:MTRN) last issued its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $0.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.02). The business had revenue of $385.29 million for the quarter, compared to analyst estimates of $386.84 million. Materion had a return on equity of 12.32% and a net margin of 5.19%. The business’s revenue for the quarter was down 12.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.34 earnings per share. As a group, sell-side analysts forecast that Materion Co. will post 5.93 EPS for the current fiscal year.

Insider Buying and Selling at Materion

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

Analyst Ratings Changes

Separately, KeyCorp decreased their price objective on Materion from $157.00 to $156.00 and set an “overweight” rating for the company in a research note on Monday, April 1st.

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.