Renaissance Technologies LLC Decreases Holdings in Materion Co. (NYSE:MTRN)

Renaissance Technologies LLC lowered its stake in Materion Co. (NYSE:MTRN) by 75.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 8,473 shares of the basic materials company’s stock after selling 25,427 shares during the quarter. Renaissance Technologies LLC’s holdings in Materion were worth $838,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in Materion in the fourth quarter worth about $10,399,000. Norges Bank bought a new position in shares of Materion in the fourth quarter worth approximately $5,037,000. JPMorgan Chase & Co. lifted its position in shares of Materion by 69.1% in the fourth quarter. JPMorgan Chase & Co. now owns 103,799 shares of the basic materials company’s stock valued at $10,264,000 after acquiring an additional 42,414 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in Materion by 6.8% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 473,606 shares of the basic materials company’s stock valued at $46,830,000 after buying an additional 30,262 shares in the last quarter. Finally, Barclays PLC boosted its holdings in shares of Materion by 356.9% during the 3rd quarter. Barclays PLC now owns 34,877 shares of the basic materials company’s stock valued at $3,902,000 after purchasing an additional 27,244 shares during the last quarter. Institutional investors own 93.56% of the company’s stock.

Materion Price Performance

NYSE:MTRN opened at $84.20 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.19 and a quick ratio of 1.26. Materion Co. has a 1 year low of $69.10 and a 1 year high of $123.21. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of 290.33 and a beta of 1.15. The business has a 50 day simple moving average of $83.01 and a 200-day simple moving average of $97.60.

Materion (NYSE:MTRN) last posted its quarterly earnings results on Thursday, May 1st. The basic materials company reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.01. Materion had a return on equity of 12.42% and a net margin of 0.35%. The business had revenue of $420.33 million for the quarter, compared to the consensus estimate of $396.83 million. During the same quarter in the prior year, the company earned $0.96 EPS. The business’s revenue was up 9.1% compared to the same quarter last year. Equities analysts forecast that Materion Co. will post 5.5 EPS for the current year.

Materion 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.