State of Alaska Department of Revenue Sells 272 Shares of Materion Corporation (NYSE:MTRN)

State of Alaska Department of Revenue reduced its position in shares of Materion Corporation (NYSE:MTRN) by 2.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 11,498 shares of the basic materials company’s stock after selling 272 shares during the quarter. State of Alaska Department of Revenue owned about 0.06% of Materion worth $938,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vaughan Nelson Investment Management L.P. lifted its position in Materion by 7.5% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 673,007 shares of the basic materials company’s stock worth $54,917,000 after buying an additional 47,240 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in Materion in the fourth quarter worth $415,000. Raymond James Financial Inc. bought a new stake in Materion in the fourth quarter worth $10,399,000. SG Americas Securities LLC bought a new stake in Materion in the first quarter worth $714,000. Finally, Deutsche Bank AG lifted its position in Materion by 46.4% in the fourth quarter. Deutsche Bank AG now owns 18,244 shares of the basic materials company’s stock worth $1,804,000 after buying an additional 5,784 shares during the last quarter. 93.56% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, KeyCorp restated a “sector weight” rating on shares of Materion in a research report on Wednesday, May 7th.

Materion Stock Performance

MTRN stock opened at $80.58 on Friday. The company has a quick ratio of 1.20, a current ratio of 2.84 and a debt-to-equity ratio of 0.46. The business’s fifty day simple moving average is $79.10 and its two-hundred day simple moving average is $88.46. Materion Corporation has a twelve month low of $69.10 and a twelve month high of $123.21. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of 161.17 and a beta of 0.81.

Materion (NYSE:MTRN) last released its earnings results on Thursday, May 1st. The basic materials company reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.01. Materion had a return on equity of 12.83% and a net margin of 0.59%. The business had revenue of $420.33 million for the quarter, compared to analyst estimates of $396.83 million. During the same quarter last year, the firm posted $0.96 earnings per share. The business’s revenue was up 9.1% compared to the same quarter last year. Analysts predict that Materion Corporation will post 5.5 earnings per share for the current year.

Materion Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Thursday, May 29th were paid a $0.14 dividend. This is a positive change from Materion’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Thursday, May 29th. This represents a $0.56 dividend on an annualized basis and a yield of 0.69%. Materion’s dividend payout ratio (DPR) is presently 112.00%.

Insider Activity

In other news, VP Gregory R. Chemnitz sold 2,000 shares of the firm’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $80.45, for a total transaction of $160,900.00. Following the transaction, the vice president now owns 13,376 shares in the company, valued at approximately $1,076,099.20. This trade represents a 13.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.60% of the company’s stock.

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.