Amalgamated Bank Cuts Stock Position in Materion Corporation (NYSE:MTRN)

Amalgamated Bank lessened its holdings in Materion Corporation (NYSE:MTRN) by 2.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,931 shares of the basic materials company’s stock after selling 173 shares during the period. Amalgamated Bank’s holdings in Materion were worth $484,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in MTRN. Capital Research Global Investors grew its holdings in Materion by 16.3% during the 4th quarter. Capital Research Global Investors now owns 1,838,484 shares of the basic materials company’s stock valued at $181,789,000 after purchasing an additional 257,637 shares in the last quarter. GAMMA Investing LLC grew its holdings in Materion by 66,993.5% during the 1st quarter. GAMMA Investing LLC now owns 175,114 shares of the basic materials company’s stock valued at $14,289,000 after purchasing an additional 174,853 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Materion during the 4th quarter valued at $10,399,000. Norges Bank acquired a new stake in Materion during the 4th quarter valued at $5,037,000. Finally, Vaughan Nelson Investment Management L.P. grew its holdings in Materion by 7.5% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 673,007 shares of the basic materials company’s stock valued at $54,917,000 after purchasing an additional 47,240 shares in the last quarter. 93.56% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Materion

In other news, VP Gregory R. Chemnitz sold 2,000 shares of Materion stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $80.45, for a total value of $160,900.00. Following the completion of the transaction, the vice president directly owned 13,376 shares of the company’s stock, valued at approximately $1,076,099.20. The trade was a 13.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.60% of the company’s stock.

Materion Price Performance

Shares of MTRN stock opened at $86.98 on Friday. The firm has a market cap of $1.81 billion, a P/E ratio of 173.96 and a beta of 0.80. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.84 and a quick ratio of 1.20. Materion Corporation has a 1-year low of $69.10 and a 1-year high of $123.21. The firm has a fifty day moving average of $79.47 and a two-hundred day moving average of $86.89.

Materion (NYSE:MTRN) last announced its quarterly earnings data on Thursday, May 1st. The basic materials company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.01. The company had revenue of $420.33 million during the quarter, compared to analyst estimates of $396.83 million. Materion had a net margin of 0.59% and a return on equity of 12.83%. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period last year, the business earned $0.96 EPS. As a group, research analysts anticipate that Materion Corporation will post 5.5 earnings per share for the current fiscal year.

Materion Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Thursday, May 29th were issued a $0.14 dividend. The ex-dividend date was Thursday, May 29th. This is a positive change from Materion’s previous quarterly dividend of $0.14. This represents a $0.56 annualized dividend and a dividend yield of 0.64%. Materion’s payout ratio is 112.00%.

Wall Street Analysts Forecast Growth

MTRN has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of Materion from a “hold” rating to a “buy” rating in a report on Saturday, July 5th. KeyCorp reaffirmed a “sector weight” rating on shares of Materion in a report on Wednesday, May 7th.

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.