Bank of New York Mellon Corp Lowers Stock Holdings in Materion Corporation (NYSE:MTRN)

Bank of New York Mellon Corp lessened its position in shares of Materion Corporation (NYSE:MTRN) by 33.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 203,542 shares of the basic materials company’s stock after selling 103,050 shares during the quarter. Bank of New York Mellon Corp owned about 0.98% of Materion worth $16,609,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in Materion by 722.2% during the first quarter. GAMMA Investing LLC now owns 2,146 shares of the basic materials company’s stock worth $175,000 after buying an additional 1,885 shares in the last quarter. Summit Investment Advisors Inc. boosted its stake in Materion by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,154 shares of the basic materials company’s stock worth $213,000 after buying an additional 137 shares during the period. EntryPoint Capital LLC purchased a new position in shares of Materion in the fourth quarter valued at approximately $223,000. Teacher Retirement System of Texas purchased a new position in shares of Materion in the first quarter valued at approximately $248,000. Finally, Whittier Trust Co. boosted its stake in shares of Materion by 463.6% in the fourth quarter. Whittier Trust Co. now owns 2,818 shares of the basic materials company’s stock valued at $279,000 after purchasing an additional 2,318 shares during the period. Institutional investors and hedge funds own 93.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MTRN. Wall Street Zen upgraded shares of Materion from a “hold” rating to a “buy” rating in a research note on Saturday, July 5th. KeyCorp raised shares of Materion from a “sector weight” rating to an “overweight” rating and set a $112.00 target price on the stock in a report on Friday.

Insider Activity

In other Materion news, VP Gregory R. Chemnitz sold 2,000 shares of the firm’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $80.45, for a total transaction of $160,900.00. Following the sale, the vice president directly owned 13,376 shares of the company’s stock, valued at $1,076,099.20. This trade represents a 13.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.60% of the stock is owned by corporate insiders.

Materion Stock Performance

Shares of MTRN opened at $94.24 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.20 and a current ratio of 2.84. The stock has a market capitalization of $1.96 billion, a P/E ratio of 188.48 and a beta of 0.80. The company’s fifty day moving average is $80.70 and its two-hundred day moving average is $86.35. Materion Corporation has a 1 year low of $69.10 and a 1 year high of $123.21.

Materion (NYSE:MTRN) last issued its earnings results on Thursday, May 1st. The basic materials company reported $1.13 EPS for the quarter, topping the consensus estimate of $1.12 by $0.01. The company had revenue of $420.33 million for 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 business’s revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.96 EPS. On average, sell-side analysts predict that Materion Corporation will post 5.5 earnings per share for the current year.

Materion Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 29th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.59%. This is a boost from Materion’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Thursday, May 29th. Materion’s dividend payout ratio is presently 112.00%.

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.