Envestnet Asset Management Inc. Trims Stock Position in Materion Corporation (NYSE:MTRN)

Envestnet Asset Management Inc. trimmed its position in Materion Corporation (NYSE:MTRN) by 1.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,318 shares of the basic materials company’s stock after selling 1,223 shares during the quarter. Envestnet Asset Management Inc. owned 0.35% of Materion worth $5,983,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in shares of Materion by 722.2% in the 1st quarter. GAMMA Investing LLC now owns 2,146 shares of the basic materials company’s stock worth $175,000 after purchasing an additional 1,885 shares during the period. Summit Investment Advisors Inc. raised its holdings in shares of Materion by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,154 shares of the basic materials company’s stock valued at $213,000 after buying an additional 137 shares during the period. EntryPoint Capital LLC purchased a new stake in shares of Materion during the 4th quarter valued at about $223,000. Trexquant Investment LP purchased a new stake in shares of Materion during the 4th quarter valued at about $298,000. Finally, Graham Capital Management L.P. purchased a new stake in shares of Materion during the 4th quarter valued at about $300,000. 93.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MTRN has been the subject of several research reports. KeyCorp upgraded Materion from a “sector weight” rating to an “overweight” rating and set a $112.00 target price for the company in a research report on Friday, July 18th. Wall Street Zen upgraded Materion from a “hold” rating to a “buy” rating in a research report on Saturday, July 5th.

Insider Transactions at Materion

In related news, VP Gregory R. Chemnitz sold 2,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the vice president owned 13,376 shares in the company, valued at $1,076,099.20. This trade represents a 13.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is owned by company insiders.

Materion Stock Performance

MTRN stock opened at $97.16 on Thursday. 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 cap of $2.02 billion, a P/E ratio of 194.32 and a beta of 0.80. The firm has a 50 day simple moving average of $81.80 and a 200 day simple moving average of $86.34. Materion Corporation has a 52 week low of $69.10 and a 52 week high of $123.21.

Materion (NYSE:MTRN) last issued its earnings results 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 for the quarter, compared to analyst estimates of $396.83 million. Materion had a return on equity of 12.83% and a net margin of 0.59%. The business’s revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.96 EPS. 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. Shareholders of record on Thursday, May 29th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend was Thursday, May 29th. This is a positive change from Materion’s previous quarterly dividend of $0.14. Materion’s payout ratio is 112.00%.

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.