PNC Financial Services Group Inc. Raises Stake in Materion Corporation (NYSE:MTRN)

PNC Financial Services Group Inc. grew its stake in shares of Materion Corporation (NYSE:MTRN) by 18.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,377 shares of the basic materials company’s stock after purchasing an additional 673 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Materion were worth $357,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Principal Financial Group Inc. raised its holdings in shares of Materion by 2.3% in the first quarter. Principal Financial Group Inc. now owns 103,572 shares of the basic materials company’s stock valued at $8,451,000 after acquiring an additional 2,369 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Materion by 722.2% in the first quarter. GAMMA Investing LLC now owns 2,146 shares of the basic materials company’s stock valued at $175,000 after acquiring an additional 1,885 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in shares of 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 valued at $54,917,000 after acquiring an additional 47,240 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Materion in the first quarter valued at about $714,000. Finally, Teacher Retirement System of Texas bought a new stake in shares of Materion in the first quarter valued at about $248,000. 93.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MTRN has been the subject of several recent research reports. Wall Street Zen downgraded Materion from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. KeyCorp restated an “overweight” rating and issued a $117.00 price objective (up from $115.00) on shares of Materion in a report on Wednesday.

Insiders Place Their Bets

In other news, Director N Mohan Reddy sold 1,155 shares of the company’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $105.45, for a total transaction of $121,794.75. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Melissa A. Fashinpaur sold 1,140 shares of the company’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $105.34, for a total transaction of $120,087.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,295 shares of company stock worth $557,392. 2.60% of the stock is owned by corporate insiders.

Materion Stock Performance

Shares of Materion stock opened at $111.93 on Friday. The company has a market capitalization of $2.32 billion, a PE ratio of 139.91 and a beta of 0.85. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.25 and a current ratio of 3.17. The company has a 50-day simple moving average of $90.77 and a two-hundred day simple moving average of $86.92. Materion Corporation has a one year low of $69.10 and a one year high of $123.21.

Materion (NYSE:MTRN) last announced its earnings results on Wednesday, July 30th. The basic materials company reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.19. The business had revenue of $431.66 million during the quarter, compared to the consensus estimate of $403.73 million. Materion had a net margin of 0.94% and a return on equity of 12.69%. The firm’s revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.42 earnings per share. Research analysts expect that Materion Corporation will post 5.5 EPS for the current fiscal year.

Materion Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 22nd will be issued a $0.14 dividend. The ex-dividend date is Friday, August 22nd. This represents a $0.56 dividend on an annualized basis and a yield of 0.5%. Materion’s payout ratio is currently 70.00%.

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.