AXQ Capital LP Takes Position in Materion Corporation $MTRN

AXQ Capital LP purchased a new position in shares of Materion Corporation (NYSE:MTRN) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 5,913 shares of the basic materials company’s stock, valued at approximately $469,000.

Several other large investors also recently bought and sold shares of the stock. First Horizon Advisors Inc. increased its position in shares of Materion by 25.3% in the 2nd quarter. First Horizon Advisors Inc. now owns 585 shares of the basic materials company’s stock valued at $46,000 after acquiring an additional 118 shares during the period. Teacher Retirement System of Texas lifted its position in shares of Materion by 4.2% during the 2nd quarter. Teacher Retirement System of Texas now owns 3,160 shares of the basic materials company’s stock valued at $251,000 after buying an additional 126 shares in the last quarter. Inspire Investing LLC increased its stake in shares of Materion by 4.0% during the first quarter. Inspire Investing LLC now owns 4,209 shares of the basic materials company’s stock worth $343,000 after purchasing an additional 160 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Materion by 3.2% during the first quarter. Victory Capital Management Inc. now owns 8,124 shares of the basic materials company’s stock valued at $663,000 after acquiring an additional 250 shares during the last quarter. Finally, Avantax Advisory Services Inc. lifted its position in shares of Materion by 7.8% in the first quarter. Avantax Advisory Services Inc. now owns 3,735 shares of the basic materials company’s stock valued at $305,000 after acquiring an additional 271 shares in the last quarter. Hedge funds and other institutional investors own 93.56% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on MTRN shares. Zacks Research downgraded shares of Materion from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Wall Street Zen cut Materion from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Weiss Ratings reissued a “hold (c-)” rating on shares of Materion in a research report on Wednesday, October 8th. Finally, KeyCorp lifted their price target on shares of Materion from $115.00 to $117.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 13th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $117.00.

Materion Price Performance

Shares of MTRN opened at $117.71 on Monday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.25 and a current ratio of 3.28. Materion Corporation has a fifty-two week low of $69.10 and a fifty-two week high of $135.33. The firm has a 50-day simple moving average of $121.29 and a 200-day simple moving average of $102.40. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of 123.91 and a beta of 0.91.

Materion (NYSE:MTRN) last posted its quarterly earnings data on Wednesday, March 22nd. The basic materials company reported $1.03 EPS for the quarter. Materion had a return on equity of 12.66% and a net margin of 1.12%.The firm had revenue of $230.20 million during the quarter. On average, equities research analysts anticipate that Materion Corporation will post 5.5 earnings per share for the current year.

Materion Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Thursday, November 13th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Thursday, November 13th. Materion’s dividend payout ratio is 58.95%.

Insider Buying and Selling

In other Materion news, VP Gregory R. Chemnitz sold 864 shares of the business’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $113.23, for a total transaction of $97,830.72. Following the sale, the vice president directly owned 10,376 shares in the company, valued at approximately $1,174,874.48. The trade was a 7.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company 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.