Materion Corp (MTRN) Position Reduced by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL lessened its position in Materion Corp (NYSE:MTRN) by 2.5% during the 3rd quarter, reports. The fund owned 614,600 shares of the basic materials company’s stock after selling 15,500 shares during the period. Gamco Investors INC. ET AL’s holdings in Materion were worth $37,183,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Paloma Partners Management Co raised its holdings in Materion by 27.4% in the 2nd quarter. Paloma Partners Management Co now owns 6,508 shares of the basic materials company’s stock worth $352,000 after acquiring an additional 1,401 shares during the period. KBC Group NV acquired a new stake in Materion in the 2nd quarter worth $321,000. Citadel Advisors LLC grew its position in Materion by 205.5% in the 2nd quarter. Citadel Advisors LLC now owns 139,926 shares of the basic materials company’s stock worth $7,577,000 after purchasing an additional 94,121 shares during the last quarter. Northern Trust Corp grew its position in Materion by 2.8% in the 2nd quarter. Northern Trust Corp now owns 906,794 shares of the basic materials company’s stock worth $49,103,000 after purchasing an additional 24,404 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in Materion by 9.6% in the 2nd quarter. Wells Fargo & Company MN now owns 230,252 shares of the basic materials company’s stock worth $12,469,000 after purchasing an additional 20,183 shares during the last quarter. Hedge funds and other institutional investors own 89.70% of the company’s stock.

NYSE MTRN opened at $57.57 on Wednesday. The company has a current ratio of 3.22, a quick ratio of 1.64 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 33.47 and a beta of 1.03. Materion Corp has a 52-week low of $44.95 and a 52-week high of $65.10.

Materion (NYSE:MTRN) last posted its quarterly earnings results on Thursday, October 25th. The basic materials company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.13. The company had revenue of $297.19 million for the quarter, compared to analyst estimates of $307.70 million. Materion had a net margin of 2.74% and a return on equity of 8.94%. Research analysts forecast that Materion Corp will post 2.28 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Thursday, November 8th will be given a dividend of $0.105 per share. The ex-dividend date is Wednesday, November 7th. This represents a $0.42 annualized dividend and a dividend yield of 0.73%. Materion’s dividend payout ratio (DPR) is currently 24.42%.

In other news, VP Gregory R. Chemnitz sold 4,000 shares of Materion stock in a transaction dated Thursday, November 1st. The shares were sold at an average price of $57.50, for a total transaction of $230,000.00. Following the sale, the vice president now directly owns 8,523 shares in the company, valued at approximately $490,072.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.40% of the stock is currently owned by insiders.

Separately, Zacks Investment Research upgraded shares of Materion from a “hold” rating to a “strong-buy” rating and set a $67.00 price target on the stock in a research report on Tuesday, October 30th. Two research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Materion presently has a consensus rating of “Buy” and an average price target of $57.50.

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Materion Company Profile

Materion Corp. engages in the production of engineered materials used in a variety of electrical, electronic, thermal, and structural applications. The company operates through the following segments: Performance Alloys and Composites, Advanced Materials and Other. The Performance Alloys and Composites segment produces strip and bulk form alloy products, strip metal products with clad inlay and overlay metals, beryllium-based metals, beryllium, and aluminum metal matrix composites, in rod, sheet, foil, and a variety of customized forms, beryllia ceramics, and bulk metallic glass material.

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Institutional Ownership by Quarter for Materion (NYSE:MTRN)

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