New York State Common Retirement Fund Raises Holdings in Materion Corp (NYSE:MTRN)

New York State Common Retirement Fund raised its stake in Materion Corp (NYSE:MTRN) by 1.5% in the first quarter, HoldingsChannel.com reports. The fund owned 56,818 shares of the basic materials company’s stock after buying an additional 818 shares during the quarter. New York State Common Retirement Fund’s holdings in Materion were worth $3,242,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of MTRN. BlackRock Inc. raised its holdings in shares of Materion by 3.2% during the fourth quarter. BlackRock Inc. now owns 3,091,415 shares of the basic materials company’s stock valued at $139,084,000 after buying an additional 95,302 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of Materion by 5.0% in the fourth quarter. Acadian Asset Management LLC now owns 734,609 shares of the basic materials company’s stock valued at $33,049,000 after buying an additional 34,870 shares in the last quarter. Norges Bank bought a new position in shares of Materion in the fourth quarter valued at $20,752,000. Geode Capital Management LLC increased its holdings in shares of Materion by 9.0% in the fourth quarter. Geode Capital Management LLC now owns 213,511 shares of the basic materials company’s stock valued at $9,605,000 after buying an additional 17,693 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Materion by 636.4% in the first quarter. Assenagon Asset Management S.A. now owns 206,264 shares of the basic materials company’s stock valued at $11,769,000 after buying an additional 178,256 shares in the last quarter. Institutional investors own 92.10% of the company’s stock.

NYSE MTRN opened at $65.19 on Wednesday. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of 27.39 and a beta of 0.90. Materion Corp has a 1 year low of $42.50 and a 1 year high of $71.97. The company has a current ratio of 3.32, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Materion (NYSE:MTRN) last posted its quarterly earnings data on Thursday, May 2nd. The basic materials company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.22. Materion had a net margin of 2.25% and a return on equity of 10.20%. The firm had revenue of $301.44 million for the quarter, compared to analysts’ expectations of $297.70 million. During the same period in the previous year, the company posted $0.51 EPS. The company’s quarterly revenue was down .7% compared to the same quarter last year. As a group, analysts anticipate that Materion Corp will post 3.03 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Monday, May 20th were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.67%. This is a boost from Materion’s previous quarterly dividend of $0.11. The ex-dividend date was Friday, May 17th. Materion’s payout ratio is presently 18.49%.

In other news, Director Craig S. Shular sold 4,127 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $63.08, for a total transaction of $260,331.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Vinod M. Khilnani sold 1,855 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $65.84, for a total transaction of $122,133.20. Following the transaction, the director now owns 16,466 shares in the company, valued at $1,084,121.44. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

Several research analysts have issued reports on MTRN shares. ValuEngine raised Materion from a “hold” rating to a “buy” rating in a report on Thursday, February 14th. Zacks Investment Research cut Materion from a “buy” rating to a “hold” rating in a report on Thursday, February 21st.

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About Materion

Materion Corporation manufactures and sells advanced engineered materials used in consumer electronics, industrial components, defense, medical, automotive electronics, telecommunications infrastructure, energy, commercial aerospace, science, services, and appliance markets worldwide. The company operates in four segments: Performance Alloys and Composites, Advanced Materials, Precision Coatings, and Other.

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Institutional Ownership by Quarter for Materion (NYSE:MTRN)

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