Short Interest in Materion Co. (NYSE:MTRN) Drops By 21.4%

Materion Co. (NYSE:MTRN) was the target of a large decrease in short interest in March. As of March 31st, there was short interest totalling 262,100 shares, a decrease of 21.4% from the March 15th total of 333,500 shares. Based on an average trading volume of 131,600 shares, the days-to-cover ratio is presently 2.0 days. Currently, 1.3% of the company’s stock are short sold.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Gilman Hill Asset Management LLC raised its stake in shares of Materion by 10.3% during the 1st quarter. Gilman Hill Asset Management LLC now owns 14,312 shares of the basic materials company’s stock worth $948,000 after buying an additional 1,335 shares in the last quarter. Norges Bank purchased a new position in shares of Materion during the 4th quarter worth approximately $26,517,000. Hsbc Holdings PLC purchased a new position in shares of Materion during the 4th quarter worth approximately $214,000. JPMorgan Chase & Co. raised its stake in shares of Materion by 51.4% during the 4th quarter. JPMorgan Chase & Co. now owns 55,437 shares of the basic materials company’s stock worth $3,532,000 after buying an additional 18,812 shares in the last quarter. Finally, Truist Financial Corp raised its stake in shares of Materion by 14.2% during the 4th quarter. Truist Financial Corp now owns 6,274 shares of the basic materials company’s stock worth $400,000 after buying an additional 779 shares in the last quarter. 86.04% of the stock is owned by hedge funds and other institutional investors.

Several analysts have recently weighed in on the company. TheStreet downgraded Materion from a “b” rating to a “c+” rating in a report on Thursday, April 1st. Zacks Investment Research downgraded Materion from a “buy” rating to a “hold” rating in a report on Tuesday, February 23rd. Finally, KeyCorp boosted their target price on Materion from $68.00 to $80.00 and gave the company an “overweight” rating in a report on Tuesday, January 26th.

MTRN traded down $0.76 on Monday, hitting $67.03. 57,680 shares of the company traded hands, compared to its average volume of 126,607. The company has a 50 day moving average of $69.69 and a 200-day moving average of $63.71. The company has a quick ratio of 1.16, a current ratio of 2.00 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $1.37 billion, a PE ratio of 55.86 and a beta of 1.47. Materion has a 12-month low of $40.67 and a 12-month high of $80.70.

Materion (NYSE:MTRN) last posted its quarterly earnings data on Wednesday, February 17th. The basic materials company reported $0.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.12. The firm had revenue of $339.69 million during the quarter, compared to the consensus estimate of $292.15 million. Materion had a return on equity of 7.29% and a net margin of 2.22%. On average, research analysts anticipate that Materion will post 2.05 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 5th. Shareholders of record on Wednesday, February 17th were paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend was Tuesday, February 16th. Materion’s dividend payout ratio is presently 14.42%.

Materion Company Profile

Materion Corporation manufactures and sells advanced engineered materials used in semiconductor, industrial, aerospace and defense, automotive, energy, consumer electronics, and telecom and data center markets in the United States, Asia, Europe, and internationally. It operates through Performance Alloys and Composites, Advanced Materials, and Precision Optics segments.

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