abrdn plc Has $26.58 Million Stock Holdings in Materion Co. (NYSE:MTRN)

abrdn plc trimmed its stake in Materion Co. (NYSE:MTRN) by 11.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 204,272 shares of the basic materials company’s stock after selling 27,359 shares during the quarter. abrdn plc owned about 0.99% of Materion worth $26,582,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. CENTRAL TRUST Co lifted its position in shares of Materion by 529.0% during the fourth quarter. CENTRAL TRUST Co now owns 195 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 164 shares in the last quarter. Anchor Investment Management LLC bought a new stake in Materion in the fourth quarter worth about $137,000. AdvisorNet Financial Inc raised its position in Materion by 189.6% in the fourth quarter. AdvisorNet Financial Inc now owns 1,222 shares of the basic materials company’s stock worth $159,000 after acquiring an additional 800 shares during the period. Cullen Frost Bankers Inc. bought a new stake in Materion in the third quarter worth about $191,000. Finally, Wetzel Investment Advisors Inc. bought a new stake in Materion in the fourth quarter worth about $195,000. 93.56% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, KeyCorp lowered their price target on shares of Materion from $157.00 to $156.00 and set an “overweight” rating on the stock in a research report on Monday, April 1st.

Materion Stock Performance

NYSE MTRN opened at $119.89 on Wednesday. The company’s 50 day moving average is $129.62 and its 200-day moving average is $119.65. Materion Co. has a 12-month low of $92.23 and a 12-month high of $145.08. The company has a quick ratio of 1.05, a current ratio of 2.78 and a debt-to-equity ratio of 0.45. The firm has a market cap of $2.49 billion, a P/E ratio of 26.18 and a beta of 1.14.

Materion (NYSE:MTRN) last posted its quarterly earnings results on Thursday, February 15th. The basic materials company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.03. The company had revenue of $421.00 million for the quarter, compared to analyst estimates of $420.50 million. Materion had a net margin of 5.75% and a return on equity of 13.49%. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.49 earnings per share. Sell-side analysts predict that Materion Co. will post 6.03 earnings per share for the current year.

Materion Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Thursday, February 22nd were paid a dividend of $0.13 per share. The ex-dividend date was Wednesday, February 21st. This represents a $0.52 annualized dividend and a yield of 0.43%. Materion’s dividend payout ratio is currently 11.35%.

Insider Activity at Materion

In related news, CFO Shelly Marie Chadwick sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $132.60, for a total transaction of $265,200.00. Following the completion of the transaction, the chief financial officer now owns 13,147 shares of the company’s stock, valued at $1,743,292.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Materion news, CFO Shelly Marie Chadwick sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $132.60, for a total value of $265,200.00. Following the completion of the transaction, the chief financial officer now owns 13,147 shares of the company’s stock, valued at approximately $1,743,292.20. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Gregory R. Chemnitz sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $133.74, for a total transaction of $401,220.00. Following the completion of the transaction, the vice president now directly owns 14,510 shares of the company’s stock, valued at approximately $1,940,567.40. The disclosure for this sale can be found here. 2.60% of the stock is owned by corporate insiders.

Materion Company 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.