New York State Teachers Retirement System Has $1.79 Million Stock Position in Materion Corporation $MTRN

New York State Teachers Retirement System cut its holdings in shares of Materion Corporation (NYSE:MTRN) by 7.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 22,572 shares of the basic materials company’s stock after selling 1,822 shares during the quarter. New York State Teachers Retirement System owned 0.11% of Materion worth $1,792,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. GAMMA Investing LLC boosted its holdings in shares of Materion by 722.2% during the first quarter. GAMMA Investing LLC now owns 2,146 shares of the basic materials company’s stock worth $175,000 after purchasing an additional 1,885 shares during the period. Teacher Retirement System of Texas purchased a new stake in Materion in the 1st quarter worth approximately $248,000. Principal Financial Group Inc. lifted its position in Materion by 2.3% in the 1st quarter. Principal Financial Group Inc. now owns 103,572 shares of the basic materials company’s stock worth $8,451,000 after buying an additional 2,369 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Materion by 0.9% during the 1st quarter. Nisa Investment Advisors LLC now owns 23,312 shares of the basic materials company’s stock valued at $1,902,000 after buying an additional 218 shares during the period. Finally, MQS Management LLC purchased a new position in shares of Materion during the 1st quarter valued at $212,000. Institutional investors and hedge funds own 93.56% of the company’s stock.

Insiders Place Their Bets

In other news, VP Gregory R. Chemnitz sold 3,000 shares of the firm’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $105.17, for a total value of $315,510.00. Following the completion of the sale, the vice president directly owned 10,376 shares in the company, valued at approximately $1,091,243.92. This trade represents a 22.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director N Mohan Reddy sold 1,155 shares of the company’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $105.45, for a total transaction of $121,794.75. The disclosure for this sale can be found here. Insiders sold a total of 5,295 shares of company stock valued at $557,392 in the last quarter. Insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

MTRN has been the subject of several recent research reports. Zacks Research lowered Materion from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. KeyCorp upped their target price on Materion from $115.00 to $117.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 13th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Materion in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded Materion from a “hold” rating to a “buy” rating in a report on Saturday. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Materion currently has an average rating of “Hold” and an average price target of $117.00.

Materion Stock Performance

MTRN opened at $130.47 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.25 and a current ratio of 3.17. The company has a market cap of $2.70 billion, a PE ratio of 163.09 and a beta of 0.91. The stock has a 50-day moving average of $117.59 and a 200-day moving average of $95.63. Materion Corporation has a 52-week low of $69.10 and a 52-week high of $134.51.

Materion (NYSE:MTRN) last posted its earnings results on Wednesday, March 22nd. The basic materials company reported $1.03 earnings per share for the quarter. The firm had revenue of $230.20 million during the quarter. Materion had a return on equity of 12.69% and a net margin of 0.94%. As a group, equities research analysts forecast that Materion Corporation will post 5.5 earnings per share for the current fiscal year.

Materion Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 22nd were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.4%. The ex-dividend date was Friday, August 22nd. Materion’s dividend payout ratio (DPR) is 70.00%.

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.