Pinnacle Associates Ltd. Raises Position in Materion Corporation $MTRN

Pinnacle Associates Ltd. lifted its stake in Materion Corporation (NYSE:MTRN) by 19.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,950 shares of the basic materials company’s stock after acquiring an additional 2,130 shares during the quarter. Pinnacle Associates Ltd. owned 0.06% of Materion worth $1,028,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Trigran Investments Inc. grew its position in Materion by 7.7% during the first quarter. Trigran Investments Inc. now owns 794,765 shares of the basic materials company’s stock valued at $64,853,000 after buying an additional 56,935 shares during the period. Copeland Capital Management LLC grew its position in Materion by 16.0% during the second quarter. Copeland Capital Management LLC now owns 465,746 shares of the basic materials company’s stock valued at $36,966,000 after buying an additional 64,289 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Materion by 41.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 289,106 shares of the basic materials company’s stock valued at $23,592,000 after buying an additional 84,482 shares during the period. Northern Trust Corp grew its position in Materion by 2.3% during the first quarter. Northern Trust Corp now owns 288,611 shares of the basic materials company’s stock valued at $23,551,000 after buying an additional 6,598 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Materion by 1.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 268,644 shares of the basic materials company’s stock valued at $21,921,000 after buying an additional 4,447 shares during the period. 93.56% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MTRN has been the topic of several analyst reports. KeyCorp lifted their price target on shares of Materion from $115.00 to $117.00 and gave the company an “overweight” rating in a report on Wednesday, August 13th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Materion in a report on Wednesday, October 8th. Zacks Research downgraded shares of Materion from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Finally, Wall Street Zen downgraded shares of Materion from a “buy” rating to a “hold” rating in a report on Saturday. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Materion presently has a consensus rating of “Hold” and a consensus target price of $117.00.

Materion Stock Performance

MTRN stock opened at $114.56 on Tuesday. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of 120.59 and a beta of 0.91. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.25 and a current ratio of 3.28. The firm has a 50-day simple moving average of $119.90 and a two-hundred day simple moving average of $98.93. Materion Corporation has a one year low of $69.10 and a one year high of $135.33.

Materion (NYSE:MTRN) last announced its quarterly earnings data on Wednesday, March 22nd. The basic materials company reported $1.03 EPS for the quarter. Materion had a net margin of 1.12% and a return on equity of 12.66%. The firm had revenue of $230.20 million during the quarter. On average, equities analysts forecast that Materion Corporation will post 5.5 EPS for the current fiscal year.

Materion Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Thursday, November 13th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.5%. The ex-dividend date is Thursday, November 13th. Materion’s dividend payout ratio is 58.95%.

Insider Activity at Materion

In other news, Director N Mohan Reddy sold 1,155 shares of the firm’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $105.45, for a total transaction of $121,794.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.60% of the stock is owned by insiders.

About Materion

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.