2,200 Materion Corporation $MTRN Shares Bought by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al increased its holdings in shares of Materion Corporation (NYSE:MTRN) by 48.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,700 shares of the basic materials company’s stock after acquiring an additional 2,200 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Materion were worth $1,806,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Choreo LLC grew its stake in Materion by 10.2% in the 3rd quarter. Choreo LLC now owns 1,320 shares of the basic materials company’s stock valued at $356,000 after purchasing an additional 122 shares during the period. EULAV Asset Management purchased a new stake in shares of Materion during the 3rd quarter valued at $2,399,000. Citizens Financial Group Inc. RI raised its stake in shares of Materion by 7.4% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 3,050 shares of the basic materials company’s stock worth $822,000 after purchasing an additional 211 shares during the period. Gibbs Wealth Management bought a new stake in shares of Materion during the 3rd quarter worth $441,000. Finally, Sterling Capital Management LLC raised its stake in shares of Materion by 836.5% during the 3rd quarter. Sterling Capital Management LLC now owns 693 shares of the basic materials company’s stock worth $187,000 after purchasing an additional 619 shares during the period. Hedge funds and other institutional investors own 93.56% of the company’s stock.

Insider Buying and Selling

In other news, CFO Shelly Chadwick sold 1,705 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $293.00, for a total value of $499,565.00. Following the completion of the transaction, the chief financial officer directly owned 15,246 shares of the company’s stock, valued at $4,467,078. This trade represents a 10.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Emily Liggett sold 1,012 shares of the firm’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $232.42, for a total value of $235,209.04. Following the completion of the transaction, the director directly owned 3,161 shares of the company’s stock, valued at $734,679.62. The trade was a 24.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 29,053 shares of company stock worth $8,301,958. Insiders own 2.80% of the company’s stock.

Materion Stock Performance

Shares of MTRN stock opened at $227.46 on Wednesday. The stock has a market capitalization of $4.74 billion, a P/E ratio of 53.02 and a beta of 1.10. The company has a current ratio of 2.94, a quick ratio of 1.29 and a debt-to-equity ratio of 0.44. The firm’s 50 day moving average is $252.78 and its 200 day moving average is $212.29. Materion Corporation has a 12 month low of $110.69 and a 12 month high of $324.98.

Materion (NYSE:MTRN) last released its quarterly earnings data on Wednesday, August 5th. The basic materials company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.38. Materion had a net margin of 4.29% and a return on equity of 13.38%. The business had revenue of $308.19 million during the quarter, compared to analyst estimates of $549.82 million. During the same period in the previous year, the business earned $1.37 EPS. Materion’s revenue was up 42.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Materion Corporation will post 7.04 earnings per share for the current year.

Materion Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Thursday, November 19th will be given a dividend of $0.1450 per share. The ex-dividend date is Thursday, November 19th. This represents a $0.58 annualized dividend and a dividend yield of 0.3%. Materion’s dividend payout ratio is currently 13.52%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group began coverage on shares of Materion in a report on Wednesday, September 2nd. They issued a “buy” rating and a $314.00 price target on the stock. Wall Street Zen upgraded shares of Materion from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. KeyCorp raised their price objective on shares of Materion from $237.00 to $306.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Zacks Research lowered shares of Materion from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Finally, Weiss Ratings cut shares of Materion from a “buy (b-)” rating to a “hold (c)” rating in a research note on Thursday, October 29th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $310.00.

About Materion

Materion Corporation is an advanced materials company that develops, manufactures and supplies engineered materials for demanding applications. Its product portfolio includes beryllium and beryllium-aluminum alloys, specialty metals, precious-metal and clad materials, thin-film coating materials, optical filters and other precision components.

The company’s materials and products are used in aerospace and defense, semiconductor manufacturing, communications, medical technology, energy, automotive and other industrial markets.