3,744 Shares in Materion Corp (MTRN) Acquired by GSA Capital Partners LLP

GSA Capital Partners LLP bought a new position in shares of Materion Corp (NYSE:MTRN) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 3,744 shares of the basic materials company’s stock, valued at approximately $203,000.

A number of other hedge funds have also bought and sold shares of MTRN. SG Americas Securities LLC bought a new position in Materion during the first quarter worth about $174,000. Cubist Systematic Strategies LLC lifted its holdings in Materion by 40.9% during the first quarter. Cubist Systematic Strategies LLC now owns 3,869 shares of the basic materials company’s stock worth $198,000 after acquiring an additional 1,124 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Materion during the second quarter worth about $231,000. Xact Kapitalforvaltning AB acquired a new stake in shares of Materion in the 1st quarter valued at about $233,000. Finally, Suntrust Banks Inc. acquired a new stake in shares of Materion in the 1st quarter valued at about $298,000. Hedge funds and other institutional investors own 89.49% of the company’s stock.

MTRN opened at $59.20 on Wednesday. Materion Corp has a 1 year low of $38.70 and a 1 year high of $65.10. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 34.42 and a beta of 0.96. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.69 and a current ratio of 3.48.

Materion (NYSE:MTRN) last released its quarterly earnings results on Thursday, July 26th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.03. Materion had a return on equity of 8.30% and a net margin of 1.88%. The firm had revenue of $309.10 million for the quarter, compared to the consensus estimate of $311.90 million. During the same quarter last year, the business posted $0.42 EPS. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. analysts expect that Materion Corp will post 2.14 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 5th. Shareholders of record on Tuesday, August 21st were paid a $0.105 dividend. This represents a $0.42 annualized dividend and a dividend yield of 0.71%. The ex-dividend date was Monday, August 20th. Materion’s dividend payout ratio is 24.42%.

MTRN has been the topic of several recent research reports. ValuEngine downgraded Materion from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 21st. Zacks Investment Research raised Materion from a “hold” rating to a “buy” rating and set a $69.00 price target on the stock in a research note on Tuesday, July 31st. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $58.50.

In other news, VP Joseph P. Kelley purchased 2,923 shares of the company’s stock in a transaction on Wednesday, August 8th. The shares were purchased at an average price of $63.74 per share, with a total value of $186,312.02. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Gregory R. Chemnitz sold 2,000 shares of Materion stock in a transaction dated Friday, August 3rd. The shares were sold at an average price of $63.31, for a total value of $126,620.00. Following the completion of the sale, the vice president now directly owns 12,523 shares in the company, valued at approximately $792,831.13. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.

Materion Profile

Materion Corporation manufactures and sells advanced engineered materials used in consumer electronics, industrial components, defense, medical, automotive electronics, telecommunications infrastructure, energy, commercial aerospace, science, services, and appliance markets worldwide. The company operates through Performance Alloys and Composites, Advanced Materials, and Precision Coatings segments.

Further Reading: What is intrinsic value?

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Institutional Ownership by Quarter for Materion (NYSE:MTRN)

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