Gregory R. Chemnitz Sells 3,000 Shares of Materion Corporation (MTRN) Stock
Materion Corporation (NYSE:MTRN) VP Gregory R. Chemnitz sold 3,000 shares of the stock in a transaction on Monday, July 31st. The shares were sold at an average price of $38.29, for a total transaction of $114,870.00. Following the sale, the vice president now directly owns 18,052 shares of the company’s stock, valued at approximately $691,211.08. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Materion Corporation (MTRN) traded down 0.13% during mid-day trading on Friday, reaching $37.70. 70,862 shares of the company’s stock were exchanged. The firm has a market capitalization of $755.43 million, a P/E ratio of 30.43 and a beta of 1.16. The company’s 50-day moving average is $37.83 and its 200 day moving average is $36.05. Materion Corporation has a one year low of $27.20 and a one year high of $41.23.
Materion Corporation (NYSE:MTRN) last posted its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.02. Materion Corporation had a net margin of 2.47% and a return on equity of 5.96%. The firm had revenue of $295.80 million for the quarter, compared to the consensus estimate of $254.28 million. During the same quarter in the prior year, the company posted $0.31 earnings per share. The company’s revenue for the quarter was up 18.4% compared to the same quarter last year. Equities analysts predict that Materion Corporation will post $1.52 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Friday, August 18th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $0.40 annualized dividend and a dividend yield of 1.06%. Materion Corporation’s dividend payout ratio (DPR) is currently 32.26%.
Several research analysts have commented on the stock. BidaskClub upgraded shares of Materion Corporation from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 2nd. Zacks Investment Research upgraded shares of Materion Corporation from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a research note on Saturday, May 27th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $34.00 price target on shares of Materion Corporation in a research note on Friday, July 7th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $36.67.
Several institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. increased its position in Materion Corporation by 0.7% in the second quarter. PNC Financial Services Group Inc. now owns 5,130 shares of the basic materials company’s stock valued at $193,000 after buying an additional 34 shares during the period. Louisiana State Employees Retirement System raised its stake in shares of Materion Corporation by 1.3% in the first quarter. Louisiana State Employees Retirement System now owns 8,100 shares of the basic materials company’s stock worth $272,000 after buying an additional 100 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Materion Corporation by 1.0% in the first quarter. Arizona State Retirement System now owns 10,412 shares of the basic materials company’s stock worth $349,000 after buying an additional 100 shares in the last quarter. Texas Permanent School Fund raised its stake in shares of Materion Corporation by 1.0% in the second quarter. Texas Permanent School Fund now owns 14,592 shares of the basic materials company’s stock worth $546,000 after buying an additional 148 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in shares of Materion Corporation by 0.6% in the second quarter. Nisa Investment Advisors LLC now owns 23,280 shares of the basic materials company’s stock worth $871,000 after buying an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.
About Materion Corporation
Materion Corporation, through its subsidiaries, is an integrated producer of engineered materials used in a range of electrical, electronic, thermal, and structural applications. The Company operates in four segments: Performance Alloys and Composites, Advanced Materials, Precision Coatings, and Other.
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