Northern Trust Corp boosted its stake in Materion Corp (NYSE:MTRN) by 2.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 906,794 shares of the basic materials company’s stock after buying an additional 24,404 shares during the quarter. Northern Trust Corp’s holdings in Materion were worth $49,103,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Itau Unibanco Holding S.A. bought a new position in Materion in the 2nd quarter valued at $112,000. AMP Capital Investors Ltd bought a new position in Materion in the 2nd quarter valued at $201,000. GSA Capital Partners LLP bought a new position in Materion in the 2nd quarter valued at $203,000. Cubist Systematic Strategies LLC raised its position in Materion by 40.9% in the 1st quarter. Cubist Systematic Strategies LLC now owns 3,869 shares of the basic materials company’s stock valued at $198,000 after purchasing an additional 1,124 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Materion in the 2nd quarter valued at $231,000. 89.49% of the stock is currently owned by institutional investors and hedge funds.

MTRN has been the subject of several research analyst reports. Zacks Investment Research upgraded Materion from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Wednesday, June 27th. ValuEngine downgraded Materion from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 21st. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $58.50.

In other news, VP Gregory R. Chemnitz sold 2,000 shares of the business’s stock in a transaction on Friday, August 3rd. The stock was sold at an average price of $63.31, for a total transaction of $126,620.00. Following the completion of the sale, the vice president now owns 12,523 shares in the company, valued at $792,831.13. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Joseph P. Kelley bought 2,923 shares of the company’s stock in a transaction dated 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 disclosure for this purchase can be found here. Insiders own 1.40% of the company’s stock.

MTRN stock opened at $55.38 on Friday. The firm has a market cap of $1.22 billion, a PE ratio of 32.20 and a beta of 0.94. Materion Corp has a twelve month low of $42.10 and a twelve month high of $65.10. The company has a quick ratio of 1.69, a current ratio of 3.48 and a debt-to-equity ratio of 0.04.

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

Materion Company 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.

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Institutional Ownership by Quarter for Materion (NYSE:MTRN)

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