Eagle Asset Management Inc. Lowers Stake in Materion Co. (NYSE:MTRN)

Eagle Asset Management Inc. lessened its position in shares of Materion Co. (NYSE:MTRN) by 12.4% in the third quarter, Holdings Channel.com reports. The fund owned 44,206 shares of the basic materials company’s stock after selling 6,269 shares during the quarter. Eagle Asset Management Inc.’s holdings in Materion were worth $5,276,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in MTRN. Opal Wealth Advisors LLC purchased a new stake in shares of Materion in the second quarter worth about $25,000. Quest Partners LLC boosted its position in shares of Materion by 25,600.0% in the second quarter. Quest Partners LLC now owns 257 shares of the basic materials company’s stock worth $28,000 after buying an additional 256 shares during the period. Lynx Investment Advisory purchased a new stake in shares of Materion in the second quarter worth about $38,000. ARK Investment Management LLC purchased a new stake in shares of Materion in the third quarter worth about $85,000. Finally, Brown Lisle Cummings Inc. purchased a new stake in shares of Materion in the second quarter worth about $92,000. Hedge funds and other institutional investors own 93.56% of the company’s stock.

Materion Trading Up 3.4 %

NYSE:MTRN opened at $116.76 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.26 and a current ratio of 3.15. Materion Co. has a one year low of $96.18 and a one year high of $145.08. The business’s 50-day simple moving average is $108.77 and its 200 day simple moving average is $110.50. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of 32.89 and a beta of 1.19.

Materion (NYSE:MTRN) last released its quarterly earnings results on Wednesday, October 30th. The basic materials company reported $1.41 EPS for the quarter, hitting the consensus estimate of $1.41. Materion had a return on equity of 12.06% and a net margin of 4.45%. The business had revenue of $436.70 million for the quarter, compared to analysts’ expectations of $416.40 million. During the same quarter in the previous year, the firm posted $1.39 earnings per share. The company’s revenue was up 8.3% compared to the same quarter last year. As a group, sell-side analysts predict that Materion Co. will post 5.24 earnings per share for the current fiscal year.

Materion Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Thursday, November 14th will be paid a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 0.46%. The ex-dividend date is Thursday, November 14th. Materion’s payout ratio is currently 15.21%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Materion from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th.

Insider Buying and Selling at Materion

In other news, VP Gregory R. Chemnitz sold 2,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $117.57, for a total transaction of $235,140.00. Following the sale, the vice president now directly owns 12,031 shares in the company, valued at approximately $1,414,484.67. This represents a 14.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.30% of the stock is currently owned by insiders.

Materion Profile

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.