Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Materion Co. (NYSE:MTRN – Free Report) by 7.2% during the second quarter, Holdings Channel.com reports. The fund owned 23,296 shares of the basic materials company’s stock after buying an additional 1,560 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Materion were worth $2,660,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of MTRN. American Century Companies Inc. bought a new stake in shares of Materion in the first quarter worth about $392,000. Citigroup Inc. increased its holdings in shares of Materion by 11.8% in the first quarter. Citigroup Inc. now owns 17,656 shares of the basic materials company’s stock worth $1,514,000 after purchasing an additional 1,861 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Materion by 7.5% in the first quarter. Bank of Montreal Can now owns 7,835 shares of the basic materials company’s stock worth $682,000 after purchasing an additional 544 shares during the last quarter. MetLife Investment Management LLC increased its holdings in shares of Materion by 50.4% in the first quarter. MetLife Investment Management LLC now owns 11,008 shares of the basic materials company’s stock worth $944,000 after purchasing an additional 3,687 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of Materion by 2.6% in the first quarter. Rhumbline Advisers now owns 61,589 shares of the basic materials company’s stock worth $5,281,000 after purchasing an additional 1,545 shares during the last quarter. 92.46% of the stock is owned by institutional investors.
Insider Buying and Selling
In other Materion news, VP Gregory R. Chemnitz sold 320 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $107.11, for a total transaction of $34,275.20. Following the completion of the transaction, the vice president now owns 18,990 shares in the company, valued at $2,034,018.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.30% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
Materion Trading Down 1.9 %
MTRN opened at $113.45 on Tuesday. The firm has a market cap of $2.34 billion, a P/E ratio of 22.55 and a beta of 1.11. Materion Co. has a 12 month low of $74.90 and a 12 month high of $123.41. The company has a current ratio of 3.27, a quick ratio of 1.19 and a debt-to-equity ratio of 0.50. The stock has a 50-day moving average of $102.41 and a 200 day moving average of $106.75.
Materion Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Thursday, November 16th will be given a $0.13 dividend. The ex-dividend date is Wednesday, November 15th. This represents a $0.52 annualized dividend and a yield of 0.46%. Materion’s dividend payout ratio is currently 10.34%.
Materion Corporation, through 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. It operates through Performance Materials, Electronic Materials, and Precision Optics segments.
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