New York State Common Retirement Fund decreased its holdings in Materion Co. (NYSE:MTRN – Get Rating) by 9.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 55,412 shares of the basic materials company’s stock after selling 5,818 shares during the period. New York State Common Retirement Fund owned 0.27% of Materion worth $4,433,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in MTRN. Whittier Trust Co. bought a new position in shares of Materion in the 3rd quarter valued at about $40,000. Huntington National Bank lifted its stake in Materion by 100,000.0% in the third quarter. Huntington National Bank now owns 1,001 shares of the basic materials company’s stock worth $80,000 after purchasing an additional 1,000 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in Materion by 1,385.4% in the second quarter. First Horizon Advisors Inc. now owns 1,426 shares of the basic materials company’s stock worth $104,000 after purchasing an additional 1,330 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in Materion in the second quarter worth about $111,000. Finally, Ellevest Inc. lifted its stake in Materion by 30.4% in the third quarter. Ellevest Inc. now owns 1,536 shares of the basic materials company’s stock worth $123,000 after purchasing an additional 358 shares during the last quarter. Institutional investors own 95.66% of the company’s stock.
Analysts Set New Price Targets
Separately, KeyCorp raised their price objective on shares of Materion from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 21st.
Materion Stock Up 1.3 %
Shares of NYSE MTRN opened at $86.96 on Tuesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.51 and a quick ratio of 1.43. The company has a market cap of $1.79 billion, a P/E ratio of 23.44 and a beta of 1.12. Materion Co. has a 1 year low of $64.89 and a 1 year high of $97.89. The firm has a 50-day simple moving average of $88.52 and a two-hundred day simple moving average of $84.92.
Materion Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, March 10th. Stockholders of record on Thursday, February 23rd will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date is Wednesday, February 22nd. Materion’s dividend payout ratio (DPR) is presently 13.48%.
About Materion
Materion Corp. engages in the production of engineered materials used in a variety of electrical, electronic, thermal, and structural applications. The company operates through the following segments: Performance Alloys and Composites, Advanced Materials, Precision Coatings and Other. The Performance Alloys and Composites segment produces strip and bulk form alloy products, strip metal products with clad inlay and overlay metals, beryllium-based metals, beryllium, and aluminum metal matrix composites, in rod, sheet, foil, and a variety of customized forms, beryllium ceramics, and bulk metallic glass material.
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