Swiss National Bank held its position in shares of Materion Corporation (NYSE:MTRN) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,300 shares of the basic materials company’s stock at the close of the second quarter. Swiss National Bank owned approximately 0.17% of Materion Corporation worth $1,283,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. BlackRock Inc. increased its position in Materion Corporation by 12,689.6% in the 1st quarter. BlackRock Inc. now owns 2,645,014 shares of the basic materials company’s stock worth $88,740,000 after purchasing an additional 2,624,333 shares during the last quarter. Vanguard Group Inc. increased its position in Materion Corporation by 6.1% in the 1st quarter. Vanguard Group Inc. now owns 1,879,751 shares of the basic materials company’s stock worth $63,066,000 after purchasing an additional 108,041 shares during the last quarter. Bank of Montreal Can acquired a new position in Materion Corporation in the 2nd quarter worth about $1,944,000. Systematic Financial Management LP acquired a new position in Materion Corporation in the 1st quarter worth about $1,672,000. Finally, AQR Capital Management LLC increased its position in Materion Corporation by 30.0% in the 1st quarter. AQR Capital Management LLC now owns 206,380 shares of the basic materials company’s stock worth $6,924,000 after purchasing an additional 47,605 shares during the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have recently issued reports on MTRN shares. Jefferies Group LLC reiterated a “hold” rating and set a $36.00 price target on shares of Materion Corporation in a research note on Thursday. BidaskClub downgraded Materion Corporation from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 10th. Finally, Zacks Investment Research downgraded Materion Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday.
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Shares of Materion Corporation (NYSE MTRN) opened at 42.85 on Friday. The company has a market cap of $858.63 million, a P/E ratio of 34.58 and a beta of 1.14. Materion Corporation has a 1-year low of $28.50 and a 1-year high of $44.80. The stock’s 50 day moving average price is $40.04 and its 200 day moving average price is $37.08.
Materion Corporation (NYSE:MTRN) last released its earnings results on Thursday, July 27th. The basic materials company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. The business had revenue of $295.80 million for the quarter, compared to the consensus estimate of $254.28 million. Materion Corporation had a return on equity of 5.96% and a net margin of 2.47%. Materion Corporation’s quarterly revenue was up 18.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.31 earnings per share. Equities research analysts forecast that Materion Corporation will post $1.52 earnings per share for the current year.
In other Materion Corporation news, VP Gregory R. Chemnitz sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $38.29, for a total transaction of $114,870.00. Following the transaction, the vice president now owns 18,052 shares of the company’s stock, valued at $691,211.08. The sale was disclosed in a document filed with the SEC, which is available through this link. 2.90% of the stock is currently owned by insiders.
Materion Corporation Profile
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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