State of Wyoming Increases Holdings in Materion Co. (NYSE:MTRN)

State of Wyoming boosted its holdings in shares of Materion Co. (NYSE:MTRN) by 5.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,054 shares of the basic materials company’s stock after purchasing an additional 638 shares during the period. State of Wyoming owned about 0.06% of Materion worth $1,192,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Snowden Capital Advisors LLC grew its holdings in shares of Materion by 6.0% during the 4th quarter. Snowden Capital Advisors LLC now owns 4,613 shares of the basic materials company’s stock worth $456,000 after acquiring an additional 263 shares during the period. ProShare Advisors LLC grew its holdings in shares of Materion by 5.7% during the 4th quarter. ProShare Advisors LLC now owns 75,504 shares of the basic materials company’s stock worth $7,466,000 after acquiring an additional 4,076 shares during the period. Millennium Management LLC grew its holdings in shares of Materion by 290.6% during the 4th quarter. Millennium Management LLC now owns 57,907 shares of the basic materials company’s stock worth $5,726,000 after acquiring an additional 43,083 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Materion by 5.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 204,624 shares of the basic materials company’s stock worth $20,233,000 after acquiring an additional 11,201 shares during the period. Finally, Graham Capital Management L.P. purchased a new position in shares of Materion during the 4th quarter worth approximately $300,000. Hedge funds and other institutional investors own 93.56% of the company’s stock.

Analysts Set New Price Targets

Separately, KeyCorp reiterated a “sector weight” rating on shares of Materion in a report on Wednesday, May 7th.

Materion Stock Performance

MTRN stock opened at $79.52 on Friday. The stock has a market capitalization of $1.66 billion, a PE ratio of 274.19 and a beta of 0.85. Materion Co. has a 12-month low of $69.10 and a 12-month high of $123.21. The company has a current ratio of 3.19, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48. The stock’s 50 day simple moving average is $80.56 and its 200 day simple moving average is $95.45.

Materion (NYSE:MTRN) last released its quarterly earnings data on Thursday, May 1st. The basic materials company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.01. The business had revenue of $420.33 million for the quarter, compared to analysts’ expectations of $396.83 million. Materion had a return on equity of 12.42% and a net margin of 0.35%. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.96 EPS. As a group, research analysts forecast that Materion Co. will post 5.5 earnings per share for the current fiscal year.

Materion Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 29th will be given a $0.14 dividend. The ex-dividend date is Thursday, May 29th. This is a boost from Materion’s previous quarterly dividend of $0.14. This represents a $0.56 annualized dividend and a yield of 0.70%. Materion’s dividend payout ratio is 112.00%.

Insider Activity at Materion

In other news, VP Gregory R. Chemnitz sold 2,000 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $80.45, for a total transaction of $160,900.00. Following the transaction, the vice president now directly owns 13,376 shares of the company’s stock, valued at $1,076,099.20. This represents a 13.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.60% 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.