New York State Teachers Retirement System Has $1.79 Million Stock Position in Materion Corporation $MTRN

New York State Teachers Retirement System lowered its position in shares of Materion Corporation (NYSE:MTRN) by 7.5% in the second quarter, HoldingsChannel reports. The fund owned 22,572 shares of the basic materials company’s stock after selling 1,822 shares during the period. New York State Teachers Retirement System’s holdings in Materion were worth $1,792,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in MTRN. Inspire Investing LLC boosted its holdings in shares of Materion by 4.0% in the first quarter. Inspire Investing LLC now owns 4,209 shares of the basic materials company’s stock valued at $343,000 after buying an additional 160 shares during the period. Nisa Investment Advisors LLC boosted its stake in Materion by 0.9% in the 1st quarter. Nisa Investment Advisors LLC now owns 23,312 shares of the basic materials company’s stock worth $1,902,000 after purchasing an additional 218 shares during the period. Victory Capital Management Inc. raised its stake in shares of Materion by 3.2% in the 1st quarter. Victory Capital Management Inc. now owns 8,124 shares of the basic materials company’s stock valued at $663,000 after purchasing an additional 250 shares during the period. Avantax Advisory Services Inc. lifted its holdings in shares of Materion by 7.8% in the first quarter. Avantax Advisory Services Inc. now owns 3,735 shares of the basic materials company’s stock valued at $305,000 after purchasing an additional 271 shares in the last quarter. Finally, Jones Financial Companies Lllp acquired a new position in shares of Materion during the first quarter worth about $34,000. Institutional investors own 93.56% of the company’s stock.

Materion Trading Down 2.8%

Shares of Materion stock opened at $130.47 on Wednesday. The firm’s 50-day moving average price is $117.59 and its two-hundred day moving average price is $95.63. The company has a market capitalization of $2.70 billion, a price-to-earnings ratio of 163.09 and a beta of 0.91. The company has a quick ratio of 1.25, a current ratio of 3.17 and a debt-to-equity ratio of 0.46. Materion Corporation has a 12-month low of $69.10 and a 12-month high of $134.51.

Materion (NYSE:MTRN) last posted its quarterly earnings results on Wednesday, March 22nd. The basic materials company reported $1.03 earnings per share (EPS) for the quarter. The business had revenue of $230.20 million for the quarter. Materion had a net margin of 0.94% and a return on equity of 12.69%. On average, analysts forecast that Materion Corporation will post 5.5 earnings per share for the current fiscal year.

Materion Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 22nd were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Friday, August 22nd. Materion’s dividend payout ratio is currently 70.00%.

Insider Activity at Materion

In other Materion news, Director N Mohan Reddy sold 1,155 shares of the business’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $105.45, for a total transaction of $121,794.75. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Melissa A. Fashinpaur sold 1,140 shares of the firm’s stock in a transaction on Monday, August 4th. The shares were sold at an average price of $105.34, for a total value of $120,087.60. The disclosure for this sale can be found here. Insiders sold a total of 5,295 shares of company stock valued at $557,392 in the last quarter. Insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

MTRN has been the topic of a number of recent research reports. KeyCorp lifted their target price on Materion from $115.00 to $117.00 and gave the company an “overweight” rating in a research report on Wednesday, August 13th. Zacks Research downgraded shares of Materion from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Weiss Ratings restated a “hold (c-)” rating on shares of Materion in a report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Materion from a “hold” rating to a “buy” rating in a research report on Saturday. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $117.00.

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.