UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Materion Corporation (NYSE:MTRN – Free Report) by 44.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 61,472 shares of the basic materials company’s stock after buying an additional 18,926 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.30% of Materion worth $18,281,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Materion during the 2nd quarter valued at $1,032,985,000. State Street Corp raised its stake in shares of Materion by 28.0% in the second quarter. State Street Corp now owns 1,298,956 shares of the basic materials company’s stock worth $103,098,000 after purchasing an additional 283,998 shares during the last quarter. Trigran Investments Inc. raised its stake in shares of Materion by 0.5% in the second quarter. Trigran Investments Inc. now owns 798,747 shares of the basic materials company’s stock worth $63,397,000 after purchasing an additional 3,982 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Materion during the second quarter valued at $132,656,000. Finally, Morgan Stanley lifted its holdings in shares of Materion by 12.2% during the fourth quarter. Morgan Stanley now owns 429,482 shares of the basic materials company’s stock valued at $53,393,000 after purchasing an additional 46,613 shares in the last quarter. Hedge funds and other institutional investors own 93.56% of the company’s stock.
Materion Trading Up 1.2%
Materion stock opened at $243.33 on Friday. The business has a 50-day simple moving average of $251.31 and a two-hundred day simple moving average of $209.51. The company has a market cap of $5.07 billion, a P/E ratio of 56.72 and a beta of 1.08. Materion Corporation has a 52-week low of $108.28 and a 52-week high of $304.58. The company has a quick ratio of 1.29, a current ratio of 2.94 and a debt-to-equity ratio of 0.44.
Materion Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, September 4th. Investors of record on Thursday, August 20th were issued a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Thursday, August 20th. Materion’s dividend payout ratio (DPR) is currently 13.52%.
Insider Buying and Selling
In other news, CEO Jugal K. Vijayvargiya sold 24,336 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $291.62, for a total value of $7,096,864.32. Following the transaction, the chief executive officer owned 116,699 shares of the company’s stock, valued at $34,031,762.38. This trade represents a 17.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Emily M. Liggett sold 1,012 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $232.42, for a total value of $235,209.04. Following the transaction, the director owned 3,161 shares of the company’s stock, valued at approximately $734,679.62. This trade represents a 24.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 29,053 shares of company stock valued at $8,301,958 in the last 90 days. 2.80% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on MTRN shares. Wall Street Zen upgraded Materion from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Weiss Ratings raised shares of Materion from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, August 24th. KeyCorp lifted their price target on shares of Materion from $237.00 to $306.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Zacks Research upgraded shares of Materion from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 6th. Finally, Jefferies Financial Group began coverage on shares of Materion in a research report on Wednesday. They set a “buy” rating and a $314.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $310.00.
View Our Latest Analysis on MTRN
Materion Profile
Materion Corporation (NYSE: MTRN) is a global supplier of advanced materials and precision-engineered solutions. The company develops and manufactures high-performance alloys, engineered clad and composite materials, precision thin film products, and advanced optical and electronic materials. Materion’s offerings address critical performance requirements for industries where material properties such as strength, wear resistance, conductivity and optical clarity are paramount.
Materion’s core businesses include beryllium and beryllium composites for aerospace and defense platforms, nickel- and copper-based specialty alloys for industrial and medical applications, optical coatings and substrates for scientific instrumentation, and electronic materials used in semiconductor production.
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