Amalgamated Bank Has $1.15 Million Stock Holdings in Materion Co. (NYSE:MTRN)

Amalgamated Bank trimmed its stake in shares of Materion Co. (NYSE:MTRNFree Report) by 2.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 8,841 shares of the basic materials company’s stock after selling 239 shares during the quarter. Amalgamated Bank’s holdings in Materion were worth $1,150,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Materion by 23.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,265 shares of the basic materials company’s stock worth $435,000 after buying an additional 810 shares in the last quarter. Strs Ohio bought a new position in Materion in the third quarter valued at approximately $203,000. Advisor Partners II LLC acquired a new position in Materion during the third quarter valued at approximately $334,000. Allspring Global Investments Holdings LLC lifted its stake in Materion by 772.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 18,556 shares of the basic materials company’s stock worth $1,891,000 after purchasing an additional 16,428 shares during the last quarter. Finally, Jennison Associates LLC bought a new stake in Materion during the third quarter worth $20,614,000. 93.56% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, KeyCorp lowered their price target on Materion from $156.00 to $152.00 and set an “overweight” rating for the company in a report on Friday, May 10th.

View Our Latest Research Report on MTRN

Insiders Place Their Bets

In other Materion news, CFO Shelly Marie Chadwick sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $132.60, for a total transaction of $265,200.00. Following the completion of the transaction, the chief financial officer now owns 13,147 shares in the company, valued at approximately $1,743,292.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Materion news, CFO Shelly Marie Chadwick sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $132.60, for a total transaction of $265,200.00. Following the completion of the transaction, the chief financial officer now owns 13,147 shares in the company, valued at approximately $1,743,292.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Gregory R. Chemnitz sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $133.74, for a total transaction of $401,220.00. Following the sale, the vice president now directly owns 14,510 shares of the company’s stock, valued at approximately $1,940,567.40. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

Materion Trading Up 0.1 %

Shares of Materion stock opened at $112.29 on Wednesday. The firm has a market capitalization of $2.33 billion, a PE ratio of 28.14 and a beta of 1.17. The company has a current ratio of 2.91, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50. The firm’s 50 day moving average is $123.84 and its 200 day moving average is $121.57. Materion Co. has a 1 year low of $92.23 and a 1 year high of $145.08.

Materion (NYSE:MTRNGet Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.02). The company had revenue of $385.29 million for the quarter, compared to analyst estimates of $386.84 million. Materion had a return on equity of 12.32% and a net margin of 5.19%. The firm’s quarterly revenue was down 12.9% on a year-over-year basis. During the same quarter last year, the company posted $1.34 earnings per share. Equities research analysts forecast that Materion Co. will post 5.86 earnings per share for the current fiscal year.

Materion Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Thursday, May 23rd will be issued a dividend of $0.135 per share. This is a positive change from Materion’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Wednesday, May 22nd. This represents a $0.54 annualized dividend and a yield of 0.48%. Materion’s dividend payout ratio (DPR) is presently 13.03%.

Materion Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Materion (NYSE:MTRN)

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