Wesbanco Bank Inc. Takes Position in Materion Co. (NYSE:MTRN)

Wesbanco Bank Inc. acquired a new position in Materion Co. (NYSE:MTRN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 4,000 shares of the basic materials company’s stock, valued at approximately $396,000.

A number of other hedge funds also recently bought and sold shares of the stock. Mountaineer Partners Management LLC lifted its holdings in Materion by 9,463.5% during the third quarter. Mountaineer Partners Management LLC now owns 9,147,463 shares of the basic materials company’s stock worth $1,023,235,000 after buying an additional 9,051,813 shares during the period. Vaughan Nelson Investment Management L.P. lifted its holdings in Materion by 12.0% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 603,445 shares of the basic materials company’s stock worth $67,501,000 after buying an additional 64,470 shares during the period. Geode Capital Management LLC lifted its holdings in Materion by 0.6% during the third quarter. Geode Capital Management LLC now owns 466,972 shares of the basic materials company’s stock worth $52,246,000 after buying an additional 2,953 shares during the period. abrdn plc lifted its holdings in Materion by 19.8% during the third quarter. abrdn plc now owns 258,728 shares of the basic materials company’s stock worth $28,941,000 after buying an additional 42,717 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Materion by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 252,985 shares of the basic materials company’s stock worth $28,299,000 after buying an additional 5,944 shares during the period. Hedge funds and other institutional investors own 93.56% of the company’s stock.

Materion Stock Down 0.0 %

Materion stock opened at $102.26 on Friday. The business has a fifty day moving average of $105.58 and a two-hundred day moving average of $108.72. The company has a quick ratio of 1.26, a current ratio of 3.15 and a debt-to-equity ratio of 0.51. The firm has a market cap of $2.12 billion, a P/E ratio of 28.81 and a beta of 1.24. Materion Co. has a twelve month low of $93.20 and a twelve month high of $145.08.

Materion (NYSE:MTRN) last issued its quarterly earnings results on Wednesday, October 30th. The basic materials company reported $1.41 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.41. The business had revenue of $436.70 million for the quarter, compared to the consensus estimate of $416.40 million. Materion had a return on equity of 12.06% and a net margin of 4.45%. The business’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.39 earnings per share. On average, analysts forecast that Materion Co. will post 5.22 earnings per share for the current fiscal year.

Insider Transactions at Materion

In other news, VP Gregory R. Chemnitz sold 2,000 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $117.57, for a total transaction of $235,140.00. Following the transaction, the vice president now directly owns 12,031 shares of the company’s stock, valued at approximately $1,414,484.67. This represents a 14.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Shelly Marie Chadwick sold 1,000 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $115.92, for a total value of $115,920.00. Following the completion of the transaction, the chief financial officer now directly owns 13,200 shares in the company, valued at approximately $1,530,144. The trade was a 7.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.

About Materion

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.