Comerica Bank Sells 453 Shares of Materion Co. (NYSE:MTRN)

Comerica Bank lessened its position in shares of Materion Co. (NYSE:MTRN) by 4.3% in the fourth quarter, HoldingsChannel reports. The fund owned 10,089 shares of the basic materials company’s stock after selling 453 shares during the period. Comerica Bank’s holdings in Materion were worth $998,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in MTRN. GAMMA Investing LLC raised its position in shares of Materion by 307.8% in the fourth quarter. GAMMA Investing LLC now owns 261 shares of the basic materials company’s stock valued at $26,000 after buying an additional 197 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of Materion by 269.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 436 shares of the basic materials company’s stock valued at $43,000 after buying an additional 318 shares in the last quarter. KBC Group NV raised its position in shares of Materion by 54.5% in the fourth quarter. KBC Group NV now owns 882 shares of the basic materials company’s stock valued at $87,000 after buying an additional 311 shares in the last quarter. US Bancorp DE raised its position in shares of Materion by 30.3% in the fourth quarter. US Bancorp DE now owns 1,347 shares of the basic materials company’s stock valued at $133,000 after buying an additional 313 shares in the last quarter. Finally, CIBC Asset Management Inc acquired a new stake in shares of Materion in the fourth quarter valued at approximately $202,000. Institutional investors own 93.56% of the company’s stock.

Insider Buying and Selling at Materion

In other Materion news, VP Gregory R. Chemnitz sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $80.45, for a total transaction of $160,900.00. Following the completion of the transaction, the vice president now directly owns 13,376 shares in the company, valued at $1,076,099.20. The trade was a 13.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Materion Stock Up 2.9%

NYSE MTRN opened at $77.59 on Tuesday. The company has a current ratio of 3.19, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48. Materion Co. has a 1-year low of $69.10 and a 1-year high of $123.21. The company has a 50 day moving average of $81.23 and a 200-day moving average of $96.14. The company has a market cap of $1.61 billion, a price-to-earnings ratio of 267.53 and a beta of 0.85.

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

Materion Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 29th will be given a dividend of $0.14 per share. This is an increase from Materion’s previous quarterly dividend of $0.14. This represents a $0.56 annualized dividend and a yield of 0.72%. The ex-dividend date is Thursday, May 29th. Materion’s payout ratio is currently 112.00%.

Materion Company 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.