Corebridge Financial Inc. Sells 212 Shares of Materion Corporation $MTRN

Corebridge Financial Inc. cut its stake in Materion Corporation (NYSE:MTRN) by 1.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,757 shares of the basic materials company’s stock after selling 212 shares during the quarter. Corebridge Financial Inc. owned about 0.05% of Materion worth $878,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. GAMMA Investing LLC grew its stake in Materion by 722.2% in the first quarter. GAMMA Investing LLC now owns 2,146 shares of the basic materials company’s stock valued at $175,000 after purchasing an additional 1,885 shares during the last quarter. MQS Management LLC purchased a new position in Materion in the first quarter valued at about $212,000. EntryPoint Capital LLC grew its stake in Materion by 19.4% in the first quarter. EntryPoint Capital LLC now owns 2,691 shares of the basic materials company’s stock valued at $220,000 after purchasing an additional 437 shares during the last quarter. New Age Alpha Advisors LLC purchased a new position in Materion in the first quarter valued at about $244,000. Finally, Teacher Retirement System of Texas purchased a new position in Materion in the first quarter valued at about $248,000. 93.56% of the stock is currently owned by hedge funds and other institutional investors.

Materion Stock Up 1.2%

Shares of MTRN stock opened at $112.25 on Friday. Materion Corporation has a 1-year low of $69.10 and a 1-year high of $123.21. The stock’s fifty day moving average price is $100.25 and its 200 day moving average price is $88.09. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.17 and a quick ratio of 1.25. The company has a market cap of $2.33 billion, a price-to-earnings ratio of 140.31 and a beta of 0.91.

Materion (NYSE:MTRN) last announced its earnings results on Wednesday, July 30th. The basic materials company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.19. The firm had revenue of $431.66 million for the quarter, compared to the consensus estimate of $403.73 million. Materion had a return on equity of 12.69% and a net margin of 0.94%.The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.42 EPS. Materion has set its FY 2025 guidance at 5.300-5.700 EPS. On average, research analysts expect that Materion Corporation will post 5.5 earnings per share for the current fiscal year.

Materion Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 22nd were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.5%. Materion’s payout ratio is 70.00%.

Insider Buying and Selling

In related news, CAO Melissa A. Fashinpaur sold 1,140 shares of Materion stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $105.34, for a total transaction of $120,087.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director N Mohan Reddy sold 1,155 shares of Materion stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $105.45, for a total value of $121,794.75. The disclosure for this sale can be found here. Insiders sold 5,295 shares of company stock valued at $557,392 over the last quarter. 2.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on MTRN. KeyCorp lifted their target price on Materion from $115.00 to $117.00 and gave the company an “overweight” rating in a research note on Wednesday, August 13th. Wall Street Zen upgraded Materion from a “hold” rating to a “buy” rating in a research note on Friday, August 22nd. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus 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.