Materion Co. (NYSE:MTRN) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. lowered its holdings in shares of Materion Co. (NYSE:MTRN) by 7.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,969 shares of the basic materials company’s stock after selling 855 shares during the period. Corebridge Financial Inc.’s holdings in Materion were worth $1,085,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. GAMMA Investing LLC raised its position in shares of Materion by 307.8% during the 4th quarter. GAMMA Investing LLC now owns 261 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 197 shares during the last quarter. Smartleaf Asset Management LLC increased its position in Materion by 269.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 436 shares of the basic materials company’s stock worth $43,000 after buying an additional 318 shares in the last quarter. KBC Group NV raised its holdings 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 worth $87,000 after acquiring an additional 311 shares during the last quarter. US Bancorp DE lifted 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 acquiring an additional 313 shares in the last quarter. Finally, CIBC Asset Management Inc acquired a new stake in shares of Materion during the fourth quarter valued at $202,000. Hedge funds and other institutional investors own 93.56% of the company’s stock.

Insider Activity

In other news, CFO Shelly Marie Chadwick sold 805 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $101.24, for a total transaction of $81,498.20. Following the transaction, the chief financial officer now directly owns 14,632 shares in the company, valued at $1,481,343.68. This represents a 5.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 2.60% of the company’s stock.

Materion Trading Down 1.7 %

Shares of MTRN stock opened at $73.89 on Friday. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of 254.78 and a beta of 1.21. The company has a current ratio of 3.19, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48. The firm has a 50-day moving average price of $91.61 and a 200 day moving average price of $101.57. Materion Co. has a twelve month low of $69.10 and a twelve month high of $129.60.

Materion (NYSE:MTRN) last posted its quarterly earnings data on Wednesday, February 19th. The basic materials company reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.12. Materion had a net margin of 0.35% and a return on equity of 12.42%. The business had revenue of $436.90 million during the quarter, compared to analyst estimates of $433.22 million. During the same quarter in the previous year, the business posted $1.41 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. Research analysts forecast that Materion Co. will post 5.5 earnings per share for the current fiscal year.

Materion Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Thursday, February 20th were issued a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend was Thursday, February 20th. Materion’s dividend payout ratio (DPR) is 186.21%.

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.