Yousif Capital Management LLC Has $1.34 Million Position in Materion Co. (NYSE:MTRN)

Posted by Defense World Staff on Aug 2nd, 2023

Yousif Capital Management LLC decreased its holdings in Materion Co. (NYSE:MTRN – Free Report) by 11.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,535 shares of the basic materials company’s stock after selling 1,505 shares during the quarter. Yousif Capital Management LLC owned 0.06% of Materion worth $1,338,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. BlackRock Inc. raised its position in Materion by 0.8% in the first quarter. BlackRock Inc. now owns 3,414,043 shares of the basic materials company’s stock worth $292,720,000 after purchasing an additional 28,638 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Materion by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 2,310,705 shares of the basic materials company’s stock worth $184,856,000 after buying an additional 39,585 shares during the period. Dimensional Fund Advisors LP boosted its stake in Materion by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,292,435 shares of the basic materials company’s stock valued at $110,815,000 after buying an additional 5,975 shares in the last quarter. State Street Corp grew its position in Materion by 21.3% in the first quarter. State Street Corp now owns 1,030,733 shares of the basic materials company’s stock valued at $88,375,000 after acquiring an additional 181,087 shares during the period. Finally, Silvercrest Asset Management Group LLC raised its stake in Materion by 10.0% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 546,942 shares of the basic materials company’s stock worth $47,863,000 after acquiring an additional 49,658 shares in the last quarter. 93.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on MTRN shares. StockNews.com raised shares of Materion from a “hold” rating to a “buy” rating in a report on Saturday, July 15th. Seaport Res Ptn reissued a “buy” rating on shares of Materion in a report on Wednesday, July 5th. Finally, CL King raised their price target on Materion from $128.00 to $133.00 in a report on Wednesday, July 5th.

Materion Trading Down 1.9 %

MTRN opened at $116.89 on Wednesday. Materion Co. has a 1-year low of $64.89 and a 1-year high of $123.41. The firm has a 50-day moving average price of $112.13 and a two-hundred day moving average price of $107.27. The stock has a market capitalization of $2.41 billion, a PE ratio of 24.92 and a beta of 1.10. The company has a current ratio of 2.85, a quick ratio of 1.08 and a debt-to-equity ratio of 0.51.

Materion (NYSE:MTRN – Get Free Report) last posted its quarterly earnings data on Wednesday, May 3rd. The basic materials company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.05. The firm had revenue of $442.50 million during the quarter, compared to analysts’ expectations of $447.10 million. Materion had a net margin of 5.57% and a return on equity of 14.03%. Materion’s revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.20 EPS. As a group, equities analysts anticipate that Materion Co. will post 5.78 earnings per share for the current fiscal year.

Materion Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Wednesday, May 31st were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.44%. The ex-dividend date was Tuesday, May 30th. This is a positive change from Materion’s previous quarterly dividend of $0.13. Materion’s dividend payout ratio is 11.09%.

Insider Activity at Materion

In other Materion news, VP Gregory R. Chemnitz sold 2,378 shares of the business’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $102.05, for a total transaction of $242,674.90. Following the completion of the sale, the vice president now directly owns 19,310 shares of the company’s stock, valued at approximately $1,970,585.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Emily M. Liggett sold 2,398 shares of Materion stock in a transaction on Monday, May 8th. The stock was sold at an average price of $104.59, for a total transaction of $250,806.82. Following the completion of the sale, the director now directly owns 2,621 shares of the company’s stock, valued at $274,130.39. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Gregory R. Chemnitz sold 2,378 shares of the stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $102.05, for a total value of $242,674.90. Following the completion of the transaction, the vice president now directly owns 19,310 shares in the company, valued at approximately $1,970,585.50. The disclosure for this sale can be found here. 2.30% of the stock is owned by company insiders.

Materion Company Profile

(Free Report)

Materion Corporation, through 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. It operates through Performance Materials, Electronic Materials, and Precision Optics segments.