LGT Group Foundation Acquires 4,165 Shares of Materion Co. (NYSE:MTRN)

LGT Group Foundation lifted its holdings in shares of Materion Co. (NYSE:MTRN) by 16.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,527 shares of the basic materials company’s stock after purchasing an additional 4,165 shares during the quarter. LGT Group Foundation’s holdings in Materion were worth $3,872,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Victory Capital Management Inc. grew its stake in Materion by 5.1% during the 4th quarter. Victory Capital Management Inc. now owns 6,730 shares of the basic materials company’s stock worth $876,000 after buying an additional 324 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Materion by 14.7% during the 4th quarter. Russell Investments Group Ltd. now owns 9,053 shares of the basic materials company’s stock worth $1,178,000 after purchasing an additional 1,163 shares during the last quarter. Yousif Capital Management LLC boosted its holdings in shares of Materion by 5.2% in the 4th quarter. Yousif Capital Management LLC now owns 10,754 shares of the basic materials company’s stock valued at $1,399,000 after buying an additional 533 shares during the period. Handelsbanken Fonder AB increased its stake in shares of Materion by 27.0% in the fourth quarter. Handelsbanken Fonder AB now owns 3,766 shares of the basic materials company’s stock valued at $490,000 after purchasing an additional 800 shares during the period. Finally, Wetzel Investment Advisors Inc. acquired a new position in Materion in the fourth quarter worth approximately $195,000. Institutional investors own 93.56% of the company’s stock.

Materion Price Performance

Shares of NYSE MTRN traded down $2.59 during mid-day trading on Friday, reaching $107.23. The company had a trading volume of 212,111 shares, compared to its average volume of 100,942. The business’s 50-day simple moving average is $127.36 and its 200 day simple moving average is $120.39. Materion Co. has a one year low of $92.23 and a one year high of $145.08. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of 26.74 and a beta of 1.17. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.05 and a current ratio of 2.78.

Materion (NYSE:MTRN) last issued its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.02). Materion had a return on equity of 12.40% and a net margin of 5.19%. The company had revenue of $385.29 million during the quarter, compared to the consensus estimate of $386.84 million. During the same period in the previous year, the company earned $1.34 EPS. Materion’s quarterly revenue was down 12.9% on a year-over-year basis. On average, research analysts predict that Materion Co. will post 6.03 earnings per share for the current fiscal year.

Insider Transactions at Materion

In other Materion news, CFO Shelly Marie Chadwick sold 2,000 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $132.60, for a total value of $265,200.00. Following the sale, the chief financial officer now owns 13,147 shares of the company’s stock, valued at approximately $1,743,292.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Materion news, VP Gregory R. Chemnitz sold 3,000 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $133.74, for a total value of $401,220.00. Following the transaction, the vice president now owns 14,510 shares in the company, valued at $1,940,567.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Shelly Marie Chadwick sold 2,000 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $132.60, for a total value of $265,200.00. Following the sale, the chief financial officer now owns 13,147 shares in the company, valued at $1,743,292.20. The disclosure for this sale can be found here. Company insiders own 2.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, KeyCorp dropped their target price on shares of Materion from $157.00 to $156.00 and set an “overweight” rating on the stock in a report on Monday, April 1st.

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.