ProShare Advisors LLC Decreases Stake in Materion Corporation $MTRN

ProShare Advisors LLC cut its holdings in shares of Materion Corporation (NYSE:MTRN) by 5.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,613 shares of the basic materials company’s stock after selling 4,991 shares during the period. ProShare Advisors LLC owned approximately 0.38% of Materion worth $6,319,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of MTRN. Jones Financial Companies Lllp purchased a new stake in shares of Materion during the 1st quarter valued at about $34,000. First Horizon Advisors Inc. lifted its position in Materion by 25.3% during the second quarter. First Horizon Advisors Inc. now owns 585 shares of the basic materials company’s stock valued at $46,000 after purchasing an additional 118 shares during the period. CWM LLC lifted its position in Materion by 387.0% during the second quarter. CWM LLC now owns 1,232 shares of the basic materials company’s stock valued at $98,000 after purchasing an additional 979 shares during the period. AQR Capital Management LLC purchased a new stake in Materion in the first quarter worth approximately $201,000. Finally, Dover Advisors LLC bought a new stake in Materion in the 2nd quarter worth approximately $209,000. Hedge funds and other institutional investors own 93.56% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on MTRN shares. Wall Street Zen cut Materion from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. KeyCorp upped their price objective on Materion from $115.00 to $117.00 and gave the company an “overweight” rating in a research report on Wednesday, August 13th. Zacks Research cut Materion from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Materion in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Materion has an average rating of “Hold” and an average target price of $117.00.

Materion Price Performance

Shares of Materion stock opened at $117.49 on Friday. The stock has a market cap of $2.44 billion, a P/E ratio of 123.67 and a beta of 0.91. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.25 and a current ratio of 3.28. The stock’s fifty day moving average is $120.93 and its 200 day moving average is $100.67. Materion Corporation has a one year low of $69.10 and a one year high of $135.33.

Materion (NYSE:MTRN) last issued its quarterly earnings results on Wednesday, March 22nd. The basic materials company reported $1.03 EPS for the quarter. Materion had a return on equity of 12.66% and a net margin of 1.12%.The business had revenue of $230.20 million during the quarter. Sell-side analysts anticipate that Materion Corporation will post 5.5 earnings per share for the current year.

Materion Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Thursday, November 13th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Thursday, November 13th. Materion’s dividend payout ratio is presently 58.95%.

Insider Buying and Selling at Materion

In other news, VP Gregory R. Chemnitz sold 864 shares of the stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $113.23, for a total value of $97,830.72. Following the completion of the sale, the vice president directly owned 10,376 shares of the company’s stock, valued at $1,174,874.48. This represents a 7.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.60% of the stock is currently owned by insiders.

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.