Hsbc Holdings PLC Buys 2,797 Shares of Materion Corporation $MTRN

Hsbc Holdings PLC raised its stake in Materion Corporation (NYSE:MTRN) by 61.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,313 shares of the basic materials company’s stock after acquiring an additional 2,797 shares during the quarter. Hsbc Holdings PLC’s holdings in Materion were worth $1,049,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Oregon Public Employees Retirement Fund lifted its stake in Materion by 1.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 4,760 shares of the basic materials company’s stock valued at $689,000 after purchasing an additional 63 shares during the last quarter. Wetzel Investment Advisors Inc. purchased a new stake in Materion in the first quarter worth $217,000. Pictet Asset Management Holding SA increased its position in Materion by 15.0% in the first quarter. Pictet Asset Management Holding SA now owns 2,997 shares of the basic materials company’s stock worth $434,000 after buying an additional 390 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of Materion in the first quarter valued at $1,331,000. Finally, OP Asset Management Ltd bought a new stake in shares of Materion in the first quarter valued at $244,000. Hedge funds and other institutional investors own 93.56% of the company’s stock.

Materion Stock Down 13.6%

MTRN stock opened at $208.85 on Wednesday. The company’s 50 day moving average is $246.95 and its 200 day moving average is $189.54. The stock has a market cap of $4.34 billion, a price-to-earnings ratio of 57.06 and a beta of 1.03. The company has a current ratio of 3.04, a quick ratio of 1.32 and a debt-to-equity ratio of 0.50. Materion Corporation has a 1-year low of $91.62 and a 1-year high of $298.87.

Materion (NYSE:MTRN) last announced its earnings results on Wednesday, April 29th. The basic materials company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.03. Materion had a net margin of 3.99% and a return on equity of 12.45%. The business had revenue of $261.79 million during the quarter, compared to analyst estimates of $479.03 million. During the same period in the previous year, the business posted $1.13 earnings per share. Materion’s revenue for the quarter was up 30.8% on a year-over-year basis. Sell-side analysts predict that Materion Corporation will post 6.45 EPS for the current fiscal year.

Materion Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Thursday, August 20th will be paid a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Thursday, August 20th. Materion’s dividend payout ratio is currently 15.85%.

Wall Street Analyst Weigh In

MTRN has been the subject of several research reports. Weiss Ratings upgraded Materion from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 23rd. Robert W. Baird assumed coverage on Materion in a report on Wednesday, April 1st. They set an “outperform” rating for the company. Finally, KeyCorp upped their price target on shares of Materion from $223.00 to $237.00 and gave the stock an “overweight” rating in a report on Tuesday, June 2nd. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $237.00.

Materion Company Profile

Materion Corporation (NYSE: MTRN) is a global supplier of advanced materials and precision-engineered solutions. The company develops and manufactures high-performance alloys, engineered clad and composite materials, precision thin film products, and advanced optical and electronic materials. Materion’s offerings address critical performance requirements for industries where material properties such as strength, wear resistance, conductivity and optical clarity are paramount.

Materion’s core businesses include beryllium and beryllium composites for aerospace and defense platforms, nickel- and copper-based specialty alloys for industrial and medical applications, optical coatings and substrates for scientific instrumentation, and electronic materials used in semiconductor production.