6,844 Materion Corporation $MTRN Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp trimmed its position in Materion Corporation (NYSE:MTRN) by 12.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,617 shares of the basic materials company’s stock after selling 6,844 shares during the quarter. King Luther Capital Management Corp owned approximately 0.22% of Materion worth $12,567,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. BlackRock Inc. purchased a new position in Materion during the second quarter valued at approximately $1,032,985,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Materion in the 2nd quarter valued at $132,656,000. Congress Asset Management Co. bought a new position in Materion in the 3rd quarter valued at $51,835,000. Bank of America Corp DE bought a new position in Materion in the 2nd quarter valued at $51,481,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Materion during the 2nd quarter valued at $49,060,000. 93.56% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Seaport Research Partners raised shares of Materion from a “neutral” rating to a “buy” rating and set a $250.00 price target on the stock in a report on Thursday, November 5th. Jefferies Financial Group began coverage on Materion in a research report on Wednesday, September 2nd. They set a “buy” rating and a $314.00 target price for the company. Zacks Research lowered Materion from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Weiss Ratings cut Materion from a “buy (b-)” rating to a “hold (c)” rating in a report on Thursday, October 29th. Finally, Wall Street Zen raised Materion from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $273.00.

Insider Transactions at Materion

In other Materion news, Director Vinod M. Khilnani sold 2,000 shares of Materion stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $235.16, for a total transaction of $470,320.00. Following the completion of the sale, the director owned 11,171 shares of the company’s stock, valued at $2,626,972.36. The trade was a 15.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Emily M. Liggett sold 1,012 shares of the company’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $232.42, for a total value of $235,209.04. Following the completion of the transaction, the director owned 3,161 shares of the company’s stock, valued at $734,679.62. The trade was a 24.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 2.80% of the company’s stock.

Materion Price Performance

MTRN stock opened at $207.74 on Friday. The firm has a 50 day simple moving average of $246.92 and a two-hundred day simple moving average of $214.10. The stock has a market cap of $4.33 billion, a PE ratio of 42.57 and a beta of 1.10. Materion Corporation has a one year low of $110.69 and a one year high of $324.98. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.81 and a quick ratio of 1.22.

Materion (NYSE:MTRN) last posted its quarterly earnings data on Wednesday, November 4th. The basic materials company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.04. Materion had a net margin of 4.64% and a return on equity of 14.23%. The firm had revenue of $313.66 million for the quarter, compared to analysts’ expectations of $611.38 million. During the same quarter last year, the company posted $1.41 EPS. The business’s quarterly revenue was up 27.5% on a year-over-year basis. On average, analysts predict that Materion Corporation will post 7.27 EPS for the current fiscal year.

Materion Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Thursday, November 19th will be given a dividend of $0.1450 per share. The ex-dividend date is Thursday, November 19th. This represents a $0.58 dividend on an annualized basis and a yield of 0.3%. Materion’s dividend payout ratio (DPR) is presently 11.89%.

Materion Profile

Materion Corporation is a specialty materials company that develops and manufactures advanced engineered materials and related services. Its products include beryllium and beryllium alloys, other engineered metals, and materials used in thin-film deposition and other high-performance applications. The company’s materials serve customers in markets such as semiconductors, aerospace and defense, telecommunications, automotive, consumer electronics, and industrial manufacturing. Materion also provides services including materials processing, recycling, and technical support.