Nachman Norwood & Parrott Inc bought a new position in shares of Materion Corp (NYSE:MTRN) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,800 shares of the basic materials company’s stock, valued at approximately $217,000.
A number of other institutional investors also recently bought and sold shares of MTRN. Prudential Financial Inc. boosted its stake in shares of Materion by 1.5% in the fourth quarter. Prudential Financial Inc. now owns 188,493 shares of the basic materials company’s stock worth $8,480,000 after acquiring an additional 2,778 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Materion in the third quarter worth approximately $303,000. Rhumbline Advisers boosted its stake in shares of Materion by 17.5% in the fourth quarter. Rhumbline Advisers now owns 67,132 shares of the basic materials company’s stock worth $3,020,000 after acquiring an additional 10,020 shares during the last quarter. Norges Bank acquired a new stake in shares of Materion in the fourth quarter worth approximately $20,752,000. Finally, Vanguard Group Inc boosted its stake in shares of Materion by 3.8% in the third quarter. Vanguard Group Inc now owns 2,099,990 shares of the basic materials company’s stock worth $127,050,000 after acquiring an additional 77,515 shares during the last quarter. 94.07% of the stock is currently owned by hedge funds and other institutional investors.
In related news, VP Gregory R. Chemnitz sold 3,000 shares of Materion stock in a transaction that occurred on Thursday, February 21st. The stock was sold at an average price of $57.57, for a total transaction of $172,710.00. Following the transaction, the vice president now owns 6,223 shares in the company, valued at $358,258.11. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.40% of the company’s stock.
Materion (NYSE:MTRN) last announced its quarterly earnings data on Thursday, May 2nd. The basic materials company reported $0.82 EPS for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.22. Materion had a return on equity of 9.30% and a net margin of 1.73%. The firm had revenue of $301.44 million for the quarter, compared to the consensus estimate of $297.70 million. During the same quarter last year, the business posted $0.51 earnings per share. The firm’s revenue was down .7% compared to the same quarter last year. On average, analysts predict that Materion Corp will post 2.68 EPS for the current fiscal year.
A number of analysts have recently issued reports on MTRN shares. ValuEngine raised Materion from a “hold” rating to a “buy” rating in a research note on Thursday, February 14th. Zacks Investment Research lowered Materion from a “buy” rating to a “hold” rating in a research note on Thursday, February 21st.
Materion Company Profile
Materion Corporation manufactures and sells advanced engineered materials used in consumer electronics, industrial components, defense, medical, automotive electronics, telecommunications infrastructure, energy, commercial aerospace, science, services, and appliance markets worldwide. The company operates in four segments: Performance Alloys and Composites, Advanced Materials, Precision Coatings, and Other.
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