Phocas Financial Corp. Decreases Stake in Materion Co. (NYSE:MTRN)

Phocas Financial Corp. trimmed its holdings in shares of Materion Co. (NYSE:MTRN) by 5.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,387 shares of the basic materials company’s stock after selling 4,826 shares during the period. Phocas Financial Corp. owned about 0.37% of Materion worth $8,545,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Vaughan Nelson Investment Management L.P. grew its position in Materion by 21.8% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 538,975 shares of the basic materials company’s stock valued at $58,280,000 after acquiring an additional 96,525 shares in the last quarter. Kingswood Wealth Advisors LLC lifted its holdings in Materion by 66.9% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 13,768 shares of the basic materials company’s stock worth $1,489,000 after buying an additional 5,518 shares in the last quarter. UniSuper Management Pty Ltd acquired a new stake in shares of Materion during the first quarter valued at about $747,000. Renaissance Technologies LLC increased its position in shares of Materion by 164.0% during the second quarter. Renaissance Technologies LLC now owns 35,900 shares of the basic materials company’s stock worth $3,882,000 after acquiring an additional 22,300 shares during the last quarter. Finally, Bradley Foster & Sargent Inc. CT acquired a new position in Materion in the second quarter worth $757,000. 93.56% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP Gregory R. Chemnitz sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $117.57, for a total transaction of $235,140.00. Following the completion of the transaction, the vice president now directly owns 12,031 shares in the company, valued at $1,414,484.67. The trade was a 14.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.60% of the company’s stock.

Materion Stock Performance

Shares of NYSE MTRN opened at $113.22 on Tuesday. The company has a quick ratio of 1.26, a current ratio of 3.15 and a debt-to-equity ratio of 0.51. Materion Co. has a 52-week low of $96.18 and a 52-week high of $145.08. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of 31.89 and a beta of 1.19. The stock’s fifty day simple moving average is $107.95 and its 200 day simple moving average is $110.36.

Materion (NYSE:MTRN) last announced its quarterly earnings data on Wednesday, October 30th. The basic materials company reported $1.41 EPS for the quarter, hitting analysts’ consensus estimates of $1.41. The firm had revenue of $436.70 million during the quarter, compared to analyst estimates of $416.40 million. Materion had a return on equity of 12.06% and a net margin of 4.45%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period last year, the company posted $1.39 EPS. As a group, sell-side analysts forecast that Materion Co. will post 5.24 earnings per share for the current fiscal year.

Materion Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Thursday, November 14th will be given a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Thursday, November 14th. Materion’s payout ratio is presently 15.21%.

Analyst Ratings Changes

Separately, StockNews.com upgraded Materion from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th.

Materion Company 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.