PNC Financial Services Group Inc. Sells 103 Shares of Materion Co. (NYSE:MTRN)

PNC Financial Services Group Inc. reduced its stake in Materion Co. (NYSE:MTRN) by 2.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,741 shares of the basic materials company’s stock after selling 103 shares during the period. PNC Financial Services Group Inc.’s holdings in Materion were worth $617,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of MTRN. CENTRAL TRUST Co increased its stake in Materion by 529.0% in the 4th quarter. CENTRAL TRUST Co now owns 195 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 164 shares during the period. Quest Partners LLC purchased a new position in Materion in the 4th quarter worth approximately $44,000. SRS Capital Advisors Inc. increased its stake in Materion by 285.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 428 shares of the basic materials company’s stock worth $56,000 after purchasing an additional 317 shares during the period. Anchor Investment Management LLC purchased a new position in Materion in the 4th quarter worth approximately $137,000. Finally, AdvisorNet Financial Inc increased its stake in Materion by 189.6% in the 4th quarter. AdvisorNet Financial Inc now owns 1,222 shares of the basic materials company’s stock worth $159,000 after purchasing an additional 800 shares during the period. 93.56% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Materion news, VP Gregory R. Chemnitz sold 2,000 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $113.31, for a total value of $226,620.00. Following the completion of the transaction, the vice president now owns 18,031 shares in the company, valued at $2,043,092.61. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Emily M. Liggett sold 1,152 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $111.86, for a total value of $128,862.72. Following the sale, the director now directly owns 2,621 shares of the company’s stock, valued at $293,185.06. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Gregory R. Chemnitz sold 2,000 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $113.31, for a total value of $226,620.00. Following the completion of the sale, the vice president now directly owns 18,031 shares in the company, valued at $2,043,092.61. The disclosure for this sale can be found here. 2.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, KeyCorp decreased their price target on Materion from $156.00 to $152.00 and set an “overweight” rating on the stock in a research note on Friday, May 10th.

Materion Price Performance

Shares of Materion stock opened at $108.65 on Thursday. The company has a quick ratio of 1.07, a current ratio of 2.91 and a debt-to-equity ratio of 0.50. The company has a market cap of $2.25 billion, a PE ratio of 27.23 and a beta of 1.21. The business has a 50 day moving average of $112.45 and a 200 day moving average of $121.53. Materion Co. has a 52 week low of $92.23 and a 52 week high of $145.08.

Materion (NYSE:MTRN) last announced its earnings results on Wednesday, May 1st. The basic materials company reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.02). The business had revenue of $385.29 million for the quarter, compared to the consensus estimate of $386.84 million. Materion had a net margin of 5.19% and a return on equity of 12.32%. Materion’s revenue was down 12.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.34 EPS. As a group, equities research analysts forecast that Materion Co. will post 5.84 earnings per share for the current year.

Materion Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Thursday, May 23rd were issued a $0.135 dividend. This is an increase from Materion’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Wednesday, May 22nd. This represents a $0.54 dividend on an annualized basis and a yield of 0.50%. Materion’s dividend payout ratio is 13.53%.

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.