Texas Permanent School Fund Corp Has $2.39 Million Stake in Materion Co. (NYSE:MTRN)

Texas Permanent School Fund Corp raised its stake in Materion Co. (NYSE:MTRN) by 22.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,142 shares of the basic materials company’s stock after purchasing an additional 4,076 shares during the period. Texas Permanent School Fund Corp owned 0.11% of Materion worth $2,394,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Jennison Associates LLC increased its holdings in Materion by 29.7% in the 1st quarter. Jennison Associates LLC now owns 262,121 shares of the basic materials company’s stock valued at $34,534,000 after buying an additional 60,030 shares during the period. Trigran Investments Inc. increased its holdings in Materion by 1.9% in the fourth quarter. Trigran Investments Inc. now owns 687,794 shares of the basic materials company’s stock valued at $89,503,000 after purchasing an additional 12,500 shares during the period. Vaughan Nelson Investment Management L.P. boosted its holdings in Materion by 83.9% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 442,450 shares of the basic materials company’s stock valued at $58,293,000 after acquiring an additional 201,835 shares during the last quarter. Kingswood Wealth Advisors LLC lifted its position in shares of 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 purchasing an additional 5,518 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Materion by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 2,541,196 shares of the basic materials company’s stock worth $330,686,000 after buying an additional 9,394 shares during the period. Institutional investors and hedge funds own 93.56% of the company’s stock.

Analysts Set New Price Targets

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

Materion Stock Down 0.5 %

Shares of NYSE MTRN opened at $105.09 on Tuesday. The company has a quick ratio of 1.21, a current ratio of 3.25 and a debt-to-equity ratio of 0.51. The firm has a market cap of $2.18 billion, a PE ratio of 26.34 and a beta of 1.18. The company’s fifty day simple moving average is $112.21 and its 200 day simple moving average is $116.41. Materion Co. has a 12-month low of $92.23 and a 12-month high of $145.08.

Materion (NYSE:MTRN) last announced its quarterly earnings results on Monday, August 5th. The basic materials company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.03. Materion had a return on equity of 12.20% and a net margin of 4.80%. The business had revenue of $425.87 million for the quarter, compared to analyst estimates of $424.02 million. During the same quarter in the prior year, the company earned $1.38 earnings per share. The company’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, sell-side analysts forecast that Materion Co. will post 5.74 earnings per share for the current fiscal year.

Materion Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 23rd were issued a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend was Friday, August 23rd. Materion’s dividend payout ratio is currently 13.53%.

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.