Materion Co. (NYSE:MTRN) Shares Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its position in Materion Co. (NYSE:MTRN) by 164.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,900 shares of the basic materials company’s stock after buying an additional 22,300 shares during the period. Renaissance Technologies LLC owned approximately 0.17% of Materion worth $3,882,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Aurora Investment Counsel boosted its holdings in shares of Materion by 1.2% in the 4th quarter. Aurora Investment Counsel now owns 6,505 shares of the basic materials company’s stock valued at $846,000 after acquiring an additional 80 shares during the last quarter. Arizona State Retirement System lifted its position in Materion by 1.9% during the second quarter. Arizona State Retirement System now owns 5,780 shares of the basic materials company’s stock valued at $625,000 after purchasing an additional 107 shares during the period. Dakota Wealth Management boosted its holdings in Materion by 1.8% in the second quarter. Dakota Wealth Management now owns 11,190 shares of the basic materials company’s stock valued at $1,210,000 after purchasing an additional 200 shares during the last quarter. Louisiana State Employees Retirement System grew its position in Materion by 2.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 10,400 shares of the basic materials company’s stock worth $1,125,000 after purchasing an additional 200 shares during the period. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Materion during the 2nd quarter valued at about $25,000. Institutional investors and hedge funds own 93.56% of the company’s stock.

Analyst Ratings Changes

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

Materion Stock Performance

MTRN opened at $112.43 on Friday. The firm has a fifty day moving average price of $111.52 and a 200 day moving average price of $114.81. Materion Co. has a 1 year low of $92.23 and a 1 year high of $145.08. The stock has a market cap of $2.33 billion, a P/E ratio of 28.18 and a beta of 1.18. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.25 and a quick ratio of 1.21.

Materion (NYSE:MTRN) last issued its quarterly earnings data on Monday, August 5th. The basic materials company reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. Materion had a net margin of 4.80% and a return on equity of 12.20%. The business had revenue of $425.87 million during the quarter, compared to the consensus estimate of $424.02 million. During the same quarter in the prior year, the firm posted $1.38 earnings per share. The company’s revenue was up 6.9% compared to the same quarter last year. Equities research analysts anticipate that Materion Co. will post 5.74 earnings per share for the current year.

Materion Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were given a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend was Friday, August 23rd. Materion’s dividend payout ratio (DPR) is presently 13.53%.

About Materion

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.