Principal Financial Group Inc. Sells 8,899 Shares of Materion Co. (NYSE:MTRN)

Principal Financial Group Inc. cut its holdings in Materion Co. (NYSE:MTRN) by 8.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 98,246 shares of the basic materials company’s stock after selling 8,899 shares during the quarter. Principal Financial Group Inc. owned about 0.47% of Materion worth $10,990,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Quest Partners LLC grew its position in Materion by 25,600.0% in the second quarter. Quest Partners LLC now owns 257 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 256 shares in the last quarter. ARK Investment Management LLC acquired a new stake in shares of Materion in the third quarter valued at about $85,000. Algert Global LLC acquired a new position in Materion during the second quarter valued at approximately $225,000. Deerfield Management Company L.P. Series C bought a new position in Materion in the second quarter valued at approximately $247,000. Finally, Centiva Capital LP bought a new position in Materion in the third quarter valued at approximately $259,000. 93.56% of the stock is owned by institutional investors.

Materion Trading Down 2.0 %

NYSE MTRN opened at $100.25 on Monday. The company has a market cap of $2.08 billion, a PE ratio of 28.24 and a beta of 1.21. Materion Co. has a 12 month low of $96.18 and a 12 month high of $145.08. The stock has a 50 day moving average of $110.11 and a 200-day moving average of $109.88. The company has a current ratio of 3.15, a quick ratio of 1.26 and a debt-to-equity ratio of 0.51.

Materion (NYSE:MTRN) last issued its earnings results on Wednesday, October 30th. The basic materials company reported $1.41 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.41. Materion had a net margin of 4.45% and a return on equity of 12.06%. The company had revenue of $436.70 million for the quarter, compared to analysts’ expectations of $416.40 million. During the same period in the prior year, the firm earned $1.39 EPS. Materion’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, equities research analysts anticipate that Materion Co. will post 5.24 EPS for the current fiscal year.

Materion Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Thursday, November 14th were issued a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend was Thursday, November 14th. Materion’s dividend payout ratio is 15.21%.

Insider Buying and Selling at Materion

In other Materion news, CFO Shelly Marie Chadwick sold 1,000 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $115.92, for a total value of $115,920.00. Following the completion of the sale, the chief financial officer now owns 13,200 shares of the company’s stock, valued at $1,530,144. The trade was a 7.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Gregory R. Chemnitz sold 2,000 shares of the firm’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 transaction, the vice president now directly owns 12,031 shares in the company, valued at $1,414,484.67. This represents a 14.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company’s stock.

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.