CIBC Asset Management Inc Takes Position in Materion Co. (NYSE:MTRN)

CIBC Asset Management Inc bought a new stake in Materion Co. (NYSE:MTRN) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,043 shares of the basic materials company’s stock, valued at approximately $202,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. raised its holdings in shares of Materion by 3.0% in the fourth quarter. Principal Financial Group Inc. now owns 101,203 shares of the basic materials company’s stock valued at $10,007,000 after purchasing an additional 2,957 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Materion by 4.4% in the fourth quarter. Rhumbline Advisers now owns 65,599 shares of the basic materials company’s stock valued at $6,486,000 after purchasing an additional 2,761 shares during the last quarter. Consolidated Planning Corp raised its holdings in shares of Materion by 65.4% in the fourth quarter. Consolidated Planning Corp now owns 4,451 shares of the basic materials company’s stock valued at $440,000 after purchasing an additional 1,760 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in shares of Materion by 3.7% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 625,767 shares of the basic materials company’s stock valued at $61,876,000 after purchasing an additional 22,322 shares during the last quarter. Finally, Choreo LLC purchased a new stake in Materion during the fourth quarter worth about $315,000. Hedge funds and other institutional investors own 93.56% of the company’s stock.

Materion Stock Performance

NYSE MTRN opened at $93.00 on Thursday. Materion Co. has a 52-week low of $91.72 and a 52-week high of $139.21. The company has a 50-day simple moving average of $99.21 and a 200 day simple moving average of $106.27. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.26 and a current ratio of 3.19. The company has a market capitalization of $1.93 billion, a PE ratio of 320.69 and a beta of 1.23.

Materion (NYSE:MTRN) last posted its quarterly earnings data on Wednesday, February 19th. The basic materials company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.12. Materion had a net margin of 0.35% and a return on equity of 12.42%. The business had revenue of $436.90 million during the quarter, compared to the consensus estimate of $433.22 million. During the same quarter last year, the company posted $1.41 earnings per share. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, research analysts predict that Materion Co. will post 5.5 EPS for the current year.

Materion Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Thursday, February 20th will be paid a $0.135 dividend. The ex-dividend date is Thursday, February 20th. This represents a $0.54 annualized dividend and a dividend yield of 0.58%. Materion’s payout ratio is 186.21%.

Insider Transactions at Materion

In other news, CFO Shelly Marie Chadwick sold 1,000 shares of Materion 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 transaction, the chief financial officer now owns 13,200 shares in the company, valued at $1,530,144. This trade represents a 7.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.30% of the company’s stock.

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.