PNC Financial Services Group Inc. Has $366,000 Stake in Materion Co. (NYSE:MTRN)

PNC Financial Services Group Inc. reduced its stake in shares of Materion Co. (NYSE:MTRN) by 11.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,704 shares of the basic materials company’s stock after selling 479 shares during the period. PNC Financial Services Group Inc.’s holdings in Materion were worth $366,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MTRN. Chatham Capital Group Inc. raised its position in shares of Materion by 47.1% during the fourth quarter. Chatham Capital Group Inc. now owns 29,021 shares of the basic materials company’s stock worth $2,870,000 after acquiring an additional 9,286 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Materion during the 4th quarter valued at approximately $10,399,000. Victory Capital Management Inc. raised its holdings in Materion by 8.7% during the 4th quarter. Victory Capital Management Inc. now owns 7,874 shares of the basic materials company’s stock worth $779,000 after purchasing an additional 627 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Materion by 4.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 264,197 shares of the basic materials company’s stock worth $26,124,000 after purchasing an additional 11,212 shares during the period. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Materion by 269.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 436 shares of the basic materials company’s stock valued at $43,000 after purchasing an additional 318 shares during the last quarter. 93.56% of the stock is owned by institutional investors and hedge funds.

Materion Price Performance

Shares of NYSE MTRN opened at $85.26 on Friday. The company has a market capitalization of $1.77 billion, a PE ratio of 293.98 and a beta of 1.20. The company has a quick ratio of 1.26, a current ratio of 3.19 and a debt-to-equity ratio of 0.48. Materion Co. has a twelve month low of $80.21 and a twelve month high of $139.21. The firm has a fifty day simple moving average of $95.40 and a 200 day simple moving average of $103.29.

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

Materion Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Thursday, February 20th were issued a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date was Thursday, February 20th. Materion’s payout ratio is 186.21%.

Insider Transactions at Materion

In other news, CFO Shelly Marie Chadwick sold 805 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $101.24, for a total transaction of $81,498.20. Following the transaction, the chief financial officer now owns 14,632 shares of the company’s stock, valued at $1,481,343.68. This represents a 5.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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.