Maryland State Retirement & Pension System Has $976,000 Position in Materion Co. (NYSE:MTRN)

Maryland State Retirement & Pension System lessened its holdings in Materion Co. (NYSE:MTRN) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,500 shares of the basic materials company’s stock after selling 101 shares during the period. Maryland State Retirement & Pension System’s holdings in Materion were worth $976,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Materion by 23.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,265 shares of the basic materials company’s stock valued at $435,000 after purchasing an additional 810 shares during the last quarter. Strs Ohio acquired a new position in shares of Materion in the third quarter valued at $203,000. Mirae Asset Global Investments Co. Ltd. lifted its position in Materion by 8.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 171,674 shares of the basic materials company’s stock worth $17,495,000 after purchasing an additional 13,680 shares during the period. Advisor Partners II LLC acquired a new stake in Materion during the third quarter worth $334,000. Finally, Inspire Investing LLC lifted its holdings in shares of Materion by 10.3% during the 3rd quarter. Inspire Investing LLC now owns 3,028 shares of the basic materials company’s stock worth $309,000 after acquiring an additional 284 shares during the period. 93.56% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, KeyCorp dropped their price target on shares of Materion from $157.00 to $156.00 and set an “overweight” rating for the company in a research report on Monday, April 1st.

Materion Trading Up 3.2 %

Shares of MTRN stock opened at $112.99 on Friday. The company has a market capitalization of $2.34 billion, a P/E ratio of 28.32 and a beta of 1.17. The firm has a 50-day moving average price of $125.12 and a 200 day moving average price of $120.80. The company has a quick ratio of 1.07, a current ratio of 2.91 and a debt-to-equity ratio of 0.50. Materion Co. has a 12-month low of $92.23 and a 12-month high of $145.08.

Materion (NYSE:MTRN) last released its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.02). Materion had a return on equity of 12.32% and a net margin of 5.19%. The business had revenue of $385.29 million for the quarter, compared to the consensus estimate of $386.84 million. During the same quarter last year, the company earned $1.34 earnings per share. The firm’s revenue was down 12.9% on a year-over-year basis. Research analysts forecast that Materion Co. will post 5.93 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Shelly Marie Chadwick sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $132.60, for a total value of $265,200.00. Following the completion of the sale, the chief financial officer now owns 13,147 shares of the company’s stock, valued at $1,743,292.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Materion news, CFO Shelly Marie Chadwick sold 2,000 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $132.60, for a total transaction of $265,200.00. Following the completion of the sale, the chief financial officer now directly owns 13,147 shares of the company’s stock, valued at approximately $1,743,292.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Gregory R. Chemnitz sold 3,000 shares of Materion stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $133.74, for a total transaction of $401,220.00. Following the sale, the vice president now owns 14,510 shares of the company’s stock, valued at approximately $1,940,567.40. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Materion 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.