Wesbanco Bank Inc. Buys New Shares in Materion Co. (NYSE:MTRN)

Wesbanco Bank Inc. bought a new stake in Materion Co. (NYSE:MTRN) during the 4th quarter, HoldingsChannel.com reports. The fund bought 4,000 shares of the basic materials company’s stock, valued at approximately $396,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Mountaineer Partners Management LLC grew its position in Materion by 9,463.5% during the 3rd quarter. Mountaineer Partners Management LLC now owns 9,147,463 shares of the basic materials company’s stock worth $1,023,235,000 after purchasing an additional 9,051,813 shares during the period. Vaughan Nelson Investment Management L.P. grew its position in Materion by 12.0% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 603,445 shares of the basic materials company’s stock worth $67,501,000 after purchasing an additional 64,470 shares during the period. Geode Capital Management LLC grew its position in Materion by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 466,972 shares of the basic materials company’s stock worth $52,246,000 after purchasing an additional 2,953 shares during the period. abrdn plc grew its position in Materion by 19.8% during the 3rd quarter. abrdn plc now owns 258,728 shares of the basic materials company’s stock worth $28,941,000 after purchasing an additional 42,717 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Materion by 2.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 252,985 shares of the basic materials company’s stock worth $28,299,000 after purchasing an additional 5,944 shares during the period. 93.56% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Materion

In related news, VP Gregory R. Chemnitz sold 2,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $117.57, for a total value of $235,140.00. Following the transaction, the vice president now directly owns 12,031 shares of the company’s stock, valued at approximately $1,414,484.67. This trade represents a 14.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Shelly Marie Chadwick sold 1,000 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $115.92, for a total transaction of $115,920.00. Following the completion of the transaction, the chief financial officer now directly owns 13,200 shares in the company, valued at $1,530,144. This represents a 7.04 % 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.

Materion Price Performance

Shares of MTRN opened at $102.26 on Friday. The business’s 50-day moving average is $105.58 and its two-hundred day moving average is $108.72. The company has a market capitalization of $2.12 billion, a P/E ratio of 28.81 and a beta of 1.24. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.26 and a current ratio of 3.15. Materion Co. has a fifty-two week low of $93.20 and a fifty-two week high of $145.08.

Materion (NYSE:MTRN) last posted its earnings results on Wednesday, October 30th. The basic materials company reported $1.41 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.41. Materion had a net margin of 4.45% and a return on equity of 12.06%. The business had revenue of $436.70 million for the quarter, compared to analyst estimates of $416.40 million. During the same period in the prior year, the company posted $1.39 EPS. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. Research analysts predict that Materion Co. will post 5.22 earnings per share for the current year.

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.