Phocas Financial Corp. Sells 64,926 Shares of Materion Co. (NYSE:MTRN)

Phocas Financial Corp. decreased its holdings in Materion Co. (NYSE:MTRN) by 85.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 11,461 shares of the basic materials company’s stock after selling 64,926 shares during the quarter. Phocas Financial Corp.’s holdings in Materion were worth $1,133,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Mountaineer Partners Management LLC boosted its position in shares of Materion by 9,463.5% during the third quarter. Mountaineer Partners Management LLC now owns 9,147,463 shares of the basic materials company’s stock worth $1,023,235,000 after acquiring an additional 9,051,813 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in shares of Materion by 12.0% in the third 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 last quarter. abrdn plc boosted its stake in Materion by 19.8% during the third quarter. abrdn plc now owns 258,728 shares of the basic materials company’s stock valued at $28,941,000 after buying an additional 42,717 shares during the last quarter. Intech Investment Management LLC boosted its position in shares of Materion by 435.3% during the 3rd quarter. Intech Investment Management LLC now owns 35,823 shares of the basic materials company’s stock valued at $4,007,000 after acquiring an additional 29,131 shares during the last quarter. Finally, Barclays PLC raised its stake in Materion by 356.9% during the third quarter. Barclays PLC now owns 34,877 shares of the basic materials company’s stock valued at $3,902,000 after purchasing an additional 27,244 shares in the last quarter. Hedge funds and other institutional investors own 93.56% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Shelly Marie Chadwick sold 805 shares of the firm’s stock in a transaction that occurred on 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 directly owns 14,632 shares of the company’s stock, valued at approximately $1,481,343.68. This trade represents a 5.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.30% of the company’s stock.

Materion Trading Down 0.8 %

MTRN opened at $92.31 on Wednesday. The firm has a market cap of $1.92 billion, a P/E ratio of 318.32 and a beta of 1.23. The company has a current ratio of 3.19, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48. The stock has a 50-day moving average of $99.36 and a 200 day moving average of $106.36. Materion Co. has a 12 month low of $91.76 and a 12 month high of $139.21.

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

Materion Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Thursday, February 20th will be issued a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend is Thursday, February 20th. Materion’s payout ratio is currently 186.21%.

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.