Citizens Financial Group Inc. RI Invests $276,000 in Materion Co. (NYSE:MTRN)

Citizens Financial Group Inc. RI acquired a new stake in Materion Co. (NYSE:MTRN) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,551 shares of the basic materials company’s stock, valued at approximately $276,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of MTRN. Opal Wealth Advisors LLC acquired a new position in Materion during the 2nd quarter valued at approximately $25,000. Quest Partners LLC increased its position in shares of Materion by 25,600.0% in the 2nd quarter. Quest Partners LLC now owns 257 shares of the basic materials company’s stock valued at $28,000 after acquiring an additional 256 shares during the period. Lynx Investment Advisory acquired a new position in shares of Materion in the 2nd quarter valued at $38,000. Brown Lisle Cummings Inc. purchased a new position in Materion in the 2nd quarter worth $92,000. Finally, SG Americas Securities LLC acquired a new stake in Materion during the 1st quarter worth about $150,000. 93.56% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Materion from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th.

Materion Stock Performance

Shares of NYSE MTRN opened at $106.72 on Thursday. The company has a 50 day simple moving average of $112.28 and a two-hundred day simple moving average of $116.01. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of 26.75 and a beta of 1.18. The company has a current ratio of 3.25, a quick ratio of 1.21 and a debt-to-equity ratio of 0.51. Materion Co. has a 12 month low of $92.23 and a 12 month high of $145.08.

Materion (NYSE:MTRN) last posted its earnings results on Monday, August 5th. The basic materials company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. The company had revenue of $425.87 million during the quarter, compared to the consensus estimate of $424.02 million. Materion had a net margin of 4.80% and a return on equity of 12.20%. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.38 earnings per share. As a group, analysts predict that Materion Co. will post 5.74 earnings per share for the current year.

Materion Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were issued a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 0.51%. The ex-dividend date was Friday, August 23rd. Materion’s dividend payout ratio (DPR) is 13.53%.

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.