Pinnacle Associates Ltd. Decreases Position in Materion Co. (NYSE:MTRN)

Pinnacle Associates Ltd. cut its stake in shares of Materion Co. (NYSE:MTRN) by 22.0% during the third quarter, HoldingsChannel reports. The firm owned 3,550 shares of the basic materials company’s stock after selling 1,000 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Materion were worth $397,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MTRN. Ceredex Value Advisors LLC purchased a new stake in Materion during the second quarter valued at approximately $12,938,000. F M Investments LLC purchased a new stake in Materion during the second quarter valued at approximately $11,643,000. Barrow Hanley Mewhinney & Strauss LLC raised its position in Materion by 31.3% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 444,003 shares of the basic materials company’s stock valued at $48,010,000 after purchasing an additional 105,969 shares during the period. Vaughan Nelson Investment Management L.P. raised its position in Materion by 21.8% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 538,975 shares of the basic materials company’s stock valued at $58,280,000 after purchasing an additional 96,525 shares during the period. Finally, Jennison Associates LLC raised its position in Materion by 29.7% during the first quarter. Jennison Associates LLC now owns 262,121 shares of the basic materials company’s stock valued at $34,534,000 after purchasing an additional 60,030 shares during the period. 93.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Materion Trading Up 3.4 %

MTRN opened at $105.06 on Monday. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of 29.59 and a beta of 1.19. The stock’s 50 day moving average price is $106.88 and its 200-day moving average price is $110.57. Materion Co. has a one year low of $96.18 and a one year high of $145.08. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.21 and a current ratio of 3.15.

Materion (NYSE:MTRN) last released its earnings results on Wednesday, October 30th. The basic materials company reported $1.41 EPS for the quarter, meeting analysts’ consensus estimates of $1.41. The firm had revenue of $436.70 million for the quarter, compared to analysts’ expectations of $416.40 million. Materion had a return on equity of 12.06% and a net margin of 4.45%. The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.39 earnings per share. On average, equities analysts forecast that Materion Co. will post 5.25 EPS for the current year.

Materion Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Thursday, November 14th will be paid a $0.135 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.54 annualized dividend and a yield of 0.51%. Materion’s dividend payout ratio (DPR) is currently 15.21%.

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.