Hennessy Advisors Inc. Purchases 12,500 Shares of Materion Co. (NYSE:MTRN)

Hennessy Advisors Inc. grew its position in shares of Materion Co. (NYSE:MTRN) by 44.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,900 shares of the basic materials company’s stock after buying an additional 12,500 shares during the quarter. Hennessy Advisors Inc. owned 0.20% of Materion worth $5,389,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CENTRAL TRUST Co lifted its holdings in shares of Materion by 529.0% during the 4th quarter. CENTRAL TRUST Co now owns 195 shares of the basic materials company’s stock valued at $25,000 after buying an additional 164 shares during the period. Quest Partners LLC bought a new position in shares of Materion during the 4th quarter valued at $44,000. SRS Capital Advisors Inc. lifted its holdings in shares of Materion by 285.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 428 shares of the basic materials company’s stock valued at $56,000 after buying an additional 317 shares during the period. Anchor Investment Management LLC bought a new position in shares of Materion during the 4th quarter valued at $137,000. Finally, AdvisorNet Financial Inc lifted its holdings in shares of Materion by 189.6% during the 4th quarter. AdvisorNet Financial Inc now owns 1,222 shares of the basic materials company’s stock valued at $159,000 after buying an additional 800 shares during the period. 93.56% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, KeyCorp decreased their target price on Materion from $156.00 to $152.00 and set an “overweight” rating on the stock in a report on Friday, May 10th.

Materion Stock Performance

Materion stock traded down $1.27 during trading on Thursday, reaching $107.38. The company had a trading volume of 136,407 shares, compared to its average volume of 101,144. Materion Co. has a 52 week low of $92.23 and a 52 week high of $145.08. The firm’s 50-day simple moving average is $112.21 and its 200 day simple moving average is $121.43. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of 26.91 and a beta of 1.21. The company has a current ratio of 2.91, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50.

Materion (NYSE:MTRN) last announced its 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 company had revenue of $385.29 million during the quarter, compared to the consensus estimate of $386.84 million. During the same period in the prior year, the business posted $1.34 earnings per share. Materion’s revenue for the quarter was down 12.9% compared to the same quarter last year. Sell-side analysts forecast that Materion Co. will post 5.84 earnings per share for the current fiscal year.

Materion Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Thursday, May 23rd were paid a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date was Wednesday, May 22nd. This is a positive change from Materion’s previous quarterly dividend of $0.13. Materion’s dividend payout ratio is presently 13.53%.

Insiders Place Their Bets

In other Materion news, Director Emily M. Liggett sold 1,152 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $111.86, for a total value of $128,862.72. Following the completion of the sale, the director now owns 2,621 shares in the company, valued at approximately $293,185.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Emily M. Liggett sold 1,152 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $111.86, for a total value of $128,862.72. Following the completion of the transaction, the director now owns 2,621 shares of the company’s stock, valued at $293,185.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Gregory R. Chemnitz sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $113.31, for a total transaction of $226,620.00. Following the completion of the transaction, the vice president now directly owns 18,031 shares of the company’s stock, valued at approximately $2,043,092.61. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by company insiders.

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.