Principal Financial Group Inc. Sells 8,899 Shares of Materion Co. (NYSE:MTRN)

Principal Financial Group Inc. trimmed its position in Materion Co. (NYSE:MTRN) by 8.3% during the third quarter, HoldingsChannel.com reports. The fund owned 98,246 shares of the basic materials company’s stock after selling 8,899 shares during the quarter. Principal Financial Group Inc.’s holdings in Materion were worth $10,990,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MTRN. Renaissance Technologies LLC lifted its position in shares of Materion by 164.0% during the 2nd quarter. Renaissance Technologies LLC now owns 35,900 shares of the basic materials company’s stock worth $3,882,000 after buying an additional 22,300 shares during the last quarter. Bradley Foster & Sargent Inc. CT acquired a new position in Materion during the 2nd quarter worth approximately $757,000. Victory Capital Management Inc. boosted its position in Materion by 33.7% in the second quarter. Victory Capital Management Inc. now owns 133,940 shares of the basic materials company’s stock valued at $14,483,000 after buying an additional 33,751 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Materion by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 252,985 shares of the basic materials company’s stock worth $28,299,000 after buying an additional 5,944 shares during the last quarter. Finally, Mutual of America Capital Management LLC increased its holdings in shares of Materion by 69.6% during the third quarter. Mutual of America Capital Management LLC now owns 47,467 shares of the basic materials company’s stock worth $5,310,000 after buying an additional 19,483 shares in the last quarter. 93.56% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Materion news, CFO Shelly Marie Chadwick sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $115.92, for a total value of $115,920.00. Following the transaction, the chief financial officer now directly owns 13,200 shares of the company’s stock, valued at approximately $1,530,144. The trade was a 7.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Gregory R. Chemnitz sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $117.57, for a total transaction of $235,140.00. Following the sale, 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 disclosure for this sale can be found here. Company insiders own 2.30% of the company’s stock.

Materion Trading Down 2.0 %

NYSE MTRN opened at $100.25 on Monday. The company has a market cap of $2.08 billion, a price-to-earnings ratio of 28.24 and a beta of 1.21. Materion Co. has a twelve month low of $96.18 and a twelve month high of $145.08. The company has a quick ratio of 1.26, a current ratio of 3.15 and a debt-to-equity ratio of 0.51. The business’s fifty day moving average is $110.11 and its 200 day moving average is $109.88.

Materion (NYSE:MTRN) last issued its quarterly earnings data on Wednesday, October 30th. The basic materials company reported $1.41 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $416.40 million. During the same quarter last year, the business earned $1.39 EPS. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. As a group, sell-side analysts expect that Materion Co. will post 5.24 EPS for the current fiscal year.

Materion Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Thursday, November 14th were given a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend was Thursday, November 14th. Materion’s dividend payout ratio is currently 15.21%.

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.