Materion Co. (NYSE:MTRN) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. reduced its position in Materion Co. (NYSE:MTRN) by 7.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 10,969 shares of the basic materials company’s stock after selling 855 shares during the period. Corebridge Financial Inc. owned 0.05% of Materion worth $1,085,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. FMR LLC boosted its stake in Materion by 23.8% during the 3rd quarter. FMR LLC now owns 15,027 shares of the basic materials company’s stock worth $1,681,000 after purchasing an additional 2,891 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Materion by 30.5% during the third quarter. BNP Paribas Financial Markets now owns 11,131 shares of the basic materials company’s stock worth $1,245,000 after buying an additional 2,604 shares during the period. Captrust Financial Advisors purchased a new position in shares of Materion during the third quarter worth about $286,000. Verition Fund Management LLC acquired a new position in Materion in the 3rd quarter valued at about $454,000. Finally, Centiva Capital LP purchased a new stake in Materion during the 3rd quarter valued at approximately $259,000. 93.56% of the stock is owned by institutional investors and hedge funds.

Materion Trading Down 1.7 %

Shares of MTRN stock opened at $73.89 on Friday. The company has a market capitalization of $1.53 billion, a P/E ratio of 254.78 and a beta of 1.21. 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 business’s 50 day moving average is $91.61 and its two-hundred day moving average is $101.57. Materion Co. has a twelve month low of $69.10 and a twelve month high of $129.60.

Materion (NYSE:MTRN) last announced its quarterly earnings data on Wednesday, February 19th. The basic materials company reported $1.55 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $433.22 million. During the same period in the previous year, the company posted $1.41 EPS. Materion’s revenue was up 3.8% compared to the same quarter last year. Equities analysts forecast that Materion Co. will post 5.5 EPS for the current year.

Materion Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Thursday, February 20th were issued a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend was Thursday, February 20th. Materion’s dividend payout ratio is presently 186.21%.

Insiders Place Their Bets

In other Materion news, CFO Shelly Marie Chadwick sold 805 shares of the business’s stock in a transaction 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 sale, the chief financial officer now directly owns 14,632 shares in the company, valued at approximately $1,481,343.68. The trade was a 5.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.60% of the stock is currently owned by insiders.

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.