Oregon Public Employees Retirement Fund grew its position in Materion Co. (NYSE:MTRN – Get Rating) by 2.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,765 shares of the basic materials company's stock after buying an additional 152 shares during the quarter. Oregon Public Employees Retirement Fund's holdings in Materion were worth $541,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in MTRN. Whittier Trust Co. purchased a new stake in Materion during the 3rd quarter worth about $40,000. Ellevest Inc. increased its position in Materion by 264.7% during the 2nd quarter. Ellevest Inc. now owns 1,178 shares of the basic materials company's stock worth $87,000 after purchasing an additional 855 shares in the last quarter. First Horizon Advisors Inc. increased its position in Materion by 1,385.4% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,426 shares of the basic materials company's stock worth $104,000 after purchasing an additional 1,330 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in Materion during the 2nd quarter worth about $111,000. Finally, KBC Group NV purchased a new stake in Materion during the 2nd quarter worth about $131,000. Hedge funds and other institutional investors own 95.66% of the company's stock.
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Analysts Set New Price Targets
A number of analysts recently commented on MTRN shares. KeyCorp lifted their price objective on Materion from $90.00 to $92.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 21st. StockNews.com assumed coverage on Materion in a research note on Wednesday, October 12th. They issued a "hold" rating on the stock.
Materion Stock Up 0.3 %
Shares of NYSE:MTRN opened at $91.45 on Friday. The stock's 50-day moving average price is $86.32 and its two-hundred day moving average price is $83.67. The company has a current ratio of 3.51, a quick ratio of 1.43 and a debt-to-equity ratio of 0.64. Materion Co. has a 12-month low of $64.89 and a 12-month high of $97.89. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of 24.65 and a beta of 1.12.
Materion (NYSE:MTRN – Get Rating) last issued its quarterly earnings results on Wednesday, November 2nd. The basic materials company reported $1.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.45 by ($0.26). The business had revenue of $428.19 million during the quarter, compared to analyst estimates of $452.30 million. Materion had a return on equity of 13.42% and a net margin of 4.47%. On average, research analysts forecast that Materion Co. will post 5.19 EPS for the current year.
Materion Profile
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Materion Corporation, through 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. It operates through Performance Alloys and Composites, Advanced Materials, and Precision Optics segments.
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