Jennison Associates LLC Has $26.30 Million Stake in Materion Co. (NYSE:MTRN)

Jennison Associates LLC trimmed its position in shares of Materion Co. (NYSE:MTRN) by 0.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 202,091 shares of the basic materials company’s stock after selling 184 shares during the period. Jennison Associates LLC owned 0.98% of Materion worth $26,298,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Materion by 1.4% in the third quarter. Vanguard Group Inc. now owns 2,531,802 shares of the basic materials company’s stock valued at $258,016,000 after purchasing an additional 35,888 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Materion in the fourth quarter valued at $31,311,000. Louisiana State Employees Retirement System acquired a new position in shares of Materion in the fourth quarter valued at $1,340,000. Nordea Investment Management AB grew its stake in shares of Materion by 18.0% in the third quarter. Nordea Investment Management AB now owns 75,436 shares of the basic materials company’s stock valued at $7,717,000 after acquiring an additional 11,520 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Materion by 67.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 31,026 shares of the basic materials company’s stock valued at $4,037,000 after acquiring an additional 12,470 shares in the last quarter. 93.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, KeyCorp decreased their price target on shares of Materion from $157.00 to $156.00 and set an “overweight” rating on the stock in a research note on Monday, April 1st.

Materion Trading Down 1.3 %

MTRN stock opened at $118.38 on Thursday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.05 and a current ratio of 2.78. The company’s 50-day simple moving average is $129.63 and its 200 day simple moving average is $119.81. Materion Co. has a 52 week low of $92.23 and a 52 week high of $145.08. The company has a market capitalization of $2.45 billion, a PE ratio of 25.85 and a beta of 1.14.

Materion (NYSE:MTRN) last released its quarterly earnings results on Thursday, February 15th. The basic materials company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.38 by $0.03. Materion had a net margin of 5.75% and a return on equity of 13.49%. The business had revenue of $421.00 million for the quarter, compared to the consensus estimate of $420.50 million. During the same period in the prior year, the company posted $1.49 earnings per share. Materion’s revenue was down 3.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Materion Co. will post 6.03 earnings per share for the current year.

Materion Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Thursday, February 22nd were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $0.52 annualized dividend and a yield of 0.44%. Materion’s dividend payout ratio is 11.35%.

Insider Buying and Selling

In related news, VP Gregory R. Chemnitz sold 3,000 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $133.74, for a total transaction of $401,220.00. Following the completion of the sale, the vice president now owns 14,510 shares of the company’s stock, valued at $1,940,567.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Gregory R. Chemnitz sold 3,000 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $133.74, for a total transaction of $401,220.00. Following the completion of the sale, the vice president now owns 14,510 shares of the company’s stock, valued at $1,940,567.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Shelly Marie Chadwick sold 2,000 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $132.60, for a total transaction of $265,200.00. Following the sale, the chief financial officer now directly owns 13,147 shares of the company’s stock, valued at approximately $1,743,292.20. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company 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.