Stock material is supplied to a machine press by a coiled material supply apparatus which utilizes a damped follower loop control system for distributing loop reaction among two separate loops so as to reduce coil material slippage and deformation caused by high material acceleration and deceleration forces caused by an intermittent feed device. Coiled material is advanced into a coil straightener section via feed rollers and is then advanced into an intermediate damped follower drive roller section, which advances the stock material toward the intermittent feed device. An electronic controller monitors loop and press positions and generates drive signals for controlling the feed rollers, the damped follower drive rollers and the intermittent feed device to maintain optimum velocity profiles of the coil material stock being advanced at each drive roller section. By more evenly distributing the loop reaction associated with the intermittent feed device, the effects of high material acceleration and deceleration, material slippage and deformation, are lessened.