Bank of New York Mellon Corp Increases Stock Holdings in Mativ Holdings, Inc. (NYSE:MATV)

Bank of New York Mellon Corp boosted its position in shares of Mativ Holdings, Inc. (NYSE:MATV - Free Report) by 44.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 613,444 shares of the company's stock after acquiring an additional 187,970 shares during the quarter. Bank of New York Mellon Corp owned about 1.13% of Mativ worth $6,687,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of MATV. Peregrine Capital Management LLC acquired a new position in Mativ in the fourth quarter valued at approximately $4,397,000. Empowered Funds LLC grew its position in Mativ by 34.5% during the fourth quarter. Empowered Funds LLC now owns 301,432 shares of the company's stock valued at $3,286,000 after buying an additional 77,383 shares during the period. Barclays PLC grew its position in Mativ by 227.5% during the third quarter. Barclays PLC now owns 102,836 shares of the company's stock valued at $1,748,000 after buying an additional 71,436 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in Mativ in the third quarter valued at $1,158,000. Finally, Wolverine Asset Management LLC raised its position in shares of Mativ by 331.8% in the fourth quarter. Wolverine Asset Management LLC now owns 79,586 shares of the company's stock worth $867,000 after acquiring an additional 61,155 shares during the period. 94.95% of the stock is owned by institutional investors and hedge funds.

Mativ Price Performance

Shares of NYSE:MATV traded down $0.07 during midday trading on Thursday, reaching $6.24. 725,919 shares of the company's stock traded hands, compared to its average volume of 450,506. The company has a fifty day simple moving average of $8.37 and a two-hundred day simple moving average of $12.44. Mativ Holdings, Inc. has a 1 year low of $5.10 and a 1 year high of $19.96. The company has a market cap of $340.03 million, a P/E ratio of -6.95, a PEG ratio of 1.08 and a beta of 0.72. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.29 and a current ratio of 2.40.

Remove Ads

Mativ (NYSE:MATV - Get Free Report) last released its earnings results on Wednesday, February 19th. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.22 by ($0.17). Mativ had a positive return on equity of 3.86% and a negative net margin of 2.46%. The company had revenue of $458.60 million for the quarter, compared to analysts' expectations of $472.70 million. Equities analysts predict that Mativ Holdings, Inc. will post 1.15 EPS for the current fiscal year.

Mativ Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.41%. The ex-dividend date is Friday, March 14th. Mativ's dividend payout ratio is presently -44.44%.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus assumed coverage on Mativ in a research note on Thursday, November 21st. They issued a "hold" rating and a $15.50 price target for the company.

Mativ Company Profile

Mativ Holdings, Inc, together with its subsidiaries, manufactures and sells specialty materials in the United States, Europe, the Asia Pacific, the Americas, and internationally. The company operates through two segments, Advanced Technical Materials and Fiber-Based Solutions. The Advanced Technical Materials manufactures and sells various engineered polymer, resin and fiber-based substrates, nets, films, adhesive tapes, and other nonwovens for the filtration, protective solutions, release liners, and healthcare end-markets.