Charles Schwab Investment Management Inc. Sells 116,303 Shares of Mativ Holdings, Inc. (NYSE:MATV)

Charles Schwab Investment Management Inc. cut its holdings in Mativ Holdings, Inc. (NYSE:MATV - Free Report) by 12.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 853,340 shares of the company's stock after selling 116,303 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.57% of Mativ worth $14,498,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of MATV. nVerses Capital LLC acquired a new position in Mativ in the 3rd quarter valued at $25,000. Renaissance Technologies LLC acquired a new position in Mativ in the second quarter valued at about $185,000. Radnor Capital Management LLC bought a new stake in Mativ during the third quarter worth about $186,000. Cornercap Investment Counsel Inc. acquired a new stake in Mativ during the third quarter worth about $228,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Mativ in the 3rd quarter valued at about $252,000. 94.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus started coverage on shares of Mativ in a report on Thursday, November 21st. They set a "hold" rating and a $15.50 price target for the company.

Mativ Price Performance

Shares of MATV traded down $0.09 during midday trading on Monday, hitting $12.04. The company's stock had a trading volume of 390,206 shares, compared to its average volume of 402,188. The company has a quick ratio of 1.29, a current ratio of 2.37 and a debt-to-equity ratio of 1.31. Mativ Holdings, Inc. has a one year low of $10.78 and a one year high of $19.96. The stock has a market capitalization of $654.25 million, a price-to-earnings ratio of 6.19, a price-to-earnings-growth ratio of 3.37 and a beta of 0.64. The company's fifty day simple moving average is $14.75 and its two-hundred day simple moving average is $16.55.

Mativ Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, November 29th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend is Friday, November 29th. Mativ's dividend payout ratio is presently 20.41%.

Mativ 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.