Mativ Holdings, Inc. (NYSE:MATV) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its stake in Mativ Holdings, Inc. (NYSE:MATV - Free Report) by 44.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 196,822 shares of the company's stock after buying an additional 60,930 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.36% of Mativ worth $3,344,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. nVerses Capital LLC purchased a new position in Mativ during the third quarter worth approximately $25,000. Point72 DIFC Ltd purchased a new position in Mativ during the third quarter worth approximately $35,000. Creative Planning boosted its position in Mativ by 17.6% during the third quarter. Creative Planning now owns 15,330 shares of the company's stock worth $260,000 after purchasing an additional 2,295 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Mativ by 8.3% during the third quarter. Franklin Resources Inc. now owns 34,362 shares of the company's stock valued at $574,000 after acquiring an additional 2,648 shares during the last quarter. Finally, FMR LLC raised its holdings in shares of Mativ by 113.3% during the third quarter. FMR LLC now owns 7,716 shares of the company's stock valued at $131,000 after acquiring an additional 4,098 shares during the last quarter. Hedge funds and other institutional investors own 94.95% of the company's stock.

Mativ Price Performance

Shares of Mativ stock traded down $0.11 during mid-day trading on Monday, reaching $9.56. 366,578 shares of the stock traded hands, compared to its average volume of 553,727. The business has a 50-day moving average of $11.70 and a 200 day moving average of $15.21. Mativ Holdings, Inc. has a fifty-two week low of $9.44 and a fifty-two week high of $19.96. The stock has a market capitalization of $519.65 million, a PE ratio of 4.88, a PEG ratio of 1.39 and a beta of 0.68. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, November 29th were issued a dividend of $0.10 per share. The ex-dividend date was Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.18%. Mativ's payout ratio is currently 20.41%.

Wall Street Analysts Forecast Growth

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

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.