Charles Schwab Investment Management Inc. Cuts Stake in Mativ Holdings, Inc. (NYSE:MATV)

Charles Schwab Investment Management Inc. trimmed its holdings in Mativ Holdings, Inc. (NYSE:MATV - Free Report) by 19.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 687,140 shares of the company's stock after selling 166,200 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.26% of Mativ worth $7,490,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Point72 DIFC Ltd purchased a new stake in Mativ in the third quarter valued at approximately $35,000. KBC Group NV raised its position in Mativ by 93.2% in the 4th quarter. KBC Group NV now owns 4,787 shares of the company's stock valued at $52,000 after purchasing an additional 2,309 shares during the last quarter. Truvestments Capital LLC acquired a new stake in Mativ during the 3rd quarter worth $82,000. FMR LLC grew its position in Mativ by 113.3% during the 3rd quarter. FMR LLC now owns 7,716 shares of the company's stock worth $131,000 after purchasing an additional 4,098 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Mativ in the third quarter valued at $146,000. 94.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Stifel Nicolaus upgraded shares of Mativ from a "hold" rating to a "buy" rating and cut their price objective for the stock from $15.50 to $10.00 in a research report on Monday.

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Mativ Price Performance

Shares of MATV traded up $0.15 during mid-day trading on Thursday, reaching $6.64. 956,080 shares of the company's stock were exchanged, compared to its average volume of 1,068,348. Mativ Holdings, Inc. has a 52-week low of $5.10 and a 52-week high of $19.96. The company has a market cap of $361.73 million, a price-to-earnings ratio of -7.37, a PEG ratio of 1.08 and a beta of 0.72. The company has a 50-day simple moving average of $8.03 and a two-hundred day simple moving average of $12.02. The company has a quick ratio of 1.29, a current ratio of 2.40 and a debt-to-equity ratio of 1.28.

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

Mativ Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.40 annualized dividend and a yield of 6.03%. Mativ's dividend payout ratio (DPR) is presently -44.44%.

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.