JPMorgan Chase & Co. Has $3.10 Million Stake in Mativ Holdings, Inc. (NYSE:MATV)

JPMorgan Chase & Co. lifted its stake in Mativ Holdings, Inc. (NYSE:MATV - Free Report) by 44.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 284,348 shares of the company's stock after buying an additional 87,526 shares during the period. JPMorgan Chase & Co. owned about 0.52% of Mativ worth $3,099,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of MATV. Peregrine Capital Management LLC bought a new position in shares of Mativ during the fourth quarter valued at $4,397,000. American Century Companies Inc. increased its position in shares of Mativ by 20.2% during the 4th quarter. American Century Companies Inc. now owns 1,507,418 shares of the company's stock worth $16,431,000 after purchasing an additional 253,365 shares in the last quarter. Royce & Associates LP lifted its holdings in Mativ by 26.1% during the 4th quarter. Royce & Associates LP now owns 1,090,774 shares of the company's stock valued at $11,889,000 after purchasing an additional 226,090 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Mativ by 44.2% in the fourth quarter. Bank of New York Mellon Corp now owns 613,444 shares of the company's stock valued at $6,687,000 after buying an additional 187,970 shares in the last quarter. Finally, Sei Investments Co. grew its stake in Mativ by 174.2% during the fourth quarter. Sei Investments Co. now owns 286,992 shares of the company's stock worth $3,128,000 after buying an additional 182,341 shares during the last quarter. Institutional investors own 94.95% of the company's stock.

Mativ Price Performance

MATV traded up $0.03 during trading on Friday, hitting $5.26. The company's stock had a trading volume of 492,622 shares, compared to its average volume of 579,673. The firm's 50 day moving average price is $5.96 and its two-hundred day moving average price is $10.03. The company has a quick ratio of 1.29, a current ratio of 2.40 and a debt-to-equity ratio of 1.28. The stock has a market capitalization of $286.76 million, a price-to-earnings ratio of -5.84, a price-to-earnings-growth ratio of 1.08 and a beta of 0.68. Mativ Holdings, Inc. has a 12 month low of $4.34 and a 12 month high of $19.96.

Mativ (NYSE:MATV - Get Free Report) last released its quarterly 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 business had revenue of $458.60 million during the quarter, compared to the consensus estimate of $472.70 million. Mativ had a negative net margin of 2.46% and a positive return on equity of 3.86%. Sell-side analysts forecast that Mativ Holdings, Inc. will post 1.15 earnings per share for the current fiscal year.

Mativ Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.60%. The ex-dividend date of this dividend was Friday, March 14th. Mativ's dividend payout ratio is currently -44.44%.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus upgraded shares of Mativ from a "hold" rating to a "buy" rating and cut their target price for the company from $15.50 to $10.00 in a research note on Monday, March 24th.

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.