Mativ (NYSE:MATV) Hits New 52-Week Low - What's Next?

Mativ Holdings, Inc. (NYSE:MATV - Get Free Report) reached a new 52-week low during trading on Wednesday . The company traded as low as $9.44 and last traded at $9.49, with a volume of 369627 shares traded. The stock had previously closed at $9.92.

Analysts Set New Price Targets

Separately, Stifel Nicolaus began coverage on shares of Mativ in a research note on Thursday, November 21st. They set a "hold" rating and a $15.50 price target on the stock.

Mativ Stock Down 4.3 %

The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.29 and a current ratio of 2.37. The firm's fifty day simple moving average is $11.62 and its 200 day simple moving average is $15.16. The stock has a market capitalization of $515.69 million, a price-to-earnings ratio of 4.84, a P/E/G ratio of 1.39 and a beta of 0.68.

Mativ (NYSE:MATV - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.21 EPS for the quarter, missing analysts' consensus estimates of $0.26 by ($0.05). Mativ had a net margin of 5.44% and a return on equity of 4.88%. The firm had revenue of $498.50 million during the quarter, compared to the consensus estimate of $523.80 million. During the same quarter last year, the firm earned $0.21 earnings per share. On average, sell-side analysts forecast that Mativ Holdings, Inc. will post 0.6 earnings per share for the current year.

Mativ Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, November 29th were given a dividend of $0.10 per share. The ex-dividend date was Friday, November 29th. This represents a $0.40 annualized dividend and a yield of 4.21%. Mativ's dividend payout ratio (DPR) is presently 20.41%.

Hedge Funds Weigh In On Mativ

Hedge funds and other institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its position in shares of Mativ by 0.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,037,011 shares of the company's stock valued at $68,589,000 after purchasing an additional 25,885 shares during the period. Dimensional Fund Advisors LP grew its stake in Mativ by 2.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,154,818 shares of the company's stock valued at $36,546,000 after buying an additional 52,858 shares during the last quarter. State Street Corp raised its holdings in Mativ by 0.5% in the 3rd quarter. State Street Corp now owns 2,094,310 shares of the company's stock valued at $35,582,000 after acquiring an additional 9,561 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Mativ by 1.2% during the third quarter. Geode Capital Management LLC now owns 1,243,514 shares of the company's stock worth $21,132,000 after acquiring an additional 14,766 shares during the period. Finally, Royce & Associates LP increased its stake in shares of Mativ by 4.8% during the third quarter. Royce & Associates LP now owns 864,684 shares of the company's stock worth $14,691,000 after purchasing an additional 39,690 shares during the period. 94.95% of the stock is owned by institutional investors.

About Mativ

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.

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