Peregrine Capital Management LLC Makes New $4.40 Million Investment in Mativ Holdings, Inc. (NYSE:MATV)

Peregrine Capital Management LLC acquired a new stake in shares of Mativ Holdings, Inc. (NYSE:MATV - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 403,360 shares of the company's stock, valued at approximately $4,397,000. Peregrine Capital Management LLC owned approximately 0.74% of Mativ as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MATV. Empowered Funds LLC lifted its holdings in Mativ by 34.5% during the fourth quarter. Empowered Funds LLC now owns 301,432 shares of the company's stock valued at $3,286,000 after purchasing an additional 77,383 shares in the last quarter. Barclays PLC lifted its stake in shares of Mativ by 227.5% in the third quarter. Barclays PLC now owns 102,836 shares of the company's stock worth $1,748,000 after buying an additional 71,436 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Mativ in the third quarter worth about $1,158,000. JPMorgan Chase & Co. lifted its stake in shares of Mativ by 44.8% in the third quarter. JPMorgan Chase & Co. now owns 196,822 shares of the company's stock worth $3,344,000 after buying an additional 60,930 shares in the last quarter. Finally, Needham Investment Management LLC lifted its stake in shares of Mativ by 12.2% in the third quarter. Needham Investment Management LLC now owns 482,500 shares of the company's stock worth $8,198,000 after buying an additional 52,500 shares in the last quarter. 94.95% of the stock is owned by hedge funds and other institutional investors.

Mativ Price Performance

Shares of NYSE:MATV traded down $0.62 during midday trading on Friday, hitting $6.86. The company's stock had a trading volume of 1,689,959 shares, compared to its average volume of 438,854. The business's 50 day simple moving average is $9.93 and its 200 day simple moving average is $13.85. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.29 and a current ratio of 2.40. The company has a market cap of $372.50 million, a P/E ratio of -7.62, a price-to-earnings-growth ratio of 1.08 and a beta of 0.66. Mativ Holdings, Inc. has a 12-month low of $6.25 and a 12-month high of $19.96.

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

Mativ Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.84%. The ex-dividend date is Friday, March 14th. Mativ's dividend payout ratio is presently -44.44%.

Analyst Ratings Changes

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

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.