Prudential Financial Inc. Purchases 56,358 Shares of Mativ Holdings, Inc. (NYSE:MATV)

Prudential Financial Inc. raised its position in Mativ Holdings, Inc. (NYSE:MATV - Free Report) by 30.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 240,228 shares of the company's stock after purchasing an additional 56,358 shares during the quarter. Prudential Financial Inc. owned 0.44% of Mativ worth $2,873,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in MATV. State Street Corp grew its position in shares of 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 buying an additional 9,561 shares during the last quarter. American Century Companies Inc. increased its position in Mativ by 20.2% during the 4th quarter. American Century Companies Inc. now owns 1,507,418 shares of the company's stock valued at $16,431,000 after purchasing an additional 253,365 shares during the period. Geode Capital Management LLC raised its holdings in Mativ by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,243,514 shares of the company's stock worth $21,132,000 after purchasing an additional 14,766 shares during the last quarter. Royce & Associates LP lifted its position in shares of Mativ by 26.1% in the 4th quarter. Royce & Associates LP now owns 1,090,774 shares of the company's stock worth $11,889,000 after purchasing an additional 226,090 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Mativ by 44.2% in the 4th quarter. Bank of New York Mellon Corp now owns 613,444 shares of the company's stock valued at $6,687,000 after purchasing an additional 187,970 shares during the last quarter. 94.95% of the stock is owned by institutional investors and hedge funds.

Mativ Trading Down 3.6 %

Shares of Mativ stock traded down $0.18 on Monday, hitting $4.69. 1,128,725 shares of the company's stock traded hands, compared to its average volume of 553,276. The company has a market capitalization of $255.42 million, a price-to-earnings ratio of -5.21, a price-to-earnings-growth ratio of 1.08 and a beta of 0.68. The company has a fifty day moving average of $7.35 and a two-hundred day moving average of $11.24. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.40 and a quick ratio of 1.29. Mativ Holdings, Inc. has a one year low of $4.34 and a one year high of $19.96.

Mativ (NYSE:MATV - Get Free Report) last posted 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 for the quarter, compared to the consensus estimate of $472.70 million. Mativ had a positive return on equity of 3.86% and a negative net margin of 2.46%. As a group, sell-side analysts expect that Mativ Holdings, Inc. will post 1.15 earnings per share for the current year.

Mativ Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a dividend of $0.10 per share. The ex-dividend date was Friday, March 14th. This represents a $0.40 annualized dividend and a dividend yield of 8.54%. Mativ's dividend payout ratio is currently -44.44%.

Analyst Ratings Changes

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

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.