Russell Investments Group Ltd. Decreases Stock Holdings in Mativ Holdings, Inc. (NYSE:MATV)

Russell Investments Group Ltd. lowered its holdings in Mativ Holdings, Inc. (NYSE:MATV - Free Report) by 35.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 269,101 shares of the company's stock after selling 149,574 shares during the quarter. Russell Investments Group Ltd. owned 0.50% of Mativ worth $2,933,000 as of its most recent SEC filing.

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

Mativ Price Performance

Mativ stock traded up $0.12 during trading on Wednesday, reaching $5.04. The company had a trading volume of 59,920 shares, compared to its average volume of 1,004,706. The firm has a market capitalization of $274.77 million, a PE ratio of -5.60, a price-to-earnings-growth ratio of 1.08 and a beta of 0.68. The firm's 50-day simple moving average is $6.27 and its 200 day simple moving average is $10.25. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.29 and a current ratio of 2.40. Mativ Holdings, Inc. has a 1-year low of $4.34 and a 1-year high of $19.96.

Mativ (NYSE:MATV - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $472.70 million. As a group, equities research analysts anticipate that Mativ Holdings, Inc. will post 1.15 earnings per share for the current fiscal year.

Mativ Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 7.94%. The ex-dividend date of this dividend was Friday, March 14th. Mativ's dividend payout ratio is currently -44.44%.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus upgraded Mativ from a "hold" rating to a "buy" rating and lowered their price target for the stock from $15.50 to $10.00 in a research report 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.