Mativ Holdings, Inc. (NYSE:MATV) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. trimmed its position in shares of Mativ Holdings, Inc. (NYSE:MATV - Free Report) by 16.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,316,474 shares of the company's stock after selling 1,010,448 shares during the period. Vanguard Group Inc. owned about 9.78% of Mativ worth $57,950,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC increased its holdings in Mativ by 113.3% in the third quarter. FMR LLC now owns 7,716 shares of the company's stock valued at $131,000 after buying an additional 4,098 shares during the last quarter. State Street Corp increased its stake in Mativ by 0.5% in the third quarter. State Street Corp now owns 2,094,310 shares of the company's stock valued at $35,582,000 after purchasing an additional 9,561 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Mativ during the 3rd quarter worth approximately $298,000. Barclays PLC boosted its holdings in shares of Mativ by 227.5% in the 3rd quarter. Barclays PLC now owns 102,836 shares of the company's stock valued at $1,748,000 after buying an additional 71,436 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Mativ by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,243,514 shares of the company's stock valued at $21,132,000 after buying an additional 14,766 shares during the last quarter. Institutional investors and hedge funds own 94.95% of the company's stock.

Mativ Stock Performance

Shares of NYSE MATV traded up $0.04 during midday trading on Thursday, reaching $4.66. 71,755 shares of the company were exchanged, compared to its average volume of 1,018,772. Mativ Holdings, Inc. has a 1 year low of $4.34 and a 1 year high of $19.96. The stock has a fifty day simple moving average of $6.54 and a 200 day simple moving average of $10.58. The company has a current ratio of 2.40, a quick ratio of 1.29 and a debt-to-equity ratio of 1.28. The stock has a market cap of $253.78 million, a P/E ratio of -5.17, a PEG ratio of 1.08 and a beta of 0.68.

Mativ (NYSE:MATV - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share 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 company had revenue of $458.60 million for the quarter, compared to analyst estimates of $472.70 million. On average, research analysts forecast that Mativ Holdings, Inc. will post 1.15 earnings per share for the current fiscal year.

Mativ Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 8.59%. The ex-dividend date was Friday, March 14th. Mativ's payout ratio is -44.44%.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus raised Mativ from a "hold" rating to a "buy" rating and reduced their target price for the company from $15.50 to $10.00 in a 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.