Wellington Management Group LLP Sells 660,333 Shares of Mativ Holdings, Inc. (NYSE:MATV)

Wellington Management Group LLP reduced its stake in shares of Mativ Holdings, Inc. (NYSE:MATV - Free Report) by 23.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,140,836 shares of the company's stock after selling 660,333 shares during the period. Wellington Management Group LLP owned 3.94% of Mativ worth $23,335,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Peregrine Capital Management LLC acquired a new position in Mativ during the fourth quarter worth $4,397,000. American Century Companies Inc. increased its position in shares of Mativ by 20.2% during the fourth quarter. American Century Companies Inc. now owns 1,507,418 shares of the company's stock worth $16,431,000 after acquiring an additional 253,365 shares in the last quarter. Royce & Associates LP raised its holdings 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 acquiring an additional 226,090 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Mativ by 44.2% during 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. Finally, Sei Investments Co. increased its holdings in Mativ by 174.2% during the 4th quarter. Sei Investments Co. now owns 286,992 shares of the company's stock worth $3,128,000 after purchasing an additional 182,341 shares in the last quarter. Institutional investors and hedge funds own 94.95% of the company's stock.

Analyst Upgrades and Downgrades

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 research note on Monday, March 24th.

Mativ Trading Up 2.0 %

Shares of NYSE MATV traded up $0.10 during mid-day trading on Friday, hitting $4.84. The stock had a trading volume of 678,546 shares, compared to its average volume of 566,042. The firm has a market cap of $263.59 million, a P/E ratio of -5.37, a price-to-earnings-growth ratio of 1.08 and a beta of 0.68. 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 business has a 50 day moving average price of $6.80 and a two-hundred day moving average price of $10.80. 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 announced its quarterly earnings results 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 negative net margin of 2.46% and a positive return on equity of 3.86%. The company had revenue of $458.60 million for the quarter, compared to analysts' expectations of $472.70 million. On average, equities analysts anticipate that Mativ Holdings, Inc. will post 1.15 EPS for the current fiscal year.

Mativ Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.40 dividend on an annualized basis and a yield of 8.27%. Mativ's dividend payout ratio is currently -44.44%.

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.