Wellington Management Group LLP cut its position in shares of Mativ Holdings, Inc. (NYSE:MATV - Free Report) by 7.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,801,169 shares of the company's stock after selling 219,937 shares during the quarter. Wellington Management Group LLP owned 5.16% of Mativ worth $47,592,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. State Street Corp lifted 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 buying an additional 9,561 shares during the last quarter. Point72 DIFC Ltd bought a new stake in Mativ in the third quarter valued at $35,000. Needham Investment Management LLC lifted its stake in Mativ by 12.2% in the third quarter. Needham Investment Management LLC now owns 482,500 shares of the company's stock valued at $8,198,000 after buying an additional 52,500 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Mativ in the third quarter valued at $146,000. Finally, PDT Partners LLC bought a new stake in Mativ in the third quarter valued at $817,000. 94.95% of the stock is currently owned by institutional investors.
Mativ Stock Performance
Shares of NYSE MATV traded up $0.04 during midday trading on Thursday, reaching $11.90. 215,049 shares of the company traded hands, compared to its average volume of 404,198. Mativ Holdings, Inc. has a 52 week low of $10.78 and a 52 week high of $19.96. The stock has a 50-day moving average price of $14.47 and a 200 day moving average price of $16.42. The company has a debt-to-equity ratio of 1.31, a current ratio of 2.37 and a quick ratio of 1.29. The company has a market cap of $646.60 million, a price-to-earnings ratio of 6.05, a PEG ratio of 3.37 and a beta of 0.64.
Mativ Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 29th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date is Friday, November 29th. Mativ's dividend payout ratio is currently 20.41%.
Wall Street Analyst Weigh In
Separately, Stifel Nicolaus assumed coverage on Mativ in a research note on Thursday, November 21st. They issued a "hold" rating and a $15.50 target price on the stock.
View Our Latest Research Report on MATV
About Mativ
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Free Report)
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.
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