Mativ Holdings, Inc. $MATV Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its stake in Mativ Holdings, Inc. (NYSE:MATV) by 8.3% during the third quarter, Holdings Channel reports. The institutional investor owned 3,845,074 shares of the company’s stock after selling 349,530 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.07% of Mativ worth $43,411,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Wolverine Asset Management LLC grew its position in Mativ by 31.4% during the second quarter. Wolverine Asset Management LLC now owns 166,658 shares of the company’s stock valued at $1,137,000 after buying an additional 39,796 shares during the period. Hsbc Holdings PLC raised its position in shares of Mativ by 61.2% in the first quarter. Hsbc Holdings PLC now owns 38,828 shares of the company’s stock worth $242,000 after acquiring an additional 14,734 shares during the period. American Century Companies Inc. boosted its stake in shares of Mativ by 8.1% during the 2nd quarter. American Century Companies Inc. now owns 1,690,831 shares of the company’s stock worth $11,531,000 after acquiring an additional 126,136 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of Mativ during the 2nd quarter valued at about $1,470,000. Finally, Cubist Systematic Strategies LLC increased its stake in shares of Mativ by 84.6% in the 1st quarter. Cubist Systematic Strategies LLC now owns 223,364 shares of the company’s stock valued at $1,392,000 after purchasing an additional 102,376 shares in the last quarter. 94.95% of the stock is currently owned by hedge funds and other institutional investors.

Mativ Price Performance

NYSE:MATV opened at $12.14 on Friday. The stock has a 50 day moving average of $12.14 and a two-hundred day moving average of $10.54. Mativ Holdings, Inc. has a 12 month low of $4.34 and a 12 month high of $13.57. The firm has a market cap of $663.82 million, a P/E ratio of -1.51 and a beta of 0.83. The company has a current ratio of 2.14, a quick ratio of 1.09 and a debt-to-equity ratio of 2.62.

Mativ (NYSE:MATV) last released its earnings results on Wednesday, November 5th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.12. Mativ had a positive return on equity of 7.06% and a negative net margin of 22.03%.The business had revenue of $513.70 million for the quarter, compared to the consensus estimate of $505.00 million. On average, analysts expect 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, December 19th. Shareholders of record on Friday, November 28th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Friday, November 28th. Mativ’s payout ratio is -4.98%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Wall Street Zen upgraded Mativ from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Zacks Research downgraded Mativ from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 7th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Mativ in a research report on Monday. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $10.00.

Mativ Profile

Mativ is a global supplier of specialty fiber-based materials and engineered solutions, established in April 2021 through the spin-off of Ahlstrom-Munksjö’s global filtration and engineered materials business. Trading on the New York Stock Exchange under the ticker MATV, the company focuses on designing and manufacturing high-performance products for a broad range of end markets, including life sciences, energy storage, industrial filtration, and consumer products.

Through its Advanced Solutions segment, Mativ produces innovative materials such as lithium-ion battery separators, specialty release liners, and pressure-sensitive adhesive tapes.