First Eagle Investment Management LLC Purchases 133,500 Shares of Mativ Holdings, Inc. $MATV

First Eagle Investment Management LLC raised its position in shares of Mativ Holdings, Inc. (NYSE:MATV) by 15.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,013,390 shares of the company’s stock after purchasing an additional 133,500 shares during the quarter. First Eagle Investment Management LLC owned 1.85% of Mativ worth $11,461,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of MATV. Vanguard Group Inc. lifted its position in shares of Mativ by 3.0% in the third quarter. Vanguard Group Inc. now owns 3,544,584 shares of the company’s stock valued at $40,089,000 after acquiring an additional 103,074 shares in the last quarter. American Century Companies Inc. raised its stake in Mativ by 13.3% during the 3rd quarter. American Century Companies Inc. now owns 1,916,201 shares of the company’s stock valued at $21,672,000 after purchasing an additional 225,370 shares during the period. JPMorgan Chase & Co. lifted its holdings in Mativ by 116.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,222,212 shares of the company’s stock worth $13,823,000 after purchasing an additional 658,748 shares in the last quarter. Millennium Management LLC boosted its stake in Mativ by 1,978.4% in the 1st quarter. Millennium Management LLC now owns 996,673 shares of the company’s stock worth $6,209,000 after purchasing an additional 948,720 shares during the period. Finally, Bridgeway Capital Management LLC boosted its stake in Mativ by 4.3% in the 2nd quarter. Bridgeway Capital Management LLC now owns 479,198 shares of the company’s stock worth $3,268,000 after purchasing an additional 19,605 shares during the period. 94.95% of the stock is currently owned by institutional investors.

Mativ Stock Down 5.8%

Shares of MATV opened at $10.06 on Wednesday. The company has a debt-to-equity ratio of 2.07, a current ratio of 2.24 and a quick ratio of 1.08. The stock has a market capitalization of $551.09 million, a price-to-earnings ratio of -1.61 and a beta of 0.80. Mativ Holdings, Inc. has a 1 year low of $4.34 and a 1 year high of $15.48. The business’s 50 day simple moving average is $12.70 and its 200-day simple moving average is $12.17.

Mativ (NYSE:MATV) last posted its earnings results on Wednesday, February 18th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.06. The firm had revenue of $463.10 million during the quarter, compared to analyst estimates of $469.55 million. Mativ had a negative net margin of 16.98% and a positive return on equity of 9.79%. As a group, equities 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 will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Friday, March 13th. Mativ’s dividend payout ratio is currently -6.39%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MATV. Weiss Ratings reissued a “sell (d)” rating on shares of Mativ in a report on Monday, December 29th. Wall Street Zen raised shares of Mativ from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Mativ has an average rating of “Hold” and an average target price 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.