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

Allspring Global Investments Holdings LLC raised its holdings in Mativ Holdings, Inc. (NYSE:MATV) by 3.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,089,594 shares of the company’s stock after purchasing an additional 138,938 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.07% of Mativ worth $35,661,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. raised its stake in shares of Mativ by 1,082.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,364 shares of the company’s stock valued at $29,000 after buying an additional 2,164 shares during the last quarter. Advisory Services Network LLC purchased a new stake in shares of Mativ in the third quarter worth about $30,000. California State Teachers Retirement System grew its holdings in Mativ by 167.2% during the fourth quarter. California State Teachers Retirement System now owns 3,327 shares of the company’s stock worth $40,000 after acquiring an additional 2,082 shares during the period. Cullen Frost Bankers Inc. grew its holdings in Mativ by 26.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 3,961 shares of the company’s stock worth $48,000 after acquiring an additional 818 shares during the period. Finally, CANADA LIFE ASSURANCE Co purchased a new position in Mativ during the fourth quarter valued at approximately $77,000. 94.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Weiss Ratings raised Mativ from a “sell (d-)” rating to a “sell (d+)” rating in a report on Monday, May 11th. Wall Street Zen cut shares of Mativ from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 16th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce”.

Mativ Trading Up 0.2%

MATV stock opened at $8.04 on Monday. Mativ Holdings, Inc. has a 52-week low of $6.17 and a 52-week high of $15.48. The company has a quick ratio of 1.12, a current ratio of 2.26 and a debt-to-equity ratio of 2.22. The firm has a market cap of $442.89 million, a P/E ratio of 6.00 and a beta of 0.89. The company’s 50-day simple moving average is $8.05 and its 200-day simple moving average is $9.88.

Mativ (NYSE:MATV) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.04. The firm had revenue of $479.60 million during the quarter, compared to analyst estimates of $486.90 million. Mativ had a return on equity of 11.77% and a net margin of 3.86%. As a group, equities analysts forecast that Mativ Holdings, Inc. will post 0.85 EPS for the current fiscal year.

Mativ Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 19th. Stockholders of record on Friday, May 29th were given a $0.10 dividend. The ex-dividend date was Friday, May 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.0%. Mativ’s payout ratio is 29.85%.

Mativ Company 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.