Price T Rowe Associates Inc. MD Boosts Holdings in Mativ Holdings, Inc. (NYSE:MATV)

Price T Rowe Associates Inc. MD raised its stake in shares of Mativ Holdings, Inc. (NYSE:MATV) by 23.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,763 shares of the company’s stock after purchasing an additional 4,083 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Mativ were worth $238,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Federated Hermes Inc. purchased a new position in shares of Mativ in the fourth quarter worth about $33,000. KBC Group NV lifted its stake in shares of Mativ by 93.2% in the fourth quarter. KBC Group NV now owns 4,787 shares of the company’s stock worth $52,000 after buying an additional 2,309 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Mativ in the fourth quarter worth about $122,000. AlphaQuest LLC lifted its stake in shares of Mativ by 20,544.8% in the fourth quarter. AlphaQuest LLC now owns 11,974 shares of the company’s stock worth $131,000 after buying an additional 11,916 shares in the last quarter. Finally, Guggenheim Capital LLC purchased a new position in shares of Mativ in the fourth quarter worth about $183,000. 94.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus raised shares of Mativ from a “hold” rating to a “buy” rating and decreased their price target for the stock from $15.50 to $10.00 in a research note on Monday, March 24th.

Mativ Stock Performance

NYSE:MATV opened at $6.06 on Friday. The company’s 50-day moving average price is $5.52 and its 200-day moving average price is $8.92. The company has a current ratio of 2.40, a quick ratio of 1.29 and a debt-to-equity ratio of 1.28. The company has a market cap of $330.11 million, a P/E ratio of -6.73, a P/E/G ratio of 1.08 and a beta of 0.61. Mativ Holdings, Inc. has a twelve month low of $4.34 and a twelve month high of $19.96.

Mativ (NYSE:MATV) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.03). Mativ had a positive return on equity of 3.86% and a negative net margin of 2.46%. The firm had revenue of $484.80 million for the quarter, compared to analyst estimates of $470.30 million. On average, sell-side analysts forecast that Mativ Holdings, Inc. will post 1.15 earnings per share for the current fiscal year.

Mativ Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, May 23rd will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 6.61%. The ex-dividend date of this dividend is Friday, May 23rd. Mativ’s payout ratio is currently -4.88%.

Mativ Company 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.