ProShare Advisors LLC Boosts Stock Holdings in Mativ Holdings, Inc. (NYSE:MATV)

ProShare Advisors LLC raised its holdings in shares of Mativ Holdings, Inc. (NYSE:MATV) by 44.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 16,276 shares of the company’s stock after purchasing an additional 5,007 shares during the period. ProShare Advisors LLC’s holdings in Mativ were worth $177,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in Mativ by 44.5% during the 4th quarter. JPMorgan Chase & Co. now owns 284,348 shares of the company’s stock valued at $3,099,000 after purchasing an additional 87,526 shares during the period. Empowered Funds LLC increased its position in Mativ by 34.5% during the 4th quarter. Empowered Funds LLC now owns 301,432 shares of the company’s stock valued at $3,286,000 after purchasing an additional 77,383 shares during the period. New York State Teachers Retirement System increased its position in Mativ by 7.0% during the 4th quarter. New York State Teachers Retirement System now owns 100,039 shares of the company’s stock valued at $1,090,000 after purchasing an additional 6,518 shares during the period. Sei Investments Co. boosted its holdings in shares of Mativ by 174.2% in the 4th quarter. Sei Investments Co. now owns 286,992 shares of the company’s stock valued at $3,128,000 after buying an additional 182,341 shares in the last quarter. Finally, Barclays PLC boosted its holdings in shares of Mativ by 6.6% in the 4th quarter. Barclays PLC now owns 109,630 shares of the company’s stock valued at $1,195,000 after buying an additional 6,794 shares in the last quarter. Hedge funds and other institutional investors own 94.95% of the company’s stock.

Mativ Stock Down 0.7%

NYSE:MATV opened at $5.72 on Monday. Mativ Holdings, Inc. has a fifty-two week low of $4.34 and a fifty-two week high of $19.96. The stock has a market capitalization of $311.84 million, a P/E ratio of -6.36, a P/E/G ratio of 1.08 and a beta of 0.61. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.29 and a current ratio of 2.40. The company’s 50-day simple moving average is $5.44 and its 200-day simple moving average is $8.24.

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

Mativ Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, May 23rd will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.99%. The ex-dividend date is Friday, May 23rd. Mativ’s dividend payout ratio is currently -4.88%.

Insider Buying and Selling

In related news, Director Kimberly E. Ritrievi bought 10,000 shares of the stock in a transaction that occurred on Thursday, May 29th. The stock was bought at an average cost of $5.88 per share, for a total transaction of $58,800.00. Following the purchase, the director now directly owns 30,640 shares of the company’s stock, valued at approximately $180,163.20. This trade represents a 48.45% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Shruti Singhal bought 40,000 shares of the stock in a transaction that occurred on Thursday, May 29th. The stock was bought at an average price of $5.76 per share, with a total value of $230,400.00. Following the completion of the purchase, the chief executive officer now directly owns 56,533 shares in the company, valued at $325,630.08. This represents a 241.94% increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.01% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, Stifel Nicolaus upgraded shares of Mativ from a “hold” rating to a “buy” rating and lowered their price target for the company from $15.50 to $10.00 in a report on Monday, March 24th.

Mativ 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.