Mativ Holdings, Inc. (NYSE:MATV) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC reduced its stake in Mativ Holdings, Inc. (NYSE:MATV) by 3.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 129,466 shares of the company’s stock after selling 4,307 shares during the period. Nuveen Asset Management LLC owned 0.24% of Mativ worth $1,411,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in MATV. American Century Companies Inc. grew its position in Mativ by 20.2% in the fourth quarter. American Century Companies Inc. now owns 1,507,418 shares of the company’s stock worth $16,431,000 after buying an additional 253,365 shares during the last quarter. Geode Capital Management LLC grew its position in Mativ by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 1,247,900 shares of the company’s stock worth $13,606,000 after buying an additional 4,386 shares during the last quarter. Royce & Associates LP grew its position in Mativ by 26.1% in the fourth quarter. Royce & Associates LP now owns 1,090,774 shares of the company’s stock worth $11,889,000 after buying an additional 226,090 shares during the last quarter. Invesco Ltd. grew its position in Mativ by 62.8% in the fourth quarter. Invesco Ltd. now owns 943,771 shares of the company’s stock worth $10,287,000 after buying an additional 364,117 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Mativ by 44.2% in the fourth quarter. Bank of New York Mellon Corp now owns 613,444 shares of the company’s stock worth $6,687,000 after buying an additional 187,970 shares during the last quarter. 94.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Stifel Nicolaus upgraded 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 report on Monday, March 24th.

Mativ Trading Up 5.8%

Mativ stock opened at $6.53 on Wednesday. Mativ Holdings, Inc. has a 1 year low of $4.34 and a 1 year high of $19.96. The firm’s 50 day moving average price is $5.43 and its two-hundred day moving average price is $8.19. 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 firm has a market cap of $356.00 million, a price-to-earnings ratio of -7.26, a price-to-earnings-growth ratio of 1.08 and a beta of 0.61.

Mativ (NYSE:MATV) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.14) earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $470.30 million. On average, research analysts predict that Mativ Holdings, Inc. will post 1.15 EPS 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 dividend of $0.10 per share. The ex-dividend date is Friday, May 23rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.13%. Mativ’s dividend payout ratio is currently -4.88%.

Insider Activity

In other news, CEO Shruti Singhal purchased 40,000 shares of the business’s stock in a transaction dated Thursday, May 29th. The shares were acquired at an average price of $5.76 per share, for a total transaction of $230,400.00. Following the completion of the acquisition, the chief executive officer now directly owns 56,533 shares of the company’s stock, valued at $325,630.08. The trade was a 241.94% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kimberly E. Ritrievi purchased 10,000 shares of the business’s stock in a transaction dated Thursday, May 29th. The shares were purchased at an average price of $5.88 per share, for a total transaction of $58,800.00. Following the acquisition, the director now directly owns 30,640 shares of the company’s stock, valued at $180,163.20. This trade represents a 48.45% 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.

About Mativ

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.