Nisa Investment Advisors LLC trimmed its position in Mativ Holdings, Inc. (NYSE:MATV – Free Report) by 59.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,032 shares of the company’s stock after selling 13,273 shares during the period. Nisa Investment Advisors LLC’s holdings in Mativ were worth $56,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in shares of Mativ in the fourth quarter valued at about $210,000. Semanteon Capital Management LP bought a new position in Mativ in the fourth quarter valued at approximately $572,000. Quantbot Technologies LP acquired a new position in shares of Mativ during the 4th quarter worth approximately $122,000. American Century Companies Inc. raised its stake in shares of Mativ by 20.2% during the 4th quarter. American Century Companies Inc. now owns 1,507,418 shares of the company’s stock worth $16,431,000 after purchasing an additional 253,365 shares in the last quarter. Finally, 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 during the last quarter. 94.95% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Separately, Stifel Nicolaus upgraded shares of Mativ from a “hold” rating to a “buy” rating and lowered their target price for the stock from $15.50 to $10.00 in a report on Monday, March 24th.
Mativ Stock Down 0.8%
Shares of MATV stock opened at $7.25 on Friday. Mativ Holdings, Inc. has a 52-week low of $4.34 and a 52-week high of $19.96. The stock has a market cap of $395.27 million, a price-to-earnings ratio of -0.88, a PEG ratio of 2.18 and a beta of 0.72. The firm’s 50-day moving average is $6.59 and its 200-day moving average is $7.01. The company has a debt-to-equity ratio of 2.65, a quick ratio of 1.18 and a current ratio of 2.38.
Mativ (NYSE:MATV – Get Free Report) last announced 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 positive return on equity of 3.53% and a negative net margin of 22.70%. The business had revenue of $484.80 million for the quarter, compared to analyst estimates of $470.30 million. Sell-side analysts predict that Mativ Holdings, Inc. will post 1.15 EPS for the current year.
Mativ Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, May 23rd were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 5.52%. The ex-dividend date of this dividend was Friday, May 23rd. Mativ’s dividend payout ratio is -4.88%.
Insider Buying and Selling at Mativ
In related news, CEO Shruti Singhal acquired 40,000 shares of the company’s stock in a transaction dated Thursday, May 29th. The shares were bought at an average cost of $5.76 per share, with a total value of $230,400.00. Following the completion of the transaction, the chief executive officer directly owned 56,533 shares of the company’s stock, valued at $325,630.08. This trade represents a 241.94% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kimberly E. Ritrievi bought 10,000 shares of Mativ stock in a transaction that occurred on Thursday, May 29th. The shares were bought at an average cost of $5.88 per share, with a total value of $58,800.00. Following the acquisition, the director directly owned 30,640 shares in the company, valued at $180,163.20. This trade represents a 48.45% increase in their position. The disclosure for this purchase can be found here. Company insiders own 2.01% of the company’s stock.
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.
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