Russell Investments Group Ltd. Sells 61,222 Shares of Mativ Holdings, Inc. $MATV

Russell Investments Group Ltd. reduced its holdings in shares of Mativ Holdings, Inc. (NYSE:MATV) by 22.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 207,879 shares of the company’s stock after selling 61,222 shares during the period. Russell Investments Group Ltd. owned about 0.38% of Mativ worth $1,295,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Allspring Global Investments Holdings LLC grew its position in Mativ by 5.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 4,131,328 shares of the company’s stock valued at $25,986,000 after acquiring an additional 217,691 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Mativ by 9.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 751,405 shares of the company’s stock worth $4,681,000 after purchasing an additional 64,265 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Mativ by 3.3% in the fourth quarter. Northern Trust Corp now owns 585,754 shares of the company’s stock worth $6,385,000 after purchasing an additional 18,962 shares during the last quarter. Bridgeway Capital Management LLC grew its holdings in shares of Mativ by 39.2% in the fourth quarter. Bridgeway Capital Management LLC now owns 541,432 shares of the company’s stock worth $5,902,000 after purchasing an additional 152,383 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. grew its holdings in shares of Mativ by 85.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 504,422 shares of the company’s stock worth $5,498,000 after purchasing an additional 233,125 shares during the last quarter. 94.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MATV. Zacks Research upgraded shares of Mativ to a “strong-buy” rating in a report on Monday, August 11th. Wall Street Zen upgraded shares of Mativ from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to data from MarketBeat.com, Mativ currently has a consensus rating of “Strong Buy” and a consensus price target of $10.00.

Mativ Stock Performance

Shares of MATV stock opened at $12.31 on Thursday. The stock has a fifty day moving average of $8.33 and a 200 day moving average of $6.92. Mativ Holdings, Inc. has a 52 week low of $4.34 and a 52 week high of $19.96. The firm has a market capitalization of $673.21 million, a price-to-earnings ratio of -1.47 and a beta of 0.73. The company has a quick ratio of 1.21, a current ratio of 2.37 and a debt-to-equity ratio of 2.65.

Mativ (NYSE:MATV) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.15. Mativ had a positive return on equity of 4.12% and a negative net margin of 23.09%.The company had revenue of $525.40 million during the quarter, compared to analyst estimates of $505.00 million. As a group, research analysts expect that Mativ Holdings, Inc. will post 1.15 earnings per share for the current year.

Mativ Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, August 29th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.40 dividend on an annualized basis and a yield of 3.2%. Mativ’s dividend payout ratio (DPR) is presently -4.79%.

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.