Mativ Holdings, Inc. $MATV Stake Lifted by Hsbc Holdings PLC

Hsbc Holdings PLC increased its stake in shares of Mativ Holdings, Inc. (NYSE:MATV) by 61.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,828 shares of the company’s stock after buying an additional 14,734 shares during the quarter. Hsbc Holdings PLC owned about 0.07% of Mativ worth $242,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in MATV. D. E. Shaw & Co. Inc. grew its stake in Mativ by 85.9% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 504,422 shares of the company’s stock worth $5,498,000 after buying an additional 233,125 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Mativ by 5.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,131,328 shares of the company’s stock worth $25,986,000 after buying an additional 217,691 shares during the last quarter. Nuveen LLC bought a new position in Mativ during the 1st quarter worth $1,121,000. XTX Topco Ltd bought a new position in Mativ during the 1st quarter worth $1,073,000. Finally, Bridgeway Capital Management LLC boosted its position in Mativ by 39.2% during the 4th quarter. Bridgeway Capital Management LLC now owns 541,432 shares of the company’s stock worth $5,902,000 after acquiring an additional 152,383 shares during the period. 94.95% of the stock is currently owned by institutional investors.

Mativ Trading Down 1.1%

Shares of MATV stock opened at $12.05 on Friday. The stock has a 50-day simple moving average of $9.04 and a 200 day simple moving average of $7.06. The stock has a market capitalization of $658.77 million, a P/E ratio of -1.44 and a beta of 0.83. Mativ Holdings, Inc. has a fifty-two week low of $4.34 and a fifty-two week high of $19.96. 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 issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.15. Mativ had a negative net margin of 23.09% and a positive return on equity of 4.12%. The company had revenue of $525.40 million during the quarter, compared to the consensus estimate of $505.00 million. On average, sell-side analysts expect that Mativ Holdings, Inc. will post 1.15 earnings per share for the current fiscal year.

Mativ Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, August 29th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Friday, August 29th. Mativ’s dividend payout ratio is presently -4.79%.

Analyst Ratings Changes

A number of research analysts have issued reports on MATV shares. Zacks Research upgraded Mativ to a “strong-buy” rating in a research report on Monday, August 11th. Wall Street Zen upgraded Mativ from a “hold” rating to a “buy” rating in a research 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 MarketBeat.com, the company presently has a consensus rating of “Strong Buy” and a consensus target price of $10.00.

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.