Mativ (NYSE:MATV) Posts Earnings Results, Beats Estimates By $0.06 EPS

Mativ (NYSE:MATV) issued its quarterly earnings data on Wednesday. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.06, FiscalAI reports. Mativ had a positive return on equity of 7.06% and a negative net margin of 22.03%.The company had revenue of $463.10 million for the quarter, compared to the consensus estimate of $469.55 million.

Mativ Stock Down 7.1%

MATV stock traded down $1.02 during midday trading on Thursday, hitting $13.42. The stock had a trading volume of 122,719 shares, compared to its average volume of 281,655. The company has a debt-to-equity ratio of 2.62, a current ratio of 2.14 and a quick ratio of 1.09. The firm has a market cap of $733.71 million, a price-to-earnings ratio of -1.68 and a beta of 0.82. Mativ has a 52-week low of $4.34 and a 52-week high of $15.48. The business has a 50-day moving average of $12.97 and a two-hundred day moving average of $12.02.

Mativ Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Friday, March 13th. Mativ’s dividend payout ratio (DPR) is presently -4.98%.

Institutional Trading of Mativ

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC raised its position in shares of Mativ by 1,978.4% in the first quarter. Millennium Management LLC now owns 996,673 shares of the company’s stock worth $6,209,000 after acquiring an additional 948,720 shares during the period. UBS Group AG grew its position in shares of Mativ by 144.9% in the third quarter. UBS Group AG now owns 688,273 shares of the company’s stock valued at $7,784,000 after purchasing an additional 407,275 shares during the period. Nomura Holdings Inc. acquired a new position in shares of Mativ during the 2nd quarter worth about $2,450,000. Zacks Investment Management acquired a new stake in Mativ in the 3rd quarter worth about $3,561,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Mativ by 376.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 350,575 shares of the company’s stock valued at $3,965,000 after acquiring an additional 277,021 shares during the last quarter. Institutional investors and hedge funds own 94.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MATV. Wall Street Zen upgraded shares of Mativ from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Weiss Ratings reiterated a “sell (d)” rating on shares of Mativ in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $10.00.

Mativ Company Profile

Mativ is a global supplier of specialty fiber-based materials and engineered solutions, established in April 2021 through the spin-off of Ahlstrom-Munksjö’s global filtration and engineered materials business. Trading on the New York Stock Exchange under the ticker MATV, the company focuses on designing and manufacturing high-performance products for a broad range of end markets, including life sciences, energy storage, industrial filtration, and consumer products.

Through its Advanced Solutions segment, Mativ produces innovative materials such as lithium-ion battery separators, specialty release liners, and pressure-sensitive adhesive tapes.