Mativ Holdings, Inc. $MATV Stake Reduced by Invenomic Capital Management LP

Invenomic Capital Management LP cut its stake in Mativ Holdings, Inc. (NYSE:MATV) by 20.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,688,881 shares of the company’s stock after selling 431,095 shares during the period. Invenomic Capital Management LP’s holdings in Mativ were worth $19,101,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Royal Bank of Canada increased its holdings in shares of Mativ by 31.3% in the 1st quarter. Royal Bank of Canada now owns 45,795 shares of the company’s stock worth $286,000 after acquiring an additional 10,927 shares during the period. AQR Capital Management LLC increased its stake in shares of Mativ by 119.8% in the first quarter. AQR Capital Management LLC now owns 167,517 shares of the company’s stock valued at $1,044,000 after purchasing an additional 91,301 shares during the period. Millennium Management LLC raised its holdings in shares of Mativ by 1,978.4% during the first quarter. Millennium Management LLC now owns 996,673 shares of the company’s stock valued at $6,209,000 after buying an additional 948,720 shares during the last quarter. Empowered Funds LLC boosted its position in shares of Mativ by 6.0% during the first quarter. Empowered Funds LLC now owns 319,593 shares of the company’s stock worth $1,991,000 after buying an additional 18,161 shares during the period. Finally, Savant Capital LLC bought a new position in Mativ in the 2nd quarter worth approximately $118,000. Institutional investors and hedge funds own 94.95% of the company’s stock.

Mativ Trading Down 3.3%

Shares of MATV stock opened at $8.83 on Monday. The company has a quick ratio of 1.08, a current ratio of 2.24 and a debt-to-equity ratio of 2.07. The stock has a 50-day simple moving average of $12.24 and a 200 day simple moving average of $12.01. Mativ Holdings, Inc. has a fifty-two week low of $4.34 and a fifty-two week high of $15.48. The stock has a market capitalization of $483.71 million, a P/E ratio of -1.41 and a beta of 0.80.

Mativ (NYSE:MATV) last released its earnings results on Wednesday, February 18th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.06. Mativ had a negative net margin of 16.98% and a positive return on equity of 9.79%. The business had revenue of $463.10 million for the quarter, compared to the consensus estimate of $469.55 million. On average, sell-side analysts expect that Mativ Holdings, Inc. will post 1.15 earnings per share for the current fiscal year.

Mativ Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.40 annualized dividend and a dividend yield of 4.5%. Mativ’s dividend payout ratio is currently -6.39%.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Mativ in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price 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.