Mativ (NYSE:MATV) Downgraded to “Buy” Rating by Wall Street Zen

Wall Street Zen lowered shares of Mativ (NYSE:MATV) from a strong-buy rating to a buy rating in a research note issued to investors on Sunday morning.

Separately, Weiss Ratings upgraded shares of Mativ from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce”.

Mativ Stock Down 0.1%

Shares of NYSE MATV opened at $8.72 on Friday. Mativ has a 12-month low of $6.17 and a 12-month high of $15.48. The firm’s 50-day simple moving average is $8.00 and its 200 day simple moving average is $9.59. The company has a quick ratio of 1.12, a current ratio of 2.26 and a debt-to-equity ratio of 2.22. The company has a market cap of $480.92 million, a price-to-earnings ratio of 6.51 and a beta of 0.87.

Mativ (NYSE:MATV) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.04. The firm had revenue of $479.60 million during the quarter, compared to analysts’ expectations of $486.90 million. Mativ had a net margin of 3.86% and a return on equity of 11.77%. On average, research analysts expect that Mativ will post 0.85 earnings per share for the current fiscal year.

Mativ Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 19th. Investors of record on Friday, May 29th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date was Friday, May 29th. Mativ’s dividend payout ratio is currently 29.85%.

Hedge Funds Weigh In On Mativ

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its position 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 valued at $286,000 after acquiring an additional 10,927 shares during the period. AQR Capital Management LLC increased its stake in 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 in the last quarter. Millennium Management LLC raised its holdings in 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 purchasing an additional 948,720 shares during the period. Empowered Funds LLC raised its holdings in Mativ by 6.0% in the first quarter. Empowered Funds LLC now owns 319,593 shares of the company’s stock worth $1,991,000 after purchasing an additional 18,161 shares during the period. Finally, Creative Planning bought a new position in shares of Mativ during the second quarter worth $159,000. Institutional investors own 94.95% of the company’s stock.

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.