Mativ (NYSE:MATV) Shares Gap Up on Better-Than-Expected Earnings

Mativ Holdings, Inc. (NYSE:MATV) gapped up prior to trading on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $9.57, but opened at $10.74. Mativ shares last traded at $11.1370, with a volume of 117,474 shares trading hands.

The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.28 by $0.22. Mativ had a net margin of 3.86% and a return on equity of 11.77%. The business had revenue of $531.80 million during the quarter, compared to the consensus estimate of $508.50 million.

Mativ Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, August 28th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, August 28th. This represents a $0.40 dividend on an annualized basis and a yield of 3.5%. Mativ’s payout ratio is currently 29.85%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Weiss Ratings raised Mativ from a “sell (d-)” rating to a “sell (d+)” rating in a report on Monday, May 11th. Wall Street Zen downgraded Mativ from a “strong-buy” rating to a “buy” rating in a report on Sunday. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

Hedge Funds Weigh In On Mativ

Several institutional investors and hedge funds have recently modified their holdings of MATV. Cullen Frost Bankers Inc. raised its position in shares of Mativ by 26.0% in the fourth quarter. Cullen Frost Bankers Inc. now owns 3,961 shares of the company’s stock valued at $48,000 after buying an additional 818 shares during the last quarter. Raymond James Financial Inc. boosted its position in Mativ by 3.7% during the third quarter. Raymond James Financial Inc. now owns 26,734 shares of the company’s stock worth $302,000 after acquiring an additional 951 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Mativ by 5.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,608 shares of the company’s stock valued at $141,000 after acquiring an additional 976 shares in the last quarter. Gabelli Funds LLC grew its stake in Mativ by 2.9% during the 3rd quarter. Gabelli Funds LLC now owns 35,200 shares of the company’s stock valued at $398,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Mativ by 0.3% in the 1st quarter. Bank of New York Mellon Corp now owns 491,368 shares of the company’s stock valued at $4,275,000 after acquiring an additional 1,311 shares during the last quarter. Hedge funds and other institutional investors own 94.95% of the company’s stock.

Mativ Stock Performance

The company has a current ratio of 2.26, a quick ratio of 1.12 and a debt-to-equity ratio of 2.22. The stock’s fifty day simple moving average is $8.03 and its 200 day simple moving average is $9.51. The company has a market cap of $621.06 million, a price-to-earnings ratio of 8.38 and a beta of 0.87.

About Mativ

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.