Bragg Financial Advisors Inc Reduces Position in Mativ Holdings, Inc. (NYSE:MATV)

Bragg Financial Advisors Inc lessened its holdings in shares of Mativ Holdings, Inc. (NYSE:MATV - Free Report) by 48.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 100,618 shares of the company's stock after selling 92,762 shares during the quarter. Bragg Financial Advisors Inc owned about 0.19% of Mativ worth $1,097,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Federated Hermes Inc. purchased a new stake in shares of Mativ in the 4th quarter valued at about $33,000. KBC Group NV raised its stake in Mativ by 93.2% in the fourth quarter. KBC Group NV now owns 4,787 shares of the company's stock valued at $52,000 after purchasing an additional 2,309 shares in the last quarter. Quantbot Technologies LP purchased a new position in Mativ in the 4th quarter worth approximately $122,000. FMR LLC increased its holdings in shares of Mativ by 113.3% in the 3rd quarter. FMR LLC now owns 7,716 shares of the company's stock worth $131,000 after buying an additional 4,098 shares during the last quarter. Finally, AlphaQuest LLC raised its position in shares of Mativ by 20,544.8% during the 4th quarter. AlphaQuest LLC now owns 11,974 shares of the company's stock valued at $131,000 after buying an additional 11,916 shares in the last quarter. Institutional investors own 94.95% of the company's stock.

Mativ Price Performance

MATV traded down $0.03 during midday trading on Friday, hitting $4.59. The stock had a trading volume of 591,954 shares, compared to its average volume of 571,949. The company has a market cap of $250.02 million, a P/E ratio of -5.10, a price-to-earnings-growth ratio of 1.08 and a beta of 0.68. Mativ Holdings, Inc. has a 1 year low of $4.34 and a 1 year high of $19.96. The business has a fifty day moving average of $6.45 and a 200 day moving average of $10.50. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.29 and a current ratio of 2.40.

Mativ (NYSE:MATV - Get Free Report) last issued its earnings results on Wednesday, February 19th. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.22 by ($0.17). Mativ had a positive return on equity of 3.86% and a negative net margin of 2.46%. The business had revenue of $458.60 million during the quarter, compared to analysts' expectations of $472.70 million. As a group, equities analysts forecast that Mativ Holdings, Inc. will post 1.15 earnings per share for the current fiscal year.

Mativ Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 8.72%. The ex-dividend date was Friday, March 14th. Mativ's dividend payout ratio is -44.44%.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus upgraded shares of Mativ from a "hold" rating to a "buy" rating and cut their target price for the stock from $15.50 to $10.00 in a research report on Monday, March 24th.

Mativ 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.