Allspring Global Investments Holdings LLC Buys 217,691 Shares of Mativ Holdings, Inc. (NYSE:MATV)

Allspring Global Investments Holdings LLC lifted its position in shares of Mativ Holdings, Inc. (NYSE:MATV - Free Report) by 5.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 4,131,328 shares of the company's stock after acquiring an additional 217,691 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 7.58% of Mativ worth $25,986,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MATV. American Century Companies Inc. lifted its stake in Mativ by 20.2% during the fourth quarter. American Century Companies Inc. now owns 1,507,418 shares of the company's stock worth $16,431,000 after purchasing an additional 253,365 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Mativ by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 1,247,900 shares of the company's stock worth $13,606,000 after purchasing an additional 4,386 shares during the period. Royce & Associates LP boosted its position in Mativ by 26.1% during the 4th quarter. Royce & Associates LP now owns 1,090,774 shares of the company's stock valued at $11,889,000 after acquiring an additional 226,090 shares in the last quarter. Invesco Ltd. lifted its position in Mativ by 62.8% during the fourth quarter. Invesco Ltd. now owns 943,771 shares of the company's stock valued at $10,287,000 after buying an additional 364,117 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Mativ by 44.2% during the fourth quarter. Bank of New York Mellon Corp now owns 613,444 shares of the company's stock worth $6,687,000 after acquiring an additional 187,970 shares in the last quarter. 94.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Mativ

In other Mativ news, Director Kimberly E. Ritrievi bought 10,000 shares of the firm's stock in a transaction dated Thursday, May 29th. The shares were purchased at an average cost of $5.88 per share, for a total transaction of $58,800.00. Following the transaction, the director owned 30,640 shares of the company's stock, valued at $180,163.20. This represents a 48.45% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Shruti Singhal purchased 40,000 shares of the stock in a transaction that occurred on Thursday, May 29th. The stock was acquired at an average cost of $5.76 per share, with a total value of $230,400.00. Following the acquisition, the chief executive officer owned 56,533 shares in the company, valued at $325,630.08. The trade was a 241.94% increase in their position. The disclosure for this purchase can be found here. 2.01% of the stock is currently owned by insiders.

Mativ Stock Performance

Shares of NYSE:MATV traded down $0.02 during midday trading on Thursday, reaching $7.38. 68,212 shares of the company's stock traded hands, compared to its average volume of 623,592. The company has a debt-to-equity ratio of 2.65, a quick ratio of 1.18 and a current ratio of 2.38. Mativ Holdings, Inc. has a one year low of $4.34 and a one year high of $19.96. The company has a market cap of $402.09 million, a price-to-earnings ratio of -0.90, a P/E/G ratio of 2.10 and a beta of 0.72. The stock has a 50 day moving average of $6.07 and a 200 day moving average of $7.34.

Mativ (NYSE:MATV - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.03). The firm had revenue of $484.80 million during the quarter, compared to analysts' expectations of $470.30 million. Mativ had a positive return on equity of 3.53% and a negative net margin of 22.70%. As a group, equities research analysts anticipate that Mativ Holdings, Inc. will post 1.15 EPS for the current fiscal year.

Mativ Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, May 23rd were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 5.42%. The ex-dividend date of this dividend was Friday, May 23rd. Mativ's payout ratio is currently -4.88%.

About Mativ

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.