Allspring Global Investments Holdings LLC Has $25.99 Million Stake in Mativ Holdings, Inc. (NYSE:MATV)

Allspring Global Investments Holdings LLC grew its position in shares of Mativ Holdings, Inc. (NYSE:MATV - Free Report) by 5.6% in the 1st quarter, according to the company in its most recent Form 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 about 7.58% of Mativ worth $25,986,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. QRG Capital Management Inc. acquired a new stake in Mativ in the first quarter worth about $64,000. GAMMA Investing LLC lifted its holdings in Mativ by 119.7% in the first quarter. GAMMA Investing LLC now owns 4,462 shares of the company's stock worth $28,000 after purchasing an additional 2,431 shares during the period. Mackenzie Financial Corp acquired a new stake in Mativ in the fourth quarter worth about $469,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Mativ by 24.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 94,747 shares of the company's stock worth $1,033,000 after purchasing an additional 18,531 shares during the period. Finally, Squarepoint Ops LLC lifted its holdings in Mativ by 477.1% in the fourth quarter. Squarepoint Ops LLC now owns 68,542 shares of the company's stock worth $747,000 after purchasing an additional 56,665 shares during the period. Institutional investors and hedge funds own 94.95% of the company's stock.

Mativ Price Performance

Mativ stock traded up $0.19 during mid-day trading on Friday, hitting $7.58. The company's stock had a trading volume of 210,355 shares, compared to its average volume of 627,920. The stock has a market capitalization of $413.26 million, a P/E ratio of -0.92, a P/E/G ratio of 2.26 and a beta of 0.72. Mativ Holdings, Inc. has a twelve month low of $4.34 and a twelve month high of $19.96. The stock's fifty day moving average price is $6.17 and its two-hundred day moving average price is $7.25. The company has a quick ratio of 1.18, a current ratio of 2.38 and a debt-to-equity ratio of 2.65.

Mativ (NYSE:MATV - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.03). The company had revenue of $484.80 million for the quarter, compared to the consensus estimate of $470.30 million. Mativ had a positive return on equity of 3.53% and a negative net margin of 22.70%. Research analysts forecast that Mativ Holdings, Inc. will post 1.15 earnings per share for the current year.

Mativ Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, May 23rd were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $0.40 dividend on an annualized basis and a yield of 5.28%. Mativ's dividend payout ratio is currently -4.88%.

Wall Street Analyst Weigh In

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

Insider Transactions at Mativ

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

Mativ Company 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.