Allspring Global Investments Holdings LLC Has $29.61 Million Stock Holdings in Mativ Holdings, Inc. $MATV

Key Points

• Allspring Global Investments Holdings LLC increased its stake in Mativ Holdings, Inc. ($MATV) by 1.5%, now owning approximately 4.2 million shares valued at $29.61 million.
• Despite mixed analyst ratings, with one upgrade to a "buy" and another downgrade to "hold", the consensus rating for Mativ is currently "Hold" with an average price target of $10.00.
• Mativ recently declared a quarterly dividend of $0.10 per share, representing a 3.6% dividend yield, despite the company having a negative dividend payout ratio.

Allspring Global Investments Holdings LLC grew its position in Mativ Holdings, Inc. (NYSE:MATV - Free Report) by 1.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,194,604 shares of the company's stock after purchasing an additional 63,276 shares during the period. Allspring Global Investments Holdings LLC owned about 7.69% of Mativ worth $29,614,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of MATV. GAMMA Investing LLC raised its holdings in shares of Mativ by 119.7% during the first quarter. GAMMA Investing LLC now owns 4,462 shares of the company's stock worth $28,000 after acquiring an additional 2,431 shares during the period. US Bancorp DE increased its stake in Mativ by 204.2% in the 1st quarter. US Bancorp DE now owns 5,677 shares of the company's stock valued at $35,000 after buying an additional 3,811 shares during the last quarter. CWM LLC increased its stake in Mativ by 707.7% in the 1st quarter. CWM LLC now owns 4,701 shares of the company's stock valued at $29,000 after buying an additional 4,119 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in Mativ by 186.1% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 9,448 shares of the company's stock valued at $64,000 after buying an additional 6,146 shares during the last quarter. Finally, AlphaQuest LLC increased its stake in Mativ by 52.7% in the 1st quarter. AlphaQuest LLC now owns 18,279 shares of the company's stock valued at $114,000 after buying an additional 6,305 shares during the last quarter. 94.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on MATV shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Mativ in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of Mativ from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, Zacks Research lowered shares of Mativ from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, October 7th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $10.00.

Mativ Stock Performance

Shares of MATV opened at $11.10 on Thursday. The firm has a 50-day moving average of $11.56 and a 200-day moving average of $8.02. Mativ Holdings, Inc. has a one year low of $4.34 and a one year high of $17.47. The company has a market cap of $606.67 million, a PE ratio of -1.33 and a beta of 0.83. The company has a debt-to-equity ratio of 2.65, a current ratio of 2.37 and a quick ratio of 1.21.

Mativ (NYSE:MATV - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.18 by $0.15. Mativ had a negative net margin of 23.09% and a positive return on equity of 4.12%. The company had revenue of $525.40 million during the quarter, compared to the consensus estimate of $505.00 million. As a group, equities analysts forecast that Mativ Holdings, Inc. will post 1.15 earnings per share for the current year.

Mativ Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, August 29th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Friday, August 29th. Mativ's dividend payout ratio (DPR) is -4.79%.

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.

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