Bank of America Corp DE Acquires 506,064 Shares of Mativ Holdings, Inc. $MATV

Key Points

• Bank of America acquired 506,064 shares of Mativ Holdings in the second quarter, valued at approximately $3.83 million and representing about 0.92% of the company. Other institutional investors also initiated positions, bringing total institutional ownership to 94.95%.
• Mativ reported quarterly EPS of $0.50, exceeding the $0.28 consensus estimate, while revenue reached $531.8 million versus expectations of $508.5 million. Analysts expect full-year EPS of approximately $0.97.
• Mativ declared a quarterly dividend of $0.10, or $0.40 annualized, yielding approximately 3.4%. The stock was recently priced at $11.79, and analysts’ consensus rating remained “Hold.”

Bank of America Corp DE acquired a new stake in Mativ Holdings, Inc. (NYSE:MATV - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 506,064 shares of the company's stock, valued at approximately $3,831,000. Bank of America Corp DE owned approximately 0.92% of Mativ at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in MATV. Man Group plc bought a new stake in shares of Mativ in the 2nd quarter valued at about $1,539,000. PDT Partners LLC bought a new position in shares of Mativ during the second quarter valued at approximately $1,530,000. Canada Pension Plan Investment Board purchased a new position in Mativ during the second quarter valued at approximately $447,000. Legal & General Group Plc purchased a new position in Mativ during the second quarter valued at approximately $86,000. Finally, The Manufacturers Life Insurance Company bought a new position in Mativ in the second quarter worth approximately $113,000. 94.95% of the stock is owned by hedge funds and other institutional investors.

Mativ Price Performance

Shares of MATV opened at $11.79 on Wednesday. The business's 50-day moving average is $11.44 and its two-hundred day moving average is $9.50. The company has a market capitalization of $650.03 million, a P/E ratio of 7.46 and a beta of 0.93. Mativ Holdings, Inc. has a fifty-two week low of $7.07 and a fifty-two week high of $15.48. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.95 and a current ratio of 1.98.

Mativ (NYSE:MATV - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.22. Mativ had a return on equity of 13.53% and a net margin of 4.50%.The business had revenue of $531.80 million during the quarter, compared to analysts' expectations of $508.50 million. Research analysts predict that Mativ Holdings, Inc. will post 0.97 earnings per share for the current year.

Mativ Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, August 28th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, August 28th. This represents a $0.40 dividend on an annualized basis and a yield of 3.4%. Mativ's payout ratio is presently 25.32%.

Analysts Set New Price Targets

MATV has been the topic of a number of recent analyst reports. Weiss Ratings upgraded shares of Mativ from a "sell (d+)" rating to a "hold (c)" rating in a report on Friday, August 21st. Wall Street Zen upgraded Mativ from a "buy" rating to a "strong-buy" rating in a research note on Monday, August 10th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of "Hold".

Mativ Profile

Mativ Holdings, Inc is a global specialty materials company that develops and manufactures engineered solutions for industrial, healthcare, consumer, and other end markets. Its products are designed to provide properties such as filtration, protection, separation, absorbency, strength, and surface performance.

The company's offerings include filtration media, engineered papers, nonwoven materials, airlaid materials, release liners, protective materials, and specialty substrates. These products are used in applications such as air and liquid filtration, medical and healthcare products, food and beverage packaging, personal care, construction, and other technical and consumer products.

Mativ was formed in 2022 through the combination of Neenah, Inc and Schweitzer-Mauduit International, Inc The company serves customers through manufacturing and commercial operations in North America, Europe, Asia, and other international markets.

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