Mativ Holdings, Inc. (NYSE:MATV) Shares Sold by Bank of America Corp DE

Bank of America Corp DE cut its holdings in Mativ Holdings, Inc. (NYSE:MATV - Free Report) by 14.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 410,233 shares of the company's stock after selling 67,959 shares during the quarter. Bank of America Corp DE owned approximately 0.75% of Mativ worth $4,472,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of MATV. American Century Companies Inc. lifted its stake in Mativ by 20.2% during the 4th quarter. American Century Companies Inc. now owns 1,507,418 shares of the company's stock valued at $16,431,000 after acquiring an additional 253,365 shares during the period. Geode Capital Management LLC raised its stake in Mativ by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 1,247,900 shares of the company's stock worth $13,606,000 after acquiring an additional 4,386 shares during the period. Royce & Associates LP grew its holdings 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 buying an additional 226,090 shares in the last quarter. Invesco Ltd. grew its holdings in Mativ by 62.8% during the 4th 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 in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Mativ by 44.2% during the 4th quarter. Bank of New York Mellon Corp now owns 613,444 shares of the company's stock valued at $6,687,000 after buying an additional 187,970 shares in the last quarter. 94.95% of the stock is owned by hedge funds and other 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 target price for the company from $15.50 to $10.00 in a report on Monday, March 24th.

Insiders Place Their Bets

In other news, Director Kimberly E. Ritrievi bought 10,000 shares of the company's stock in a transaction that occurred on Thursday, May 29th. The shares were purchased at an average price of $5.88 per share, for a total transaction of $58,800.00. Following the completion of the transaction, the director now directly owns 30,640 shares in the company, valued at approximately $180,163.20. This represents a 48.45% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Shruti Singhal bought 40,000 shares of the company's stock in a transaction that occurred on Thursday, May 29th. The stock was purchased at an average price of $5.76 per share, for a total transaction of $230,400.00. Following the transaction, the chief executive officer now owns 56,533 shares of the company's stock, valued at $325,630.08. The trade was a 241.94% increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.01% of the stock is currently owned by corporate insiders.

Mativ Trading Up 7.7%

NYSE MATV traded up $0.44 on Monday, hitting $6.16. 893,671 shares of the stock were exchanged, compared to its average volume of 601,990. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.29 and a current ratio of 2.40. The stock has a fifty day moving average price of $5.43 and a two-hundred day moving average price of $8.20. The firm has a market capitalization of $335.94 million, a P/E ratio of -6.85, a P/E/G ratio of 1.08 and a beta of 0.61. Mativ Holdings, Inc. has a 52-week low of $4.34 and a 52-week high of $19.96.

Mativ (NYSE:MATV - Get Free Report) last released its earnings results 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 business 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 3.86% and a negative net margin of 2.46%. Research analysts forecast that Mativ Holdings, Inc. will post 1.15 EPS for the current fiscal year.

Mativ Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, May 23rd will be issued a $0.10 dividend. The ex-dividend date is Friday, May 23rd. This represents a $0.40 annualized dividend and a dividend yield of 6.49%. 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.