Bank of New York Mellon Corp Buys New Shares in Mativ Holdings, Inc. $MATV

Key Points

• Bank of New York Mellon initiated a position in Mativ Holdings by purchasing 494,884 shares valued at approximately $3.75 million, representing 0.90% of the company. Institutional investors and hedge funds collectively own 94.95% of Mativ.
• Mativ reported quarterly EPS of $0.50, exceeding the $0.28 consensus estimate, while revenue of $531.8 million also surpassed expectations. Analysts currently maintain an average “Hold” rating.
• Mativ declared a quarterly dividend of $0.10 per share, or $0.40 annually, implying a 3.2% yield and a 25.32% payout ratio.

Bank of New York Mellon Corp bought a new position in shares of Mativ Holdings, Inc. (NYSE:MATV - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 494,884 shares of the company's stock, valued at approximately $3,746,000. Bank of New York Mellon Corp owned 0.90% of Mativ at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its holdings in Mativ by 3.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,089,594 shares of the company's stock valued at $35,661,000 after buying an additional 138,938 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Mativ by 5.5% during the 4th quarter. Vanguard Group Inc. now owns 3,738,809 shares of the company's stock worth $45,427,000 after acquiring an additional 194,225 shares during the period. Dimensional Fund Advisors LP grew its holdings in Mativ by 6.8% in the first quarter. Dimensional Fund Advisors LP now owns 2,317,550 shares of the company's stock valued at $20,162,000 after purchasing an additional 147,577 shares during the period. Charles Schwab Investment Management Inc. increased its position in Mativ by 11.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,787,617 shares of the company's stock worth $21,720,000 after purchasing an additional 188,677 shares during the last quarter. Finally, Invenomic Capital Management LP increased its position in Mativ by 1.8% during the fourth quarter. Invenomic Capital Management LP now owns 1,719,063 shares of the company's stock worth $20,887,000 after purchasing an additional 30,182 shares during the last quarter. 94.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on MATV shares. 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 report on Monday, August 10th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Mativ presently has an average rating of "Hold".

Mativ Stock Performance

Shares of NYSE:MATV opened at $12.65 on Monday. The business's 50-day simple moving average is $9.93 and its 200 day simple moving average is $9.35. The company has a market cap of $697.27 million, a P/E ratio of 8.01 and a beta of 0.93. 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 Holdings, Inc. has a one year low of $7.07 and a one year high of $15.48.

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. The company had revenue of $531.80 million during the quarter, compared to the consensus estimate of $508.50 million. Mativ had a net margin of 4.50% and a return on equity of 13.53%. On average, sell-side analysts forecast that Mativ Holdings, Inc. will post 0.97 earnings per share for the current fiscal year.

Mativ Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, August 28th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Friday, August 28th. Mativ's dividend payout ratio is presently 25.32%.

Mativ Company Profile

Mativ is a global supplier of specialty fiber-based materials and engineered solutions, established in April 2021 through the spin-off of Ahlstrom-Munksjö’s global filtration and engineered materials business. Trading on the New York Stock Exchange under the ticker MATV, the company focuses on designing and manufacturing high-performance products for a broad range of end markets, including life sciences, energy storage, industrial filtration, and consumer products.

Through its Advanced Solutions segment, Mativ produces innovative materials such as lithium-ion battery separators, specialty release liners, and pressure-sensitive adhesive tapes.

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