Mativ Holdings, Inc. $MATV Shares Sold by Bridgeway Capital Management LLC

Key Points

• Bridgeway Capital Management LLC reduced its stake in Mativ Holdings, Inc. by 15.1%, selling 81,839 shares and now owning 0.84% of the company, valued at approximately $2.86 million.
• Mativ has received upgraded ratings from several brokerages, with a consensus rating of Strong Buy and an average target price of $10.00.
• The company recently declared a quarterly dividend of $0.10 per share, which represents a 3.2% annualized yield, with the ex-dividend date set for August 29th.

Bridgeway Capital Management LLC decreased its position in shares of Mativ Holdings, Inc. (NYSE:MATV - Free Report) by 15.1% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 459,593 shares of the company's stock after selling 81,839 shares during the period. Bridgeway Capital Management LLC owned 0.84% of Mativ worth $2,863,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC lifted its stake in shares of Mativ by 119.7% during the first quarter. GAMMA Investing LLC now owns 4,462 shares of the company's stock valued at $28,000 after buying an additional 2,431 shares during the period. ProShare Advisors LLC boosted its holdings in shares of Mativ by 44.4% in the 4th quarter. ProShare Advisors LLC now owns 16,276 shares of the company's stock valued at $177,000 after purchasing an additional 5,007 shares during the last quarter. QRG Capital Management Inc. purchased a new stake in shares of Mativ during the 1st quarter valued at $64,000. Hsbc Holdings PLC grew its stake in shares of Mativ by 61.2% during the 1st quarter. Hsbc Holdings PLC now owns 38,828 shares of the company's stock valued at $242,000 after buying an additional 14,734 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Mativ by 24.3% during the 4th 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 buying an additional 18,531 shares during the last quarter. Hedge funds and other institutional investors own 94.95% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on MATV shares. Wall Street Zen raised Mativ from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Zacks Research raised Mativ to a "strong-buy" rating in a research report on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to MarketBeat, Mativ currently has an average rating of "Strong Buy" and an average price target of $10.00.

Mativ Trading Down 1.5%

Shares of Mativ stock traded down $0.18 during trading hours on Tuesday, hitting $12.25. The company's stock had a trading volume of 559,211 shares, compared to its average volume of 705,118. Mativ Holdings, Inc. has a 1-year low of $4.34 and a 1-year high of $19.96. The business has a fifty day moving average of $9.36 and a 200 day moving average of $7.14. The company has a market capitalization of $669.49 million, a PE ratio of -1.47 and a beta of 0.83. The company has a quick ratio of 1.21, a current ratio of 2.37 and a debt-to-equity ratio of 2.65.

Mativ (NYSE:MATV - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $505.00 million. As a group, equities analysts forecast that Mativ Holdings, Inc. will post 1.15 EPS for the current year.

Mativ Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, August 29th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Friday, August 29th. Mativ's dividend payout ratio (DPR) is presently -4.79%.

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.