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

Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in Mativ by 119.7% in the first quarter. GAMMA Investing LLC now owns 4,462 shares of the company's stock valued at $28,000 after purchasing an additional 2,431 shares during the period. CWM LLC boosted its holdings in shares of 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 purchasing an additional 4,119 shares during the last quarter. US Bancorp DE grew its stake in shares of Mativ by 204.2% during 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 period. QRG Capital Management Inc. acquired a new stake in shares of Mativ during the 1st quarter worth $64,000. Finally, FORA Capital LLC purchased a new position in shares of Mativ in the 1st quarter worth $68,000. 94.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Zacks Research upgraded Mativ to a "strong-buy" rating in a report on Monday, August 11th. Wall Street Zen upgraded shares of Mativ from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to data from MarketBeat.com, Mativ has a consensus rating of "Strong Buy" and a consensus price target of $10.00.

Mativ Stock Down 1.0%

Shares of MATV stock traded down $0.13 during trading hours on Friday, reaching $12.32. The company had a trading volume of 228,908 shares, compared to its average volume of 617,530. The company has a market capitalization of $673.26 million, a P/E ratio of -1.47 and a beta of 0.83. The company has a debt-to-equity ratio of 2.65, a quick ratio of 1.21 and a current ratio of 2.37. Mativ Holdings, Inc. has a twelve month low of $4.34 and a twelve month high of $19.96. The stock's fifty day simple moving average is $9.65 and its 200 day simple moving average is $7.25.

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

Mativ Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, August 29th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Friday, August 29th. Mativ's dividend payout ratio is -4.79%.

Mativ Company 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.