Cubist Systematic Strategies LLC Has $1.39 Million Holdings in Mativ Holdings, Inc. $MATV

Key Points

• Cubist Systematic Strategies LLC significantly increased its stake in Mativ Holdings, purchasing an additional 102,376 shares, bringing its total ownership to 223,364 shares, valued at approximately $1.39 million.
• Mativ reported a quarterly profit of $0.33 earnings per share, exceeding analysts' expectations of $0.18, with revenue surpassing estimates at $525.4 million.
• The company declared a quarterly dividend of $0.10 per share, representing an annualized yield of 3.2%, with the payment scheduled for September 26th.

Cubist Systematic Strategies LLC increased its stake in shares of Mativ Holdings, Inc. (NYSE:MATV - Free Report) by 84.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 223,364 shares of the company's stock after buying an additional 102,376 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.41% of Mativ worth $1,392,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in Mativ by 119.7% during the 1st quarter. GAMMA Investing LLC now owns 4,462 shares of the company's stock worth $28,000 after buying an additional 2,431 shares during the last quarter. CWM LLC grew its stake in shares of Mativ by 707.7% in the first quarter. CWM LLC now owns 4,701 shares of the company's stock worth $29,000 after purchasing an additional 4,119 shares in the last quarter. US Bancorp DE grew its stake in shares of Mativ by 204.2% in the first quarter. US Bancorp DE now owns 5,677 shares of the company's stock worth $35,000 after purchasing an additional 3,811 shares in the last quarter. QRG Capital Management Inc. bought a new position in shares of Mativ in the first quarter worth $64,000. Finally, FORA Capital LLC bought a new position in shares of Mativ in the first quarter worth $68,000. 94.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on MATV shares. Zacks Research raised Mativ to a "strong-buy" rating in a research note on Monday, August 11th. Wall Street Zen upgraded Mativ from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to data from MarketBeat.com, Mativ presently has a consensus rating of "Strong Buy" and a consensus price target of $10.00.

Mativ Trading Down 1.5%

Shares of NYSE MATV traded down $0.18 during mid-day trading on Tuesday, hitting $12.25. 559,211 shares of the company traded hands, 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 stock has a market capitalization of $669.49 million, a price-to-earnings 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. The business has a 50 day moving average of $9.36 and a two-hundred day moving average of $7.14.

Mativ (NYSE:MATV - Get Free Report) last announced 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. The firm had revenue of $525.40 million during the quarter, compared to the consensus estimate of $505.00 million. Mativ had a positive return on equity of 4.12% and a negative net margin of 23.09%. On average, sell-side analysts anticipate that Mativ Holdings, Inc. will post 1.15 earnings per share for the current fiscal year.

Mativ Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, August 29th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Friday, August 29th. Mativ's dividend payout ratio is currently -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.